FEAS Yearbook FEAS Yearbook 2008 | Page 59

FEDERATION OF EURO-ASIAN STOCK EXCHANGES
SEMI ANNUAL REPORT OCTOBER 2008
TIRANA STOCK EXCHANGE
OFFICIAL 6 MONTH STATISTICS
US$ millions
Total Volume
Average Daily Volume
# Shares millions
Total Volume
Average Daily Volume
Stocks
Jan-06
Feb-06
Mar-06
Apr-06
May-06
Jun-06
TOTAL n/a
n/a
n/a
n/a
n/a
n/a
n/a n/a
n/a
n/a
n/a
n/a
n/a
n/a n/a
n/a
n/a
n/a
n/a
n/a
n/a n/a
n/a
n/a
n/a
n/a
n/a
n/a
Bonds
Jan-06
Feb-06
Mar-06
Apr-06
May-06
Jun-06
TOTAL n/a
n/a
n/a
n/a
n/a
n/a
n/a n/a
n/a
n/a
n/a
n/a
n/a
n/a n/a
n/a
n/a
n/a
n/a
n/a
n/a n/a
n/a
n/a
n/a
n/a
n/a
n/a
Other
Jan-06
Feb-06
Mar-06
Apr-06
May-06
Jun-06
TOTAL n/a
n/a
n/a
n/a
n/a
n/a
n/a n/a
n/a
n/a
n/a
n/a
n/a
n/a n/a
n/a
n/a
n/a
n/a
n/a
n/a n/a
n/a
n/a
n/a
n/a
n/a
n/a
Market Capitalization (US$ millions)
Index
Jan-08
n/a
n/a
Feb-08
n/a
n/a
Mar-08
n/a
n/a
Apr-08
n/a
n/a
May-08
n/a
n/a
Jun-08
n/a
n/a
* The TSE is trading debt instruments only at this time, but there is no volume to-date
PRACTICES & PROCEDURES
Trading
Days
Hours
Market segmentation
System
Mechanisms
Market-maker/Specialists
Instruments
Currency
Real time information
Clearing & Settlement
Central Depository
Period
Registered
Settlement
Clearing
DVP
Clearing Institution
Risk Sharing
Margin/Lending
Custodians
Tuesday-Thursday
10:00-12:00
T-bills, Bonds, Shares
WAN
Secondary market
No
T-bills, Bonds, Shares
Local
Best bid/ask
Yes
T+3 for all securities
Yes
Book entry
Netting
Yes, full DVP
No
Yes
No
No
Taxes
Cash Dividends
Interest Income
Capital Gains
Structure & Regulations
Legal
Regulation
Securities market
regulations
Trading rules
Surveillance
Corporate actions
Trading halts regulations
Investor protection
Foreign Participation
Foreign investors
Investment limitations
Repatriation
Residents 10%, Non-Residents 15%
Residents 10%, Non-Residents 15%
N/a
Joint Stock Company
Semi SRO
Exchange w/ regulatory institutions
Exchange
No
Centralized
Yes
No
Allowed, No restrictions
No limitations
No restrictions
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