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Athens Stock Exchange (ATHEX) and the Bulgarian Stock Exchange (BSE) signed a framework agreement for the admission to trading, clearing and settlement of Bulgarian derivatives. 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 products are planned to be traded on the derivative market of the Athens Stock Exchange and the clearing to be provided by ATHEXClear in accordance with the relevant requirements of EMIR and the EU legislation. Euro will be the currency for both trading and clearing of the instruments.
"We are really pleased to welcome the new Bulgarian products in the ΑTHEX derivatives market and we consider this to be the first step οf further cooperation with BSE for the benefit of both markets and participants", commented Socrates Lazaridis, CEO of ATHEXGroup.
"Derivative products are versatile. Investors can utilize them to hedge portfolio risk or to speculate market movement with potentially high rates of return. Consequently, derivatives are an excellent financial instrument for both individual and institutional investors. We are working intensely with ATHEXGroup to launch the Bulgarian derivatives as preliminary planned for Q2 of 2022.", said Manyu Moravenov, CEO of BSE.
In the upcoming months teams from both exchanges will implement the complex project with different phases regarding product and model design, promotional and market awareness activities, infrastructure deployment, training and testing.
