Dr Draško Veselinovic, President & CEO of the Ljubljana Stock Exchange, Inc., and Mr Marinko Papuga, CEO of the Zagreb Stock Exchange, signed the Memorandum of Co-operation yesterday, on Wednesday, 5 December 2001.
By signing the agreement, the two Exchanges consent to co-operate actively on joint cross-border securities trading. For this purpose, task forces and project teams will be appointed, to study possibilities of future collaboration in view of legal and regulatory framework. Further on, they will be responsible for examining the quality of both markets and market instruments, trading and telecommunication technology as well as education and marketing practices.
The basic goal of the project is to implement modern and efficient system of cross-border securities trading and settlement between the two markets, members of the project. More specific aims of the Ljubljana and Zagreb Stock Exchanges are the following:
- higher liquidity,
- better investment potential and risk diversification,
- simpler, cheaper and speedier cross-border securities trading,
- larger supply of securities,
- higher regional transparency,
- easier and cheaper raising of new capital.
