BSE-Sofia cuts costs of hired services by 15% in 2013 (POSITIVE)

Bulgarian Stock Exchange-Sofia has managed to successfully renegotiate the conditions on part of the hired services it uses. Hence BSE’s costs of hired services would decline by 15% in 2013, which would improve significantly the bourse’s operating profitability. Costs of hired services (55% of which were XETRA fees as of H1’12) were equivalent to 60% of BSE’s operating revenue as of H1’12.