Macedonian Stock Exchange Celebrated its 20th Anniversary September 6, 2015

MSE-Steriev izjavaThe story of the Macedonian Stock-Exchange (MSE) began in 1995. On September 13th the Founding General Shareholders Meeting of the MSE took place. This is the official date of the establishment of the first organized stock exchange in the history of the Republic of Macedonia considering that the country had never before had such.

This year, on 13.09.2015 we celebrated 20 years of establishment of the Macedonian Stock-Exchange. For this occasion Macedonian Stock Exchange held a special presentation for 20 best students, from the course Financial Management at the Faculty of Economics Skopje at the University “Ss. Cyril and Methodius” born in 1995 as the stock exchange. The students were given educational materials from the field of securities industry and free access to some software products developed by us.

From the first day of trading till today or in the period 28.03.1996 – 31.08.2015, the MSE total turnover is over 3.3 billion euros (approximately 90% of the total turnover is carried out in equities and 10% with bonds) and in this period 468.258 transactions were concluded with over 600 securities. These results were achieved through the activities of the 32 financial intermediaries (banks and brokerage houses that in a certain period of time were active MSE members) on the total of 3.834 trading sessions. The biggest turnover was achieved in 2007 in the amount of around 680 million Euros. The main Stock index MBI-10 was introduced in 2005, with a base value of 1,000 points as of 31.12.2004.

During event it was highlighted that the MSE as other exchanges in the Southeast Europe are products of the reform and transformation to market economy. According to the MSE CEO, Mr. Ivan Steriev: “MSE first served as infrastructure for MSE-Prezentacijataprivatization, then it was a place for the concentration of initially created ownership structures in the next development phase, which coincided with the global and regional economic expansion and excess of liquidity, it experience a boom, followed by a sharp negative correction as a result of the financial crisis and the entry into the long bear market and low turnover. Consequently, several years in a row we are facing a new reality, what is the securities  market in a small open economy like ours, with this level of GDP and standard of living, with these organizational and ownership structure of the companies and in this social and political environment.

Vice Dean of the Faculty of Economics, Professor Predrag Trpeski welcomed the initiative to mark the anniversary of the founding of the Stock Exchange and noted that historically it was of particular importance that the MSE was founded in 1995 within the process of rounding the institutional framework for the functioning of a market economy in Macedonia.

However, the MSE’s birthday is related with the date of 28th March 1996, when the MSE’s bell rang for the first time. The big celebration for this occasion will be organized at the end of March next year.

Category: Member News