Measures taken by Bulgarian market infrastructure

UniCredit Bulbank AD
Central Depository AD, Bulgarian National Bank, Bulgarian Stock Exchange and Financial Supervision Commission have taken measures to ensure normal functioning during the COVID-19 state of emergency in Bulgaria.
Tue, 17/03/2020

In compliance with the effected state-wide measures aiming to contain the spread of COVID-19 in Bulgaria, the market infrastructure institutions have announced measures to maintain normal operations and full range of services offered.

Central Depository AD (CDAD) has recommended that CSD members and issuers shall predominantly use all CDAD electronic channels and physical visits on premises shall be permitted only on an exceptional basis. The available facilities ensure that the regular services for investors and issuers can be delivered without the need for exchange of paper documentation or physical attendance.

Bulgarian Stock Exchange (BSE) has confirmed that they have a preventive response plan in place guaranteeing no disruption in normal activity. BSE confirmed that trading sessions will not be suspended for the time being and strongly encouraged all participants, issuers and clients to use only the electronic forms for communication with the exchange.

Bulgarian National Bank (BNB) reassured that commercial banks and providers of payment services in Bulgaria continue to conduct their operations, including servicing customers, in compliance with the measures required to limit the risks of COVID-19 spread.

Financial Supervision Commission (FSC), being the Regulator for the financial sector, has undertaken all necessary activities to maintain the stability on the market and the high level of investor protection. FSC is in contact with market participants to monitor the adequacy of the BCP-related measures they have implemented and acts in full coordination with its counterparts from the the EU community. ESMA’s recommendations towards market participants are closely followed and observed by FSC.

Impact on investors: All market infrastructure continues to operate as usual with necessary BCP-related measures implemented as a response to the Coronavirus disease outbreak.