Moldova International Exchange (BIMx)

Moldova's capital market is small relative to its economy. Companies finance themselves almost exclusively through bank credit, and local investors have few regulated instruments available to them.

BIMx is part of the Capital Market Development Strategy 2025–2030 and aims to narrow this gap: alternative financing sources for companies and more options for investors. The state estimates attracting up to 300 million euros over the next decade.

BIMx is a joint-stock company, created through a public-private partnership. When the license was issued, CNPF accepted the qualifying holdings of five entities, which together account for 78,34% of the share capital:

• Bucharest Stock Exchange — 26,67%
• Public Property Agency (the state) — 20%
• Donaris Vienna Insurance Group — 11,67%
• Grawe Carat Asigurari — 10%
• Moldova-Agroindbank — 10%

The rest of the capital is held by the project's other partners: Moldindconbank, OTP Bank Moldova, MK Kredit Company, Moldcell, and Premier Energy.

The management was confirmed by CNPF for three-year terms: Veronica Arpintin — chair of the executive body, Andrian Iastremschi — deputy chair.

The trading platform is called ARENA and is supplied by the Bucharest Stock Exchange, which makes BIMx, technologically, a replica of the Romanian system, with investor access through modern apps. The Government approved the creation of the exchange in October 2025, and CNPF registered the founding share issue — 29.475.000 lei, 2.947.500 shares of 10 lei each — on 20 January 2026.

The authorization process is complete. CNPF issued the market operator license and the authorizations for operating a regulated market and a multilateral trading facility. All three acts were issued for an unlimited term, and the Commission also approved the operating rules of the two trading systems.

An investor does not trade directly on the exchange. Access happens through intermediaries authorized by CNPF — investment firms. This is the mechanism explained publicly by CNPF deputy chair Vladimir Rusnac: the exchange is the trading venue, and licensed investment firms are how investors get there.

After the launch, BIMx is expected to open three directions:

• for companies and local public authorities — raising capital through stock and bond issues, as an alternative to bank credit;
• for non-professional investors — access to regulated local instruments, through investment firms authorized by CNPF;
• for the market — infrastructure built on the Bucharest Stock Exchange model and integration with regional markets.

The first issues are expected by the end of 2026. As on any exchange, instrument prices can rise or fall, and investing involves risk.

Moldova will therefore have two licensed market operators. The two institutions are also linked through people: Andrian Iastremschi, BIMx's deputy chair, previously ran the Moldova Stock Exchange. It remains to be seen how the market settles after 28 September. See the page about the old exchange

The license is a real step, but trading has not started. Until the 28 September launch and the first issues, the local offering remains limited, and access to international markets happens through regulated international brokers. See also Invest in Moldova.

Trading.md is following the development of the Moldova International Exchange and preparing for the new framework of the local market. Since 2012 we've offered independent education about the entire investment universe, with regulated broker partners. At the moment, our role remains informational and educational: we help you understand the market, we don't intermediate transactions on the local market.