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FTSE Mondo Visione Exchanges Index:

Start Of Trading On The BTS System In Montenegro

Date 01/03/2002

On Friday, 1 March 2002, New Securities Exchange (NEX) Montenegro in Podgorica started trading with the new trading system, which was launched also by the aid of the know-how and technology of the Ljubljana Stock Exchange (LJSE). Earlier that day, Dr Drasko Veselinovic, President & CEO of the Ljubljana Stock Exchange, Mr Zoran Djikanovic, Vice-President of Securities Commission Montenegro, and Mr Mladen Bojanic, Director of NEX Montenegro, signed an agreement on the transfer of rights and liabilities regarding the Licence Agreement for the BTS trading system, to the NEX Montenegro.

The signing of the agreement was held during the official ceremony, at the conclusion of the process of setting up of the capital market infrastructure in Montenegro and at the start of trading through the BTS trading system. Mr Milo Djukanovic, President of Montenegro, and other high representatives of the Government of Montenegro attended the event, together with delegates of other southeast-European stock exchanges also trading via the BTS system, and representatives of Securities Market Agencies and other institutions related to the capital market. Slovenian delegation also included Mr Bojan Skoda, from the Ministry of Economy, Mr Andrej Sketa, of the Ljubljana Stock Exchange, and Mr Stefan Cigoj, Consul General of the Republic of Slovenia to Montenegro. On the meeting preceding the official ceremony, the attendees discussed the LJSE initiative to set up information service among the Exchanges in question, in order to exchange real time trading data. The project will serve as grounds for possible more intensive co-operation of the Exchanges of the region.

During his visit to Montenegro, Dr Veselinovic also met the representatives of USAID (U.S. Agency for International Development), participated in a round table discussion on the role of privatisation funds in the development of Montenegrin capital market, and held a lecture on the development of capital market in Slovenia, at the Faculty of Economics in Podgorica.