INTERVIEW FROM BALKANS.COM
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Balkans.com: Which countries in the Balkans does your company operate in?
TeleTrader Software AG: TeleTrader is operating a development center in Belgrade since 1997. Currently TeleTrader employs over 50 highly skilled programmers who develop all software solutions we offer to our customers globally. In addition to our existing CEE focus we also established more than 2 years ago sales activities in the SEE region namely in Slovenia, Croatia, Bosnia and Herzegovina and Serbia because we saw and still see a lot of potential for TeleTrader products in the Balkan region.
Balkans.com: Do you see your company expanding further into the region?
TeleTrader Software AG: This year we did integrate already financial data of the FYR Macedonia’s Stock Exchange so we are already offering our solutions to banks, brokers and media in FYR Macedonia. We also keep a close look at markets like Romania and Bulgaria where we will start soon. In general we still see great potential in the region and also a need for high-quality international software in local versions.
Balkans.com: Please tell us about your business area and what you find most promising or concerning in terms of sector growth and sustainability in the Balkans?
TeleTrader Software AG: As a provider of software solutions and financial data for the financial industry namely banks, brokers and financial media we have to admit that we are not experiencing strong growth at the moment in the Balkans. We do see a necessary consolidation in the financial industry as well as a “wait and see” strategy at the moment. Nevertheless we also see an increasing demand for solutions which can support the advisory and sales process in the financial industry. TeleTrader experienced still strong growth in our core markets like Germany, Switzerland and Austria in the last months and as far as this region is concerned we still see good growth in Croatia and Slovenia.
Balkans.com: What changes or reforms would you like to see take place in 2009 in industries or sectors or institutions that are important for your business activity?
TeleTrader Software AG: Currently we see trading volumes at the regional exchanges reduced by 50, 60 even 70% compared to 2008, but in the last weeks they have been again increased but still not to the levels before. Investors are afraid to invest at the moment and stay in cash rather than buy funds or stocks. Going forward they are more cautious and will request more information from their financial advisor, bank or broker prior to investing. This will keep the pressure on banks and especially brokers high to consolidate, and to offer added value services to keep existing customers and attract new customers. In this environment we do see a lot of need for easy accessible information to reach more transparency and create again trust in the markets. This requested information can be provided by TeleTrader at an affordable price to all stakeholders of the financial markets in the region.
Balkans.com: What is your business focus for 2009 given this global crisis?
TeleTrader Software AG: We focus this year on 3 areas. Firstly we promote TeleTrader Professional Workstation which is the perfect real-time information solution for data, charting and technical analysis and is available in Serbian, Slovenian and Croatian language with local news-services. TeleTrader Professional covers all important regional exchanges but also various international markets, therefore it is a perfect solution for banks and fund managers who are looking for a cost effective information system. Secondly we see an increasing need for international financial data and information services in general. Due to the financial crisis people are interested in better and more information and TeleTrader is committed to deliver this content together with a software with rich functionality but also via its state of the art TeleTrader Web Service. And thirdly we are focusing on the development of new products to improve and diversify the existing product range for banks and brokers.
Balkans.com: Opportunities sometimes come with challenges. What opportunities do you foresee in this region for 2009?
TeleTrader Software AG: We totally agree that this crisis does also bring opportunities and some positive aspects. I already mentioned that we do feel the necessary consolidation process of the financial industry in this region accelerating. This will lead in our opinion to a smaller and appropriate number of players in the financial industry and those will be the financially sound and more professional ones. Together with responsible initiatives of the governments to improve the local capital markets and also with regional cooperations as they are already established this could also help to regain trust of local investors and bring back also international investors.
Balkans.com: What are the comparative advantages and challenges of the region that investors or businesses should consider?
TeleTrader Software AG: In our field we do see the highly skilled workforce in the region as one of the main advantages together with competitive wages. Challenges are still the level of unnecessary bureaucracy throughout the region as well as different legal standards in a comparable small region especially for the capital markets.
Balkans.com: Our readers include investors and businesses that are already present or are considering business in the region. What advice do you have for them?
TeleTrader Software AG: Don’t listen to those who try to badmouth this region and led you believe that Central Eastern Europe and the Balkan countries is close to bankruptcy. Make sure you do your own analyses before entering the region. It might not be the right timing for every business now but in the medium to long term this region still has growth in many areas.
