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NameBulgarian Stock Exchange
Number of listed companies385
Domestic market capitalization16,887 million US$
SSE Partner ExchangeYes
Has annual sustainability reportNo
ESG reporting required as a listing ruleNo
Has written guidance on ESG reportingNo
Offers ESG related trainingYes

In 2022, the Bulgarian 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 indexYes

BSE has adopted Refinitivs Environment, Social and Governance (ESG) metrics to power its sustainability index launched at the end of 2022.

Has sustainability bond listing segmentNo
Has SME listing platformYes
  • SME Growth Market beam is a special market organised by the Bulgarian Stock Exchange (BSE) which enables the financing of small and medium companies in Bulgaria.

Women on boards mandatory minimum ruleNo
Additional information
Organizational model of stock exchange


Regulatory bodies

Regulatory model
  • BSE considers its regulatory model to be of a Limited Exchange SRO (Limited exchange self-regulatory organization). Although its activities as market operator (as well as those of the listed companies and trading members) are supervised by the Bulgarian Financial Supervision Commission, BSE as the market operator for the Regulated Market, has the authority to regulate the organization and carry out the specific activities of its markets in terms of financial instruments available for trading, as well as specific rules applicable to listed companies and trading members. BSE also monitors activities of its trading members and listed companies, within the specific framework that is in line with applicable regulation.

About the stock exchange

Bulgarian Stock Exchange is a public company that was officially licensed by the State Securities and Exchange Commission to operate as a stock exchange on October 9, 1997 and is currently the only functioning stock exchange in Bulgaria. Bulgarian Stock Exchange is licensed to operate as a benchmark administrator of financial instruments and financial contracts or to measure the performance of investment funds following the requirements of Regulation (EU) 2016/1011. In this way, BSE is a part of the European family of benchmark administrators, among which are the stock exchanges in Austria, Germany, Greece, Ireland, Slovenia, Hungary and Croatia as well as the groups of NASDAQ and Euronext. Founded in 1995 by the merger of several regional exchanges Bulgarian Stock Exchange AD is the driving force that contributes to the further development of the Bulgarian capital market. BSEs core business includes operation of a cash market (equity market, bond market and other financial instruments), operation and maintenance of information systems for trading in securities, establishment and maintenance of a clearing system guaranteeing the obligations assumed under securities transactions executed on the Exchange. BSEs mission is to facilitate the development of an organized capital market which guarantees its members and their clients equal access to market information and equal conditions for participation in exchange trading. Corporate social responsibility is part of the Bulgarian Stock Exchanges business model. The Exchange has adopted a corporate social responsibility policy that covers the company and its employees and contributes to the sustainable development of Bulgaria.