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Sofia bourse, Central Depository launch securities lending platform

Jun 17, 2024, 11:49:37 AMArticle by Mihaela Miteva
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June 17 (SeeNews) - The Bulgarian Stock Exchange (BSE) and the country's Central Depository launched on Monday a joint new platform for borrowing financial instruments, the BSE said.

Sofia bourse, Central Depository launch securities lending platform
Image source: Bulgarian Stock Exchange

The securities lending platform offers an integrated service that allows investors to lend or borrow financial instruments part of the main indices of the Sofia bourse for a certain period of time, the BSE said in a statement.

The initiative aims to increase the liquidity of Bulgaria's capital market. The borrowed securities are collateralised with cash, while their management is overseen by the Central Depository.

"Our goal is to reduce the risk in borrowing financial instruments through a known and reliable infrastructure of the Stock Exchange and Central Depository. The secured borrowing of securities is directly related to the activation of short sales and is the basis for the development of a derivatives market", BSE CEO Manyu Moravenov said.

The new platform will use the infrastructure of the Deutsche Boerse's T7 trading system, the BSE added.

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