BSE-Sofia uses the Xetra electronic trading platform operated by Deutsche Boerse.

Organisation of Trading

BSE-Sofia uses the Xetra electronic trading platform operated by Deutsche Boerse.

Xetra is one of the most powerful trading platforms for cash market securities and is a synonym for the electronization and internationalization of securities trading. Deutsche Boerse has been using Xetra to operate the trading platform for the Vienna Stock Exchange since November 1999, and has been doing the same for the Irish Stock Exchange in Dublin since June 2000. Furthermore, trading on Eurex Bonds and Eurex Repo, as well as electricity trading on the European Energy Exchange in Leipzig runs entirely through Deutsche Boerse technology. The Shanghai Stock Exchange, which operates China's largest equity market, will be using Xetra technology as the core element of its new trading platform in the future.

Xetra market model includes the following trading forms for on-exchange trading: auction and continuous trading. In addtion, Xetra provides IPO and OTC-entry functionalities.

Trading hours vary according to the financial instrument type and the respective market segment. Illiqiud financial instruments are traded only in two pre-defined auctions, while all the other instruments are continuously traded.

Settlement takes place on a "delivery versus payment" (DVP) basis via the computerised book-entry system of the Central Depository.

Trading fees are dueby each of the investment intermediaries that are parties to the transactions and are calculated as a percentage of the total value of the executed orders.


Additional information