Welcome To ZSE - Zagreb Stock Experts


Croatia, the beautiful country on the Mediterranean Sea, has lately risen to prominence with its stock market and the Forex business. After Croatia gained its independence in 1991, it slowly started to build up its stock exchange, whose activity has been limited during Croatia’s Communism days. Croatia’s Zagreb Stock Exchange has been flourishing ever since and represents the main spot for securities exchange. By 2000, the stock exchange witnessed a tenfold increase in capitalization.

The market in Croatia can be divided into two parts; Regulated Market and the Multilateral Trading Facility. Croatia represents the backbone of the current regional Forex market since it initiated several projects with neighboring countries, like Macedonia and Bulgaria, for a better integration of the regional market. Recently, the Zagreb Stock Exchange acquired Slovenia’s Ljubljana Stock Exchange. Since the two countries border each other, and share similar features and work similarly, the acquisition is seen as something that could work for both sides.

HANFA (Croatian Financial Services Supervisory Agency)

HANFA is the abbreviation of Hrvatska agencija za nadzor financijskih usluga which translates as the Croatian Financial Services Supervisory Agency, and it is the body that takes care of the non-banking financial sector and non-banking financial activities in Croatia. All persons and entities that are dealing with securities, futures, insurance, have to report back to HANFA. Forex broker regulation is also part of HANFA’s responsibilities. HANFA has also the top Forex brokers listed on its registers.

The Establishment of HANFA

HANFA actually came to being as a result of a merger of three other regulatory bodies, i.e. the Croatian Securities Commission, the Financial Services Supervisory Agency, and the Agency for Supervision of Pension Funds and Insurance. With this merger, the Croatian capital market became more centralized since there is now only one authority to dictate the rules on the market.

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Croatia Economics Base, Stock Exchange and Future of Developing the Country

Croatia is a country with a turbulent and interesting history which shaped the nation and the economy. Croatia made it from the chains of communism as a part of former Yugoslavia to a member state of the European Union. After the country’s independence in 1991, and the aftermath war which lasted for the next five years, Croatia worked hard to reconstruct the country and put its economy back on the feet.

Capital Market Regulation

The capital market and the financial non-banking sector is supervised and regulated by the Croatian Financial Services Supervisory Agency or HANFA (from Croatian: Hrvatska agencija za nadzor financijskih usluga). It is in charge of regulating the financial market, services, and legal and physical persons who provide those services.

Their main goal is to promote stability of the market by keeping the market transparent and trustworthy. HANFA also reports regularly to consumers and fosters the trust between market participants. Besides regulating the Zagreb Stock Exchange, HANFA also regulates investment companies, insurance companies, brokers, investment advisors, and intermediaries.

The Agency was established in 2005 by merging three other similar bodies (the Croatian Securities Commission, Agency for Supervision of Pension Funds and Insurance, and the Financial Services Supervisory Agency). HANFA has significant powers granted under law, and it has the right to sanction, suspend and ban companies from the market who do not work accordingly. HANFA is accountable to the Croatian Parliament.

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Croatia and the EU and Industrial Development

Croatia has been one of the Balkan countries most focused (and most successful) to join the EU. It was ready to implement the many reforms which were required to join the EU. Still, after the crisis, implementation of the economic reforms was very slow, and it led to a recession which lasted for solid six years with a tremendous drop in the GDP over the years. Croatia recently started to slowly rise from the downfall, and some progress in GDP was recorded in 2014, 2015, and 2016. Economic analysts are positive that this positive trend will continue.

As we said, Croatia was always EU-oriented and joined the World Trade Organisation in 2000 and NATO in 2009. The special moment when the second Balkan country made it into the Union was in 2013 when Croatia officially joined the EU. This was also very significant for the whole region where the countries exporting to Croatia had to follow new export rules and fulfill the EU standards to keep Croatia as a trading partner.

Since Croatia is a true seaside country, it is also known for shipbuilding which accounts for 10% of exports in the country. The industrial sector accounts for 27% of economic output, while agriculture declined tremendously and makes up for only 6% of the economy.

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buy or sale

The Stock Market became very popular with the “common man” in the digital and Internet age. The number of participants has increased rapidly in the last decade. Beginners should pay attention to how they handle their money and investments. This article is for all those who would like to join the stimulating market. Certainly, there are certain factors which need to be taken into consideration before entering the world of finances. People tend to look for easy ways to make money, and that is a natural course of events. The Stock Market has the potential to make you rich giving opportunities for earning tremendous sums of money. Still, it is easier said than done. There is more to it than just speculating without any knowledge about stocks and the securities market.

Define Your Goals in the Right Way

First, you need to know exactly what you want to achieve in what timeframe. If you are planning to make some extra cash for your old days, the Stock Market could be somewhat risky for such a far-fetched goal. It is highly volatile, and traders always have to take into account the high volatility the market is subject to.

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research stocks

Think of a situation in which you decided to buy a car. You would never go blindly into buying some products such as car without previously researching the features of that car, what model you prefer, competitions from other car manufacturers, available prizes and many other things. The same thing can be applied to buying stocks. You should never buy stock without first researching those stocks. Otherwise, you might end up with the unwanted results of that purchase. This article will provide several guiding points that might help a potential stock buyer in regards to how he or she should conduct the research and on what issues to pay special attention.

Look Through the Company's Annual Report

Even before you buy a car you would always research the make and model of that car to see what are the advantages and disadvantage of that model of the car. That logic and research approach must also be applied when deciding to buy stock from some company. Before you actually buy the stock make sure that you have research everything that might influence your decision. The first step in that process is actually to look through the annual report of the company whose stock you are buying. With some basic instructions you will be able to understand what the number in that report means and you will be able to see whether or not the given company has had success in the last year and whether or not it pays off to buy the stocks of that company. Reading through the annual report you will be able to see what the report says about the depreciation, accounting goodwill, diluted shares, and many other important aspects and using that information you will be able to determine what your next move is.

Use the Right Research Platform

One of the most useful instruments that beginners might use in order to research the stocks and the stock markets is the research platform. This platform will provide you with huge amount of information that include quotes for individual stocks, financial statements of certain companies, statistics of certain company and many other important aspects that might be useful for a beginner. One of such research platform is Fidelity.com that will enable the person to access the information about many aspects including mutuals funds, bonds, options, annuities, ETFs (exchange-traded funds) as well as sectors and industries and many other.

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