The Bulgarian Stock Exchange (BSB) has opened a secondary market for government securities. On November 1, the Bulgarian Finance Ministry floated 20 bond issues with a nominal value of 5.5 billion leva.
The secondary trade in government securities on the Bulgarian Stock Exchange is part of a strategy to develop capital markets and increases the diversity of financial instruments for investors. Until now investments in government securities were possible outside the stock market but required large investments. The minimum trading volume on the Bulgarian Stock Exchange is set at 1,000 currency units in leva or euro.
To build a stable government securities market the Bulgarian Stock Exchange and the Central Depository will waive fees if intermediaries and banks waive fees too for their clients. Thirteen investment intermediaries and commercial banks have already backed the initiative.
The session opened with a ceremony attended by Deputy Finance Minister Marinela Petrova, Assen Yagodin, Chairman of the Board of Directors of the Bulgarian Stock Exchange, Nina Stoyanova, Deputy Governor of the Bulgarian National Bank, Bulgarian Stock Exchange Executive Director Vassil Golemanski. and representatives of BSB members and investment intermediaries.