Société Générale has become a member of both the Budapest and Prague stock exchanges, extending its reach into central and eastern European markets.
The French investment bank was already a member of the Vienna Stock Exchange which, along with Budapest and Prague, is owned by the CEE Stock Exchange Group (CEESEG).
The move represents a major boost for CEESEG’s smaller exchanges as SocGen is currently the group’s 10th largest trading member.
Michael Buhl, joint-CEO of CEESEG, said: “I am happy that a large international bank makes use of the infrastructure we built within the past years. With the harmonisation of standards in our group, a uniform trading system and the respective connectivity portfolio, we provide international players with an easy access to the financial markets of the CEE countries.”
CEESEG has recently undergone a migration to Deutsche Börse’s Xetra trading system, meaning all four of its exchanges, Budapest, Ljubljana, Prague and Vienna, run on the same technology.
The move to the Xetra system means member can reduce the IT costs needed to access the markets. CEESEG has also streamlined its membership process so access too all four venues can be achieved via a single contact point.