The Bulgarian Stock Exchange (BSE) is screening opportunities to start trading derivative instruments, bourse managers told reporters at a news conference dedicated to its plans for this year, Dnevnik daily reported.

While hopes are that the launch of derivatives might take place already this year, none of the participants would commit to a specific deadline, nor define the type of derivatives under scrutiny or if the market was ready to use this type of securities.

Derivatives are securities drawing on primary financial instruments such as shares and bonds, whose valuation is directly dependent on the performance of the securities on which they are based.

Victor Papazov, chairperson of the BSE board of directors, said that the XETRA new trading system would be launched on June 16. Its introduction will not result in higher transaction fees.

The system will allow Deutsche Boerse, which is the creator and vendor of XETRA, to disseminate information on BSE, while securities traded on the Bulgarian market would be available to 400 investment banks and houses and 5000 brokers in 18 European countries, Papazov added.

This year, the partnership with Deutsche Boerse will entail an international conference in Sofia and a Day of Bulgaria in Frankfurt, Germany. The Sofia conference will take place on September 16 and will focus on prospects before capital markets in South-Eastern Europe. The Day of Bulgaria will take place in November and will feature presentations of Bulgarian companies, intermediaries and investors before international partners and investors.