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Sale of securities

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Following the primary sale of securities, any other offer, or trade securities is a secondary offering of securities. Secondary trading may take place only in the regulated market. Banja Luka Stock Exchange is regulated market on which to perform secondary trading of securities. Trading is done five times a week every day from Monday to Friday.

Details on the types of markets and how trading in the Banja Luka Stock Exchange can be found in the submenu of the trading system.

To sell securities (stocks, bonds) in the Banja Luka Stock Exchange, it is necessary that the client has signed agreement with an authorized broker agent in the capital market of the Republic of Srpska (EUROBROKER) and an order for sale of securities that are registered to Banja Luka Stock Exchange.

How to become our customer and issued sales order you can read here.

After the client signed a contract of brokerage intermediation, that person may sign the order for sale of securities which has on the owner's account.

It is desirable that the person has a document confirming that he is the owner of the underlying securities.

The broker will inform the customer about the movement of supply and price of the securities and briefly explain the method of price formation on stock exchanges and the technology of trading. The client will decide on the elements of the order which the most important:

• Type of securities: securities that the client wants to sell;
• The amount of securities: the amount of securities that the client wants to sell;
• Price: the minimum price at which the client wants to sell the securities. The client may sign and selling orders at the market price, which means that the broker is authorized to execute an order at the best market conditions, the first day of trading;
• Time of execution: the order may be daily and open, or may apply to a specific date. Daily order is valid only for the first day of trading, Open order is valid until revoked, and if an order is not executed within 180 days from the date of entry, modification or confirmation, BST it automatically deletes.

Details on the types of accounts can be found in the submenu of the trading system.

Order for sale of securities is received if it contains all the required elements. If the broker determines that because of inaccurate data can not possible in a timely manner to complete the procedure for a client in the Central Registry, or if for some other reason can not enter the order in BST, he is obliged to inform the client and to refuse that order.

If the information is correct broker enters an order in the BST of the next trading day since receipt of order (applies to orders issued in the branches).

When the order is done, within three days (T +3) will be made clearing and settlement, which means that the buyer will receive purchased shares on a client account, while at that day, the stock broker will give an order for payment received from sale securities to the bank account of the seller.

The money that the client seller will receive in his bank account, is amount of the sale price of securities less the brokerage fee.

When the order is done, stock broker is obliged to inform the customer in writen form. Notification on implementation of the orders also includes the calculation of work