Belgrade Stock Exchange amends its rules of business operation and tariff regulation

UniCredit Bank Serbia JSC
Summary: 
Belgrade Stock Exchange has amended and supplemented its Rules of Business Operation and Tariff Regulations.
Wed, 12/12/2018

As of 17 December Belgrade Stock Exchange (BELEX) will implement Decision on Amendments and Supplements of Tariff Regulations that will impose higher fees on its members and issuers whose securities are traded on BELEX.

Fees for block transactions with shares and depository receipts on shares executed on Regulated Market (segments Listing and Open Market) and MTP BELEX Market will increase from 0.12% to 0.14% of transaction value, the other changes of the Tariff Regulations will not impact investors directly. 

Decision on Amendments and Supplements to the Rules of Business Operation will also become effective as of 17 December 2018.  Main changes related to:

  •  Deadline for issuers whose securities are traded on Regulated Market – segment Open Market to submit its’s profile updated based on annual financial report for previous year has been prolonged from the end of March to the end of April.
  • Membership status treatment in case BELEX member is undergoing a status change
  •  Requirements that have to be met by a person acting as a BELEX controller
  •  Fine tuning procedures governing rights and obligations of BELEX members, access to trading system, BELEX’s obligations on publishing data on its website etc.  

Currently the documents are available in Serbian only, the English version is expected to be published on the website of BELEX in the coming days.

Impact on Investors:  Amendments and Supplements to the Rules of Business Operation and Tariff Regulations will increase investors’ costs for block transactions for shares and depository receipt on shares from 0.12% to 0.14% of transaction value.  The change will become effective as of 17 December 2018.