(Vienna/Podgorica) Wiener Börse continues building its network in Southeast Europe and signed a cooperation agreement with the exchange in Montenegro today in Vienna. The agreement expresses the desire of the two exchanges to work together more closely in the future.
"The capital markets of Southeast Europe have an enormous potential," said Michael Buhl, member of the management board of Wiener Börse AG. The significance of the Southeast European capital markets has been recognized by Wiener Börse in the development of a separate Southeast European index. Since February 2006, Wiener Börse has been computing the Southeast European Index (SETX), which contains the 15 largest companies listed on the exchanges of Bucharest, Ljubljana, Zagreb and Sofia.
"Signing up this Memorandum is of special significance, not only for the Montenegro Stock Exchange, but also for the whole Montenegrin economy," stressed Dejana Suskacevic, Executive Director of the Montenegro Stock Exchange at the signing of the cooperation agreement. "Taking into account the knowledge and the experience of the Wiener Börse, we hope we will improve trade mechanisms that will contribute to the involvement of new trade materials on Montenegrin capital market and investment climate in Montenegro."
The Montenegro Stock Exchange has been growing steadily since it was founded ten years ago: Market capitalization at the end of May 2006 was approximately EUR 900mn, while average monthly trading volume was EUR 9 mn in 2006.