The Macedonian Stock Exchange of Securities AD Skopje – the first organized stock exchange of securities in the Republic of Macedonia. The Macedonian Stock Exchange (MBHV) organizes trading in securities in the Republic of Macedonia. It was founded on 13. ⅸ 1995 Of the 13 banks, 3 insurance companies and 3 savings houses, as a joint stock company operating on a non-profit basis. The first trading on the stock market was organized on 28. ⅲ 1996. During the first year of existence (1996) a modest turnover of 34.7 million denars (about 670,000 euros) was realized. The MBHV trading initially took place on the “parquet”, but since April 2001. This way of trading is replaced by an automated electronic trading system that is called BEST. Starting from 20. ⅵ 2001 works on a profit basis. MBHV is a public, transparent and organized market encountered by supply and demand for securities and are established their market prices. The MBHV trading is carried out according to certain trading systems. Each transaction with securities is carried out through the mediation of an institution member of the Stock Exchange. Members of MBHV are brokerage companies and banks. On the stock market there are two main market segments: an official and unofficial market. The official market includes the securities that are on the listing of MBHV, which are securities on larger companies, with greater dispersion of shares, and which have significant obligations to disclose information on their operations. The unofficial market includes mainly the securities of relatively smaller companies or companies with less dispersion of shares, and their ratio of information disclosure is slightly smaller. The last two years classic stock trading experienced a strong increase: in the following examination of the Draft Law on Establishment of the Macedonian Bank for support of the development of 2005. The realized turnover of 116.5 million euros was an increase of 143.5% compared to 2004, while the turnover was realized across 2006. Of the 176.9 million euros, it was an increase of 61.08% compared to the previous year. The MBHV stock index, called MBI-10 also achieved a high increase: 129% – 2005 and 61.5% – 2006 This high growth of MBHV trading emerged from the increased activity of foreign investors and the increased interest of domestic individual investors (ie natural persons) for trading with HV. Not.: Annual Newsletter of the Macedonian Stock Exchange 2006, //Morg.mk//; The Securities and Exchange Commission of the Republic of Macedonia, (2006), the securities market in the Republic of Macedonia: today and tomorrow // wage. Mechorg.mk //. Lit.: Macedonian Stock Exchange AD Skopje, 10 years Macedonian Stock Exchange, Skopje, 2006; C. Filipovski, financial sector and economic development in the Republic of Macedonia. Open challenges of the Macedonian economy, MANU, Skopje, 2004, 357 & 379. C. F. Macedonian dynasty
Original article in Macedonian language Cyrillic alphabet
Кириличен напис МАКЕДОНСКАТА БЕРЗА НА ХАРТИИ ОД ВРЕДНОСТ АД СКОПЈЕ