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SEE Link, a stock trading regional platform of Southeastern Europe (SEE) backed by the EBRD, has started to calculate its first two blue-chip equity indices.
The indices, SEE LinX and SEE LinX EWI, aim to enhance the visibility of regional markets, according to see-link.net.
SEE LinX is a market capitalization weighted index adjusted for the free-float of each constituent, while SEE LinX EWI is an equally weighted index with the same constituents.
Both indices, lauched on 1 April, are composed of the 10 most actively traded companies listed on the three participating exchanges: Bulgaria’s Advance Terrafund REIT, Sopharma and Monbat; Croatia’s Atlantic Grupa, Ericsson Nikola Tesla, Hrvatski Telekom, Podravka, and Valamar Riviera; Macedonia’s Komercijalna banka and Alkaloid.
SEE Link was founded by the stock exchanges of Bulgaria, Croatia and Macedonia with support from the European Bank for Reconstruction and Development (EBRD). The platform became fully operational with last week’s launch of an order-routing system.
The trading network will help integrate domestic stock markets with a combined equity market capitalisation of USD 30 B allowing for order routing of almost 400 stocks listed on the three exchanges, SEE Link has said in a statement. The system aims to increase liquidity and improve access for investors and local brokers.
“We are confident that SEE Link will very soon become a generator of the investment development of the region and we strongly believe in the success of the platform”, Bulgarian Stock Exchange CEO Ivan Takev said in the statement.
The EBRD supported the initial phase of the SEE Link project with a EUR 540,000 grant to introduce an electronic system for order-routing in July 2014.
It is expected that more than 22 stock exchange members from the three founding countries will connect to the platform and a total of 387 securities will be available for trading.
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