ELANA Trading is a member and shareholder of the Bulgarian Stock Exchange - Sofia.
Protection of funds
A leading Bulgarian investment intermediary for over 30 years
ELANA Trading is one of the oldest Bulgarian licensed investment brokers on the Bulgarian and international financial markets with over 30 years of experience
The company has a full license for its activity from the Financial Supervision Commission
Membership of ELANA Trading
ELANA Trading is a member of the Central Depository
ELANA Trading is a member of the Bulgarian Association of Licensed Investment Firms (BALIF) with active participation in the creation of the organization. ELANA is also a member of the management board.
Regular supervision over the intermediary/firm
The investment intermediary complies with all regulations concerning the supervision of its activities. As a supervised entity under the Financial Supervision Commission, ELANA TRADING AD prepares, observes and complies with all regulatory and statutory ratios, coefficients and absolute values formulated in Regulation 50 for capital adequacy, liquidity of investment intermediaries and supervision of compliance and Regulation (EU) 2019/2033. The investment intermediary complies with all regulatory and statutory deadlines for supervisory and financial reporting to the FSC and the public.
The assets of the clients are protected in separate accounts
According to Article 92 of the Markets for financial instruments Act, the Investment intermediary is obliged to separate its financial instruments and funds from those of its clients.
The investment intermediary is not allowed to use client funds for its own account. All client funds deposited in a credit institution, operating on the territory of Republic of Bulgaria, are kept in specially designated client accounts which have a special status. The investment intermediary shall not be liable to its creditors with the clients' financial instruments and assets. No involuntary interference is allowed on the funds and financial instruments of the clients for the obligations of the investment intermediary. The investment intermediary is not allowed to use its clients' financial instruments for its own account, for the account of its other clients or at the expense of any other person except with the explicit consent of the said client and under conditions specified by regulation.
The investment intermediary keeps the financial instruments of its clients in a depository institution in client accounts in the account of the investment intermediary or in accounts opened in a third-party account.
How are shares from American issuers registered in my account?
Although clients are the beneficial owners of all securities held in their account, all such securities are held in "Street Name", meaning that they are registered in the name of ELANA Trading AD in the books of the issuer. ELANA Trading AD, in turn, stores them for you in what is known as "Book-Entry form", which means that we maintain a record in our books that you are the actual owner of the securities.
Protection of the value of the invested funds in financial instruments of up to 90%
ELANA Trading is a member of the Investor compensation fund and its clients receive the protection, provided by the said fund.
The Investor Compensation Fund provides compensation to all retail clients of the investment intermediaries when they are unable to meet their obligations to clients for reasons, directly related to their financial situation, namely when a decision of a district court has opened bankruptcy proceedings for an investment intermediary or the license has been revoked, respectively the authorization to operate as an investment intermediary, due to a permanent deterioration in the financial situation and thus the intermediary is unable to perform its obligations to the clients.
The Investor Compensation Fund shall pay to the retail clients of an investment intermediary compensation for claims, arising as a result of the inability of the investment intermediary to return client assets /cash; financial instruments and other assets/.
The amount of compensation to be paid to each retail client who meets the legal conditions shall be 90% of the value of the claim, but no more than BGN 40 000.
For more information: http://sfund-bg.com/
The assets are held in respected financial institutions
The assets of all ELANA Trading's clients are held in reputable financial institutions such as Unicredit Bulbank, Raiffeisenbank Bulgaria, Eurobank and FG Bulgaria.