Xetra, the new trading platform of the Bulgarian Stock Exchange (BSE), will gо online on June 16, contrary to speculation that its launch could be delayed, Dnevnik daily reported on June 12.

The system will replace RTS, the Russian system that has been in use for seven years.

The news about the launch came late on June 11. The Financial Supervision Commission (FSC) said it was ready to make a compromise regarding the new bourse regulations, which must go into force for Xetra to be legally operational.

Dimana Rankova, deputy FSC head, said the regulations were given a partial approval to ensure Xetra’s timely launch. All affected parties still have a 14-day period to file their remarks about the new regulations.

The BSE, for its part, promised to make the necessary corrections and changes to the regulations, which the regulator insisted to be made back in late May. The changes should be implemented within a 14-day period. FSC’s remarks related to the oversight, multiple listings, internal organisation of bourse players, the guarantee fund.

BSE operations director Ivan Takev said the regulator’s partial approval would not prevent investors from using the full functionality of the system.

The timely start of the system is good news for the investor community because the date was already factored in the strategies of bourse players, said Radoslav Rachev, head of the managing board of the Bulgarian Association of Licensed Investment Intermediaries.