ALSE training brokers as bourse expected to start operations in January 2018

Albanian Securities Exchange started this week a training with licensed brokers on the use of electronic trading system.

In an interview with Tv Scan, ALSE CEO Artan Gjergji stated that the securities exchange is in its final stages and will soon start operations.

The bourse is expected to start trading Albanian government securities in January 2018.

Last week, Bank of Albania approved several changes to the regulations that enable Albanian Securities Exchange to become a member of the system of security settlement and registration – AFISaR.

AFISaR (Albanian Financial Instrument Settlement and Registration) is the central system of settlement and registration of the securities issued by the Albanian government, for which Bank of Albania organizes the auction based on the Memorandum of understanding signed with Ministry of Finance. Communication with AFISaR is based on swift-type messages realized through access on the Virtual Private Network (VPN) or through SWIFT.

The membership paves the way for the beginning of trading operations on the first private Albanian securities exchange.

ALSE was brought into being by a group of Albanian financial market professionals backed by three Albanian-owned banks, primarily Credins Bank.

The Financial Supervisory Authority has given ALSE a full license but with the country lacking a central depository of non-government securities it will have to trade T-bills for a year.

SCAN

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