Банкеръ Weekly

Briefs

DELTA STOCK FACILITATES ACCESS TO WALL STREET SHARES

AІ of the beginning of June each Bulgarian player on the stock exchange will have the opportunity to trade shares of the wealthiest companies in the world such as MicroSoft and General Motors without having to go out of home. That possibility is provided by the new information system of the Delta Stock investment intermediary's site. The software for e-trade has been developed for a year and a half and its practical implementation is regulated by the Foreign Currency Act, enforced on January 1, 2000. The software makes possible trading shares and stock indexes, quoted in the US, such as DJIA, NASDAQ and AMEX. According to Nikolai Nedkov, procurator of Delta Stock, shares traded on the London Stock Exchange and other West European stock markets will be available within two or three months as well.
The new system offers direct access to brokers operating in the USA and to the biggest electronic communication networks - Island, Archipelago, etc. Through these systems the offers placed in Bulgaria are entered and the corresponding offers are sought.
All client's funds are kept on accounts of the investment intermediary, Delta Stock in this case, and are settled by the latter. Afterwards, the stock exchange player may get a receipt for his income papers and get cash anywhere abroad at his discretion.
The software product was presented for the first time at Delta Stock's stall within the framework of Internet Expo. The exhibition attracted attention by the opportunities for e-trade in Bulgaria which is presently lauched in the country and is yet to develop. The organizers and representatives of the participants discussed mechanizms for improvement of conditions for various trade activities through INTERNET.
The low buying power of the Bulgarian people, for whom purchase of computers is far from being a priority, was pointed out as one of the major causes for the zero growth of virtual economy in the country. Unlike the local use of e-trade, buying of shares from the big stock markets in Western Europe is a good opportunity for Bulgarians with knowledge in finances to realize themselves in the conditions of a most serious competition. Hopes remain that these activities are yet to develop in our country and similar services will soon be offered by most oflocal investment intermediaries.

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