name: Sarajevo Stock Exchange
Sarajevo Stock Exchange (Sarajevo Stock Exchange, SASE) is a stock exchange operating in Sarajevo, Bosnia and Herzegovina. The exchange was established in September 2001 and started trading on April 12, 2002. It has eight founding members. According to the Securities Law, members of the Sarajevo Stock Exchange can only be legal entities. Its founding capital is 200,000 BAM (1 BAM=0.51 Euro).
All members of the Sarajevo Stock Exchange must obtain the Persian Federal Securities Commission’s securities trading license in order to conduct business. Those authorized members can only allow transactions if they pass the broker exam. The Securities Commission stipulates the methods and conditions for taking the exam, as well as the right to revoke licenses. The broker must hold a valid license issued by the agency.
Currently, the Sarajevo Stock Exchange has 16 members. The general meeting of shareholders elects a five-member board of supervisors for a term of four years. The board of supervisors is responsible for the strategic planning and daily operation management of the exchange. On March 21, 2006, the Sarajevo Stock Exchange and the members of the Board of Directors of the Vienna Stock Exchange signed a memorandum.
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