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Capital of 150 million euros necessary for engaging in securitization

The last presentations before the closing of the 17th Zagreb Stock Exchange conference were held on Saturday on the topic of associate membership, indices and index products, securitization, and the company ORC Software was presented.

Speaking about associate membership, the Vice President of the Budapest Stock Exchange, Robert Cselovszki, emphasized that such gatherings are always an extremely useful place for exchanging experiences.

– Technological changes have led us to the point where physical location becomes irrelevant – he said, explaining how the conditions for achieving associate membership have been met. Speaking on this topic, Julia Segerkrantz, sales manager for the Baltic market at OMX, agreed that it is the right time for the exchange to take such steps.

– I cannot explain to you how to acquire associate members, but perhaps you can learn from our example – said Segerkrantz. The conference also addressed the legal aspects of securitization through presentations by experts on the American experience, discussing the introduction of this instrument to the domestic market.

Namely, the draft law on securitization has been completed. Institutions that will be able to engage in this activity must have a minimum of 150 million euros, and since it is a financial transaction through which bonds will be issued that institutional investors will invest in, it will be a significant boost to our capital market – the speakers agreed.

– Currently, we can provide a direct connection to the capital markets in Budapest, Warsaw, and Vienna, and soon, as the testing phase is currently underway, also with the exchanges in Zagreb, Bucharest, and Prague, and we will be able to offer you a service that the largest global investment firms use – said Andress Henriksson, head of ORC Software, which provides the service of using a software platform for online trading of various types of securities to banks, investment funds, and brokerage houses. (A. Ku. and T. B.)