Podgorica, (Montena-business) - "Explaining its decision to approve the working permission to a new stock exchange in Montenegro, by legal reasons, the Commission for Securities gave just a bureaucratic answer" concluded Mr Slavko Drljevic the director of Hipotekarna Bank. Mr Drljevic said to Montena-business that the founders of Montenegroberza Stock Echange, who demanded that this decision had to be reconsidered, hadn#t considered the legal aspect of the decision, but only the economical aspect. "The Commission gave a bureaucratic answer, since we didn#t claim that the decision was illegal, but we thought it was economically irrational. According to the law it is possible to found 2 more stock exchanges in Montenegro, but it is pointless, as the country doesn#t need more than one stock exchange" said Mr Drljevic. He added that the Commission for Securities should have protected the investors of Montenegroberza Stock Exchange, who came in a worse position by the founding of NEX Montenegro Stock Exchange. "The Commission#s job is to protect the shareholders of Montenegroberza, but it doesn#t do that. That#s the reason why we will discuss this decision again at the next meeting of the Association of Commercial Banks, whose members are the shareholders of Montenegroberza" said Mr Drljevic. At today#s meeting, the Commission for Securities explained its decision to give the working permission to NEX Montenegro Stock Exchange, by preventing monopoly. The Commission emphasised that the existence of more stock exchanges in Montenegro would protect shareholders and investors, by offering them to choose at which stock exchange they want to trade with securities. af