Annual Report 2004 - Georgian Stock Exchange

International
Relations
Georgian Stock Exchange from the year 2000 has been a member
of the Federation of the Euro-Asian Stock Exchanges
GSE actively cooperated with the Federation of
Euro-Asian Stock Exchanges (FEAS) in 2004.
Specifically, on 14-15 December, 2004 in Armenia
the roundtable of its two members - the Armenian
Stock Exchange and the GSE was held. At the meeting
the following opportunities for future cooperation
were identified: forming a common trading area,
organizing cross-listing on both of the stock
exchanges, prospects for political support of these
activities, the role of the state regulatory bodies, etc.
In 2004 GSE closely cooperated with non-FEAS member
stock exchanges as well seeking for cooperation
that will facilitate further development of the securities
market in Georgia.
On 17 March 2004 the presentation “Capital Market
- A Tool to Increase Economic Growth of Country, the
Greece Experience” was held in Tbilisi for the
Georgian government and business representatives.
Thessalonici Stock Exchange Center (TSEC) representatives
made the presentation within the framework
of the Greek Government support program for the
GSE. The support activity aimed at highlighting the
importance of nascent stock market in Georgia
through sharing the experience of Greece.
The Greek experts shared their experience in privatization,
public offering of securities and in training.
They expressed their readiness to support the institutional
development of the GSE and the GCSD. At the
meeting the Greek investors' interest in the joint listing
of certain Georgian companies was expressed.
On March 18-19, 2004 in the framework of the GSE
support program the two day training course was
conducted by the TSEC specialists. This was a good
opportunity for the GSE brokers to get familiar with
both theoretical and practical aspects of market liquidity,
risk management and company analysis.
On March 19, 2004 the Memorandum on Mutual
Cooperation between the GSE and the TSEC for harmonization
of their trading platforms and clearing
and settlement systems was signed.
ANNUAL REPORT 2004
40
Georgian Stock Exchange JSC
Georgian Central Securities Depository JSC