Euro Corner

In the context of Slovenia’s impending entry to the European Monetary Union and introduction of the Euro as the new national currency, the Medvešek Pušnik Stock brokerage house Inc. has prepared a special internet page, the so called Euro Corner, where we will publish all current events and information related to acceptance of the Euro.

We assure you the Group is taken precautions to ensure that the national currency transition occurs smoothly within the company. In first semester of 2005 and in accordance with the requirements of the Securities Market Agency, we have already prepared the action plan and determined the necessary tasks to be performed before the introduction of the Euro, including the appropriate deadlines for their conclusion.

One of key projects under preparation is the double marking of service prices. In accordance with The Double Marking of Prices in Euro and Slovenian Tolars Act, double marking of prices must be undertaken by 1st March 2006.

Similar pages:

• Main Euro internet page
• Euro Project and The Bank of Slovenia
• Ministry of Finance
• Economic Chamber of Slovenia
• European Central Bank
• European Union internet portal

Euro News

20 January 2006 – Double Marked Pricelists Published

On Monday, 20th February 2006, the Medvešek Pušnik Stock brokerage house Inc. published the amended pricelists in accordance with requirements laid out in The Double Marking of Prices in Slovenian Tolar and Euro Act (ZDOCTE) and thus commenced the informative double marking of prices for its services.

Conversion of prices expressed in Slovenian Tolar to Euro was performed on the basis pf the central parity exchange rate of SIT 239.640 SIT for EUR 1. This method of price marking will be valid by acceptance of the so called conversion rate that is the irrevocable exchange rate between Slovenian Tolar and Euro, when the conversion will be repeated and the pricelists amended accordingly.
At this point, we would like to stress that prices expressed in Euro are for information purposes only and can not be paid as such.

Since the purpose of the applicable regulation is, among others, achievement of gradual adaptation and preparation of consumers for goods and services priced in Euros, the act makes companies liable for informative double marking of prices solely in relation to consumers and not in relations with legal entities. Nevertheless, the Medvešek Pušnik Stock brokerage house Inc. has decided, that e.g. in issued accounts of security business operations, which are covered by provisions of ZDOCTE, there will be no differentiation between natural and legal persons, when stating the final amount, which will be in all cases expressed in both currencies (SIT and EUR). The above mentioned account and all other invoices will have double marked prices from 1 March 2006 on, as prescribed by law.

25.1.2006 – First Round on Internal Training

On 18 January 2006, the Medvešek Pušnik Stock brokerage house Inc. completed the first round of internal training for employees about introduction of Euro as the new national currency. The topics discussed included:

• EU legal sources (Council Decrees, Nos. 1103/97, 2595/2000, 974/98, 2596/2000, 2169/2005 and 2866/9);
• Overview of required legal adjustments resulting from introduction of Euro on national level, in particular;
• Introduction of the crucial provisions of The Double Marking of Prices in Slovenian Tolar and Euro Act (ZDOCTE) and the umbrella act (Euro Introduction Act, working copy) and
• Overview of the ongoing preparations of the Security Market Agency and Ljubljana Stock exchange for introduction of Euro.