LJUBLJANA, VARAZDIN STOCK EXCHANGES SIGN COOPERATION MEMORANDUM

LJUBLJANA, Dec 4 (Hina) - The director of the Varazdin Stock Exchange, Melita Marceta Racanovic, and Ljubljana Stock Exchange director Drasko Veselinovic on Wednesday signed a memorandum on data exchange, confirming cooperation that was established earlier this week when the Varazdin Stock Exchange started trading in stocks in line with a trade model developed in Ljubljana. #L# "This step was taken due to strategic and technical reasons," Marceta Racanovic said. The memorandum refers to the exchange of information on the Internet, joint preparation of statistics, the electronic issuing of information and a joint Internet portal. If the project contributes to making markets better informed, the next stage of cooperation could include the linking of trade systems, Veselinovic said. He added that Ljubljanska Banka was already cooperating with stock exchanges in Banja Luka, Skopje, Sarajevo and Podgorica. Similar agreements should be signed with Zagreb and Belgrade stock exchanges, which have a different system of trading than the Ljubljana Stock Exchange, Veselinovic said. This would mean higher costs, but is not an obstacle to cooperation, he added. (hina) rml sb