alse
About Membership
To become a Member, each bank and/or brokerage company licensed by the Albanian Financial Supervisory Authority (AFSA) must submit an application to the Albanian Securities Exchange (ALSE), in accordance with the provisions of Chapter 2 of the Rules and Regulations of the Albanian Securities Exchange.
The admission of a bank and/or brokerage company licensed by AFSA as a Member of ALSE is subject to prior written approval by ALSE. ALSE grants equal access rights to the ALSE Market to all eligible Applicants that meet the admission criteria set forth in these Rules and Regulations and in the applicable Albanian laws.
Membership Process and Steps
1 Submission of the application
Applicants submit to ALSE a written application for Membership, using the standard form approved by ALSE, along with all required documentation.
2 Request for additional information
ALSE may request additional information and documents from the Applicant and may initiate investigations to verify the information submitted, if it deems this necessary. ALSE may require one or more representatives of the Applicant to appear for an interview at ALSE.
3 ALSE's decision-making
Upon receiving an application for Membership and any additional information it has requested, ALSE approves or rejects the application at its sole discretion, or approves it subject to any conditions and/or restrictions it deems appropriate. ALSE notifies the Applicant in writing of its decision, stating the reasons for that decision. ALSE must adopt its decision and communicate it to the Applicant within a period of thirty (30) business days from the date on which it has received all the information that, in its judgment, it has considered necessary for evaluating the application.
4 Authorization of Brokers
In the case of approval of Membership, ALSE's decision must also include the authorization allowing the Member's Broker(s) to act as user(s) of the ETS System.
5 Confidentiality
ALSE shall maintain the confidentiality of information submitted by a Member or an Applicant in connection with a Membership application, or obtained by it during the review of the application.
6 Notification of the FSA
ALSE notifies the FSA and, as applicable, the Clearing and Settlement Institution(s), of the admission of new Members and their Brokers, as well as of the date of their approval and/or the date on which they will begin trading.
7 Rejection and the right of appeal
If ALSE decides to reject an application, it shall immediately notify the Applicant in writing. The Applicant in question may appeal ALSE's decision to reject Membership to the FSA, in accordance with the applicable Albanian laws.
List of Documentation for Membership in the Albanian Securities Exchange
The following documents are required as part of the application file, in accordance with the relevant articles of the ALSE Regulation.
Membership agreement, using the standard agreement approved by ALSE.
Article 2201/1 (iii)Written application, using the standard form approved by ALSE.
Article 2301/1 (i)Updated historical extract from the National Business Center.
Article 2301/1 (ii)Copy of the license issued by the FSA authorizing the Applicant to carry out activity in the Securities market.
Article 2301/1 (iii)Copy of the license issued by the FSA for the Applicant's Broker(s).
Article 2301/1 (iv)Copy of the contract concluded between the Applicant and its Broker, including the result of the skills assessment test of the Broker(s) to act as a user of the ETS System at ALSE.
Article 2301/1 (v)Copy of the standard agreements (where applicable) to be concluded between the Applicant and its clients, on whose behalf it will trade.
Article 2301/1 (vi)The Applicant's contract with the clearing and settlement member (CSM), for the clearing and settlement of Securities by type in AFISaR/ALREG.
Article 4701/3,4Agreement with AFISaR/ALREG for the Applicant's securities accounts.
Article 4702/4Copy of the Applicant's NUIS (Unique Identification Number).
Copy of the certificate confirming that the Applicant has paid its fiscal obligations.
Document confirming payment of the financial obligations for membership in ALSE.
Article 2401 (iii)Fulfills any other criteria that ALSE may establish in relation to Membership.
Article 2201/1 (v)Membership Application Form
Click hereMembership Agreement
Click hereMembers by Markets and Instruments
| Trade Name | Decision number of the ALSE Supervisory Council | Date of Decision of the ALSE Supervisory Council | Trading Class |
|---|---|---|---|
| Credins Bank | 6 | 7/11/2017 | Debt Securities (DSM) |
| American Bank of Investments | 6 | 7/11/2017 | Debt Securities (DSM) |
| Intesa Sanpaolo Albania Bank | 32 | 5/21/2019 | Government Securities (GSM) |
List of ALSE Members
The third-largest bank in the Albanian financial system by the size of its loan portfolio. Although relatively new to the Albanian banking system, Credins has managed to advance rapidly toward the country's largest banks, mainly thanks to lending flexibility and innovative business solutions that go beyond conventional banking, including banking services fully compliant with the Albanian legislation in force.
American Bank of Investments sh.a. (trade name ABI Bank) was licensed by the Bank of Albania in October 2015 and is a wholly owned subsidiary of Tranzit sh.p.k., an Albanian non-bank financial institution. Originally established in 1998 as the Commercial Bank of Greece (later Emporiki Bank Greece S.A.), in 2012 it became part of IUB Holding, a French company 100% owned by Credit Agricole S.A. In October 2015, IUB Holding sold 100% of its share capital to Tranzit sh.p.k. The bank offers deposit-taking, payment and other banking activities in compliance with the Albanian legislation in force.
Part of the Intesa Sanpaolo Group, it is the fourth-largest bank in the country, offering its over 400 years of banking expertise through a network of 35 branches in Albania and its innovative Digital Banking platform. Intesa Sanpaolo Bank Albania works to provide quality banking and financial services to the customers and communities where it operates, competing in the market on the principle of "fair play" and collaborating with public and private economic entities. Since August 21, 2019, Intesa Sanpaolo Bank Albania has been a full member of the Albanian Securities Exchange ALSE.
List of Individual Brokers
| Name Surname | Certificate Number | Certificate Date | Brokerage Company | Trading Class |
|---|---|---|---|---|
| Alketa Gusho | 01/1 | 7/11/2017 | Credins Bank | Debt Securities (DSM) |
| Teuta Cinari | 02/1 | 7/11/2017 | American Bank of Investments | Debt Securities (DSM) |
| Elona Korini | 06/1 | 8/21/2019 | Intesa Sanpaolo Bank Albania | Government Securities (GSM) |
| Doriana Qose | 01/3 | 7/5/2020 | Credins Bank | Debt Securities (DSM) |
| Sonja Lika | 01/4 | 5/23/2023 | Credins Bank | Debt Securities (DSM) |
Membership Fees
| ALSE Membership Categories | Application Submission | Membership | Trading | Access to ETS | Total |
|---|---|---|---|---|---|
| Member of Government Issued Securities (GSM) | 7,000.00 | 189,000.00 | 35,000.00 | 70,000.00 | 301,000.00 |
| Member in Debt Securities (DSM) | 7,000.00 | 294,000.00 | 70,000.00 | 140,000.00 | 511,000.00 |
| Member of Equity Securities (ESM) | 7,000.00 | 294,000.00 | 49,000.00 | 119,000.00 | 469,000.00 |
| Member in Other Titles (OSM) | 7,000.00 | 224,000.00 | 28,000.00 | 98,000.00 | 357,000.00 |
| Member in All Titles (ASM) | 7,000.00 | 384,000.00 | 100,000.00 | 200,000.00 | 691,000.00 |