BELGRADE (Serbia), November 26 (SeeNews) - The Belgrade Stock Exchange (BELEX) signed an agreement to migrate its trading activities as market operator to the platform of the Athens Stock Exchange (ATHEX), the bourses said.
Both teams have already initiated the deployment activities aiming to migrate BELEX trading activities, the two stock exchanges said in a joint statement on Thursday.
"Migration of the Belgrade Stock Exchange’s trading activities to the trading platform of the Athens Stock Exchange reflects our firm commitment not only to further strengthen our cooperation but also our ultimate goal to improve overall market efficiency, transparency and certainty by delivering trading facilities fully compliant with the EU regulation, to all market participants," the BELEX CEO Sinisa Krneta said.
The Athens, Belgrade and Cyprus stock exchanges and their associated investment community will collectively increase their operational efficiency, improve market liquidity, enhance their business opportunities and efficiently support local economies development, the statement reads.
"We are excited to partner with Belgrade Stock Exchange in the context of the Common Platform concept, through which we aim to strengthen our markets network increasing the diversity of the investor base and offering new investment opportunities for local and international investors, and in turn expand the range of products traded in the markets," ATHEX CEO Socrates Lazaridis notes.
In August, Serbia's Securities Commission granted approval to ATHEX to acquire a 10.24% stake in the share capital of the BELEX to enhance the Serbian capital market through the introduction of new products and services that will support the flow of capital.