After years of continued negative trend, Belgrade Stock Exchange (BELEX) recorded a positive turnover of 75% in 2016. As this is the second straight year in which BELEX recorded a growth, it is valid to claim that a new era for BELEX is around the corner.
Compared to last year, during which BELEX recorded a growth of only slightly above 10%, this year’s turnover represents the highest annual turnover on the domestic market in the last seven years, namely since 2009 and the escalation of the Global economic crisis that hit the world in the late 2000s. Simultaneously, BELEX indexes recorded significant growth in the subject period.
Furthermore, this year marked the improvement of BELEX FIX, an official trading system based on the Fix protocol. This is a unique protocol for exchange of information on financial markets, which consists of several interconnected modules, enabling all the Exchange functionalities. The implementation and improvement of this system means the improvement of system performances, speed and safety, which are important for all investors and participants on the local capital market, also allowing the clients to place their orders via the Internet.
In addition, it is worth mentioning that BELEX recently joined the SEE Link network, which, together with the noticeable growth, indicates the potential of the Serbian capital market. Lastly, the 15th BELEX International Conference “Upgrade Belgrade 2016”, which was held in November 2016, gathered numerous high-profile participants and raised an array of prominent topics, which pointed out the essence of future market development.
Therefore, it can be argued that, despite high dependence on external economic factors, BELEX activities and development during 2016 confirm the influence it has throughout the region of South-East Europe, as well as a better future.
By Milan Samardzic, Partner, and Branislav Radovic, Associate, SOG / Samardzic, Oreski & Grbovic