Banja Luka Stock Exchange (BLSE)

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Banja Luka Stock Exchange (BLSE)

Name Banja Luka Stock Exchange (BLSE)
Country Bosnia and Herzegovina
Number of listed companies 516
Domestic market capitalization 4530 million US$
SSE Partner Exchange Yes
Has annual sustainability report No
ESG reporting required as a listing rule No
Has written guidance on ESG reporting No
Offers ESG related training Yes

In 2022, the Banja Luka Stock Exchange provided training on Climate-related Financial Disclosures (TCFD recommendations) in collaboration with the SSE, CDP and IFC. (source)
Market covered by sustainability-related index No
Has sustainability bond listing segment No
Has SME listing platform No
Women on boards mandatory minimum rule No
Additional information

Organizational model of stock exchange
  • Joint-stock company (Private company)
Regulatory bodies

Regulatory model
  • Under the Law the Commission is delegated the authorities and powers to:
    • Pass regulations on the Republika Srpska securities market operation; Prescribe the conditions, issuing method and trading of securities distributed through the public offer
    • Issue licenses and permits for the establishment of investment funds and investment fund management companies and other authorized participants in the securities market as well as supervise their operations
    • Monitor compliance with rules for ordinary trading and fair competition in securities trade
    • Organize, undertake and supervise measures for ensuring the efficient functioning of the securities market and the protection of investors’ interests
    • Prescribe elements of mandatory disclosure to investors and the public on the operations of issuers and other securities market participants and supervise the application thereto
    • Suspend the issuance and trade of particular securities and undertake other activities in the case of manipulation during trade, or when it estimates that certain activities are endangering interests of investors and the public, or they are not in accordance with the Law or other regulations
    • Monitor and assess the situation and securities market trends
    • Implement the previous activities if provisions and regulations of the Law have been violated, pronounce fines for violations and undertake other measures for which the Commission is authorized;
    • Provide information on the activities of the securities market and disseminate such information
    • Cooperate with cognate international organizations.
About the stock exchange

Location: Banja Luka, RS, BiH.

Criteria for Stock Exchange Database

The SSE maintains a database of sustainability activities for all stock exchanges that are either members of the SSE initiative and/or members of the World Federation of Exchanges. This database is the most comprehensive database of stock exchanges worldwide and contains data on all main stock exchanges. The information in this database is intended to inform investors and other stakeholders on the work stock exchanges are undertaking to advance sustainability in their respective markets.

The information provided in this database is based on publicly available information prepared by the SSE Secretariat with input from stock exchanges in most instances. Sources and explanatory notes on sustainability information have been included in individual Stock Exchange Fact Sheets. The criteria for each category can be found below.

While every effort is made to keep the information in this database up to date, please be aware that certain factors change frequently and therefore may not be exact, such as the number of listed companies or market cap.

Field

Criteria Considered
Country Country of primary residence or registration
Has signed the SSE Commitment Letter? To be considered an SSE Partner Exchange, the CEO or Chairperson of the exchange must sign an SSE commitment letter. Contact the SSE for more information if your exchange would like to join.
Has annual sustainability report? For a yes, stock exchanges must report, either in a stand alone report or integrated into their financial report, on their environmental and social impact and corporate governance.
ESG reporting required as a listing rule? For a yes, all three factors have been considered (environmental, social and governance) within the listing rules for some or all listed companies. This requirement may come from the regulatory authority or the exchange, depending on the market.
Offers written guidance on ESG reporting? For a yes, all three factors have been considered (environmental, social and governance). The SSE has developed a model guidance that all exchanges can use to develop their own guidance to issuers. For more details, click here.
Offers ESG related training? For a yes, training must have taken place in the previous 12 months, and must be interactive. The topic of the training must be on some area of sustainability.
Market covered by sustainability-related index? Sustainability-related indices may include environmental or social  indices, or ESG indices. This could include specific themes, such as low carbon indices, or general sustainability indices. The index must be specific to the market the exchange operates in (a region or world index is not included).
Has sustainability bond listing segment? For a yes, the exchange has developed the rules and regulations allowing for sustainability bonds to be listed, and provides a separate segment for listing making the bonds easy to find and identify.
Has an SME listing platform? For a yes, the exchange offers a listing platform specifically for Small-and-Medium sized enterprises.
Additional Information Additional Information captures exchanges’: sustainability section of websites,  sustainability products not captured under indices; information on future sustainability commitments and other information on the exchange
Organizational model of stock exchange Whether the exchange is listed or not, and when it was demutualized
Regulatory bodies The regulatory authority that sets listing requirements and capital market regulation for the exchange's market
Regulatory model

The extent to which exchanges have regulatory authority in their market. This may include:

  • Limited exchange SRO
  • Strong exchange SRO
  • Independent member SRO
  • Government (Statutory)
  • Non-SRO
About the stock exchange The location of the headquarters of the exchange, and any additional details about the stock exchange.