October 18 (SeeNews) - The Sofia Commodity Exchange (SCE) plans to merge with the Bulgarian Commodity Exchange at the beginning of 2017, the SCE chief executive officer said on Tuesday.
The deal aims to focus operations in one place and streamline the work process, Antonina Belokopitova told SeeNews by phone.
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The two commodity exchanges signed on Monday a memorandum to merge. According to the document, published on the SCE website, the parties will take steps to build and introduce an electronic trading platform.
The combined turnover of the two commodity exchanges amounted to 600 million levs ($337 million/306 million euro) in 2015, according to data in the Commercial Registry.
(1 euro = 1.95583 levs)