Trade out of stock market

Financial instruments tradable out of organized stock market are:

  • Debt financial instruments issued by the Republic of Serbia and
  • Shares issued by shareholding companies not incorporated into organized market.

Value of the Government’s bonds of the Republic of Serbia may be expressed in dinars or in foreign currency. The Bonds may be short-term (with maturity up to 1 year) and long-term (with maturity over 1 year). Both legal entities and natural persons may buy Government bonds. Investments made in Government bonds are free of direct tax duties.


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  • Broker-dealer operation rules
  • Order execution policy
  • Client’s categorization rules
  • Policy governing conflictof interests
  • Rules on procedure and measures for prevention of market manipulations
  • Tarrifs