The Bulgarian Stock Exchange (BSE) and its German counterpart, Deutsche Boerse AG, signed a framework agreement October 30 on the deployment of the XETRA e-trading system of the German stock exchange, the BSE said in a filing on November 1.
The two bourses picked the platform in the end of September.

Under the agreement, Deutsche Boerse will be in charge of trade organisation and technological control over the platform's implementation. The servers of the platform will be based in Frankfurt-Hausen, Germany.
Parties to the five-year agreement are yet to agree on the financial parameters, the specifications for the XETRA system deployment, as well as the technological maintenance of Deutsche Boerse.

XETRA is due to be online by mid 2008.

All investors on both bourses will have direct access to the Bulgarian market. Bulgarian investors will enjoy single-password access and will be authorised to trade in 17 000 financial instruments, on board at XETRA.

Deutsche Boerse has been using XETRA to access the trading platform of the Vienna Stock Exchange since November 1999 and of the Irish Stock Exchange since June 2000. The Shanghai Stock Exchange, which runs the largest Chinese cash market, will also use XETRA technology as the main component in its future trading system.