SOFIA (Bulgaria), January 10 (SeeNews) – The Bulgarian Stock Exchange (BSE) signed a framework agreement with the group of the Athens Stock Exchange (ATHEX) for the admittance to trade, clearing and settlement of Bulgarian derivatives, the bourse in Sofia said on Monday.
“The scope of the agreement includes the introduction of single stock futures having as underlying selected stocks traded at BSE and index futures, having as underlying the main BSE index SOFIX,” the BSE said in a statement.
The products are to be traded on the derivative market of Athens Stock Exchange, while the clearing will be provided by ATHEXClear, the Greek bourse’s clearing house.
“Derivatives are the missing link in the Bulgarian capital market’s investment chain,” BSE executive director Manyu Moravenov said. “They are an excellent financial instrument for individual, as well as institutional investors. We are working intensively with ATHEX Group for the issuing of Bulgarian derivatives as planned for the second quarter of the year,” he added.
Both the trading and the clearing are to be conducted in euro.