LISTED SMEs RESEARCH COVERAGE – Partners – Zagreb Stock Exchange


The Zagreb Stock Exchange was first established as the Commodities and Valuables Division of the Chamber of Commerce in 1907 and was active until 1911. After World War I, the Zagreb Exchange reopened in 1919 and enjoyed the trust of foreign clients, those from Vienna and Prague, and a number of financial transactions were conducted through it, forming exceptionally strong foundations of banking and finance in Zagreb. With the arrival of the socialist regime in power, its operations were suspended in 1945. 

Croatia’s exchange did not see its revival until as late as 1991, when 25 banks and two insurance companies established the Zagreb Stock Exchange as the central place of securities trading in the Republic of Croatia. A rapid development of share ownership and trading in Croatia is best illustrated by the fact that in the first five years following the introduction of the electronic trading system, between 1995 and 2000, the Zagreb Stock Exchange market capitalization grew almost 10 times.

Today it lists more than 150 companies and is comprised of two stock markets: Regulated Market and Multilateral Trading Facility.

Since 2010 Zagreb Stock Exchange has introduced some significant novelties to the domestic capital markets: it has established market making and structured products trading, started operating a multilateral trading facility, introduced eight new indices and begun issuing LEI codes. Zagreb Stock Exchange also established Investor Relation Award for listed companies as well as Zagreb Stock Exchange Annual Awards. With the support of European Bank for Reconstruction and Development Zagreb Stock Exchange founded Zagreb Stock Exchange Academy in 2010, which has had more than 6,000 students so far.

Together with Bulgarian and Macedonian stock exchanges, Zagreb Stock Exchange has established the SEE LINK company in May 2014 with the objective of creating a regional infrastructure for trading securities listed on those three markets and the system is operational from the first quarter of 2016.

At the end of 2015 Zagreb Stock Exchange acquired the Ljubljana Stock Exchange by taking over 100% of its shares from the CEE Stock Exchange Group. Since the Zagreb and the Ljubljana Stock Exchange share a similar development path and financial system framework, with Slovenia’s capital market being very similar to that of Croatia by the degree of its development, structure and potential, it is expected that acquisition will yield positive effects for both exchanges and both capital markets, while also resulting in numerous synergies.

Founded in September 2016, Funderbeam South-East Europe is headquartered in Zagreb, with Zagreb Stock Exchange having a 20% stake in the joint venture. The company is supported by the European Bank for Reconstruction and Development through its Shareholders Special Fund.
Funderbeam is a global fundraising and trading platform for early-stage companies, which investors can use to trade their stakes on after the initial investment is made. All this is possible thanks to an innovative system based on the blockchain technology.F

For 25 years Zagreb Stock Exchange leads the development of the capital market in the region while providing transparent, secure, cost-effective and efficient marketplace as well as obtaining the highest quality of capital market services in order to meet the needs of investors, issuers and all stakeholders.

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