• Private clients
• Trade through COBOS
• Transactions in securities
• Types of compensatory instruments
• Trade with government securities
• Tariff
• Individual portfolio management
• Documents
• Investment consulting
• Corporate clients
• Public companies
• About us
• Contacts

Types of compensatory instruments

The main types of compensatory instruments traded on the BSE-Sofia are:

Compensation and housing compensation notes     

The issuance of compensation and housing compensation notes started in end-1998 on the grounds of the Indemnification of Nationalized Property Owners Act known as Luchnikov principle.
Issuers of compensation and housing compensation notes are the Ministry and the respective institutions (principals of the nationalized property), as well as the Regional governors’ offices.
With the compensation notes are indemnified the persons or their assignees for any movable or immovable property (excеpting land), securities, valuables nationalized or alienated which  cannot be restored in real terms for objective reasons /e.g.the property is demolished, reconstructed or acquired in good faith from third person/.
With housing compensation notes are indemnified the owners or their assignees of alienated houses, not built-up or built-up plots within the boundaries of the Regulation plans of the populated areas and areas used or designed for residential development, and the ownership cannot be restored. The housing compensation notes provide the owners with the same rights as that the compensation notes’ owners.

Registered compensation vouchers – are issued pursuant to the Agricultural Land Ownership and Use Act and the Law on Restoration of Ownership over Forests and Land in the Forestry Reserve.
Issuers of registered compensation vouchers are the local Land registers and the Ministry of Agriculture and Forestry and they indemnify:

- owners or their heirs who owned farmland prior the formation of the co-operative farms or state-owned farms and whose ownership cannot be restored
- owners of forests, excluded from the national forestry reserve for demolition as well as the persons whose ownership cannot be restored with forests and lands from the forestry reserve
- bulgarian citizens or their heirs, who owned farmland but it was used for the acquittal of the national debt in compliance with the Agreement for settlement the pending financial matters and development of the economic co-operation between Bulgaria and Greece.

According to the last amendments in the legislation, all issued notes or vouchers have a common register. The Central Depository keeps this register.