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The Albanian Securities Exchange announces to the public that, based on the decision date 23.10.2020 made by Albanian Supervisory Authority for revoking the license of the brokerage firm “Triumf Grup”, the latter has been suspended from accessing the ALSE’s electronic trading system (ETS), until a final decision by the ALSE Supervisory Board.
The brokerage firm “Triumf Grup” is ALSE’s member for trading Government Securities (GSM) since 30.01.2019.
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The new law on the capital market is a precondition and a driving factor for a transparent, well regulated and reliable capital market, however, the development of this market will also depend on a number of other factors, such as: expanding the investor base,
improving market infrastructure, the range of financial instruments, matching demand and supply for securities, investors and issuers’ financial education, or encouraging companies to be listed on stock exchange, through a public offering.
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Source: Bankieri No.37 October 2020
For more information about Reported Transaction (OTC) on 14.10.2020 click
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The online webinar “New investment opportunities in Albania: Cryptocurrencies, Block chain and financial markets under the light of the Fintoken law”, organized by Confindustria Albanian and the legal studio Tonucci & Partners was held on October 12th 2020. There were present in this webinar, H.E Fabrizio Bucci, Ambassador of Italy in Tirana, Mrs. Vasilika Viero, Vice Minister of Finance and Economy, Mr. Sergio Fontana, President of Confidustria Albania, participants from domestic important financial institutions and other experts in the field of Blockchain and Cryptocurrencies.
The Executive Director of Albanian Securities Exchange, Mr. Artan Gjergji, held also a presentation making a summary of the Albanian Securities Exchange development and giving a general point of view of the architecture of capital markets and securities industry in Albania.
Furthermore, there were explained some important concepts regarding the application of Fintech and Blockchain in financial markets focusing specifically on the securities market. During this presentation there were highlighted two key points: Initial Coin Offering (ICO) and Security Token Offering (STO). Also, a summary was made regarding he statistics of the status-quo of Blockchain and Cryptocurrencies market around the world.
Mr. Gjergji expanded in the benefits of STOs, not only in the financial system but widely in the economy. In the end of the presentation there were addressed challenges and problems that will face the Blockchain industry in Albanian starting from the lack of infrastructure, lack of market operators, autocratic licensing and surveillance process, modest phase of domestic capital market development, and low educational and financial literacy of the public.