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Bulgarian, Romanian Central Depositories Now Connected
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The Central Depositories of Bulgaria and Romania have signed a cooperation agreement, thus establishing a direct link with each other.
The agreement was signed by Bulgarian Central Depository CEO Ivan Dimov and his Romanian counterpart Adriana Tanasoiu.
The Romanian depository is the first foreign depository institution to become a member of Bulgaria's Central Depository.
"The direct link between the two institutions will allow us to carry out double listings and cross listings with low financial expenditures for the issuers. We envision deals to be completed on both markets with the opportunity of transborder settlements," Ivan Dimov commented, as cited by Bulgarian media.
Tanasoiu pointed out that the agreement creates an opportunity for Romania to establish a stable settlement link with the Bulgarian stock market.
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