SOFIA COMMODITY EXCHANGE STAKES ON E-TRADE
The project for e-trade on the exchange was launched last year, Vassil Simov, CEO of the Sofia Commodity Exchange announced at a press conference on January 8. The chief aim will be to make the national e-trade system a Balkan centre. The project is financed by the US Agency for International Development (USAID), which has released USD2.5MN, to be utilized in four years. One of the reasons that attracted USAID is that the Sofia Commodity Exchange has regional centres which are already linked by an electronic connection.We'll be the first in the Balkans to work in that direction, Simeon Elazarov, Executive Director of the Sofia Commodity Exchange added. It became clear that the first international consultants are already in Bulgaria and are conducting a feasibility study of the project. The commodity exchanges from Bulgaria's neighbour countries Romania, Macedonia and Turkey have expressed willingness to participate in the project. According to the directors of the Sofia Commodity Exchange, the draft bill on commodity exchanges that will be discussed by the Council of Ministers in January, is good. As its assets they pointed out the replacement of the licensing regime by a registration regime for the brokers and the avoidance of a second licensing of the presently existing exchanges.