The annual gathering of the financial community in Bansko focused on the development of Bulgaria’s capital market, initial steps toward closer integration among European exchanges, and upcoming regulatory changes. The event was organized by the Bulgarian Association of Licensed Investment Intermediaries (BALII) and the Bulgarian Dealers Association.
More than 250 participants from various sectors attended, including representatives from BALII, the Bulgarian Stock Exchange (BSE), pension and asset management companies, the Central Depository, the Independent Bulgarian Energy Exchange, the Investor Compensation Fund, and the Financial Supervision Commission (FSC). The FSC was represented by its Chair Vasil Golemanski and Deputy Chairs Denitsa Velichkova and Diana Yordanova.
Assoc. Prof. Dr Manyu Moravenov, Executive Director of the BSE, presented an overview of the exchange’s progress over the year. He discussed growth in capital market trading and highlighted opportunities for regional and European integration as key directions for further development. According to Moravenov, “the growing interest in the Bulgarian capital market creates a solid foundation for the BSE’s participation in broader European formats of cooperation between exchanges, which would facilitate investor access to Bulgarian companies and, vice versa, help Bulgarian businesses reach larger capital markets.” He added that early moves toward greater cooperation among European exchanges could help smaller markets improve liquidity and visibility for major public companies while keeping more capital within their regions.
During the forum, FSC Chair Vasil Golemanski proposed creating a Strategic Council for the Non-banking Financial Sector. He explained that this council would provide a platform for discussing policies and strategies as well as improving coordination between institutions and market participants. Golemanski stated that such a council “would strengthen the dialogue between the FSC and the non-banking financial sector and would support the Commission in its role as spokesperson and mediator between the financial industry and the state.”
The BSE plans to continue working with BALII, institutional investors, regulators, and other professional groups to build a more transparent, liquid, and competitive market serving investors, issuers, and Bulgaria’s economy.
