At an official ceremony in Sofia, the CEOs of the Bulgarian and Romanian central securities depositories signed a long expected co-operation agreement. According to the document signed by Mr. Ivan Dimov and Mrs. Adriana Tanasoiu, CEOs of the two depositories, Bulgarian companies can now get listed on the Bucharest Stock Exchange and thus have access to the Romanian capital market.
Mr. Ivan Dimov, CEO of the Bulgarian Central Depository, said about the agreement: “The Romanian Central Securities Depository – is the first foreign depository institution – member of Central Depository AD. The direct link between the two institutions enables dual and cross-listing of financial instruments at very low cost. The link is to facilitate execution of trades on both markets with the option for potential cross-border settlement.”
Mrs. Adriana Tanasoiu, CEO of the Romanian Depository, noted: “We are very pleased to partner with Central Depository AD and to provide a robust and comprehensive settlement link to the Bulgarian market. We can say that by this initiative, we created an electronic bridge over the Danube River, offering new solutions for both financial communities.”