Seven countries of the Three Seas Initiative, a presidential-level cooperation format of 12 Central and Eastern European states, have teamed up to launch a new regional index of shares on their local stock exchanges.
The announcement was made at the 29th Krynica Economic Forum in Poland.
The participating countries are Croatia, the Czech Republic, Hungary, Poland, Romania, Slovakia and Slovenia.
According to the Budapest Business Journal, the new index will be named CEEplus and incorporate more than 100 regional shares, with a daily turnover of at least 90,000 euros being a primary condition for inclusion.
Speaking at the Krynica forum on September 4, Marek Dieti, the president of the board of the Warsaw Stock Exchange, said that the daily updated value of the index would be displayed in the seven local currencies, as well as euros and US dollars.
Budapest Stock Exchange CEO Richárd Végh added that the new regional index would make access to the markets of the seven participating countries easier for both domestic and international, as well as retail investors.
“The Three Seas Region could become the economic heart of Europe. While the European Union undergoes a crisis of economic slow-down, Central Europe has a potential that is not fully tapped,” said Polish prime minister, Mateusz Morawiecki.
Photo: Budapest Stock Exchange