Last year and in 2016, citizens of Montenegro and Montenegrin companies turned 480 million EUR into securities via custodian banks and through trade at foreign multilateral and other platforms. Custodian activities, among other things, include activities of safekeeping securities, shares and bonds.
In 2016, even 308 million EUR was traded through custodian business.
Report on the situation at the market, composed by the Commission for Capital Market shows that the total value of financial instruments kept by custodian banks amounts 361 million EUR.
President of thee Commission for Capital Market, Dr Zoran Đikanović, says one part are Montenegrin bonds are traded outside, but there are also other interesting securities.
“This indicates that the trade is moving from the stock exchange. Off-exchange trading is becoming more and more popular or trading on multilateral and other trading platforms. Stock exchange has been trading center for 10 years, but it is not the key spot of the market trends. The reason is that other laws regulated trading outside the stock exchange market”, explained Đikanović.
Interest in investing money outside Montenegro is much higher. Last year, Montenegro Stock Exchange turnover amounted 47 million, which is 60% smaller than the year before that one.
Đikanović didn’t want to comment on the current situation at the market.
