Investors
For anyone who wants to understand how the stock exchange works and how to make informed investment decisions.
- Shares, bonds and stock market indices
- Analyzing financial reports
- Risk management and diversification
Educational program
BIMx Academy
The educational program of the Moldova International Stock Exchange (BIMx) for investors, issuers, brokers and the general public. The first stage prepares the market for the first BIMx listing, planned by the end of 2026; the full program, with registration and a certificate, follows in 2027.
Who it's for
Financial education for
Financial education for
the entire market
BIMx Academy programs are built around the real needs of capital market participants in the Republic of Moldova.
Issuers
For companies, local public authorities and the state raising capital through shares or bonds.
- Regulated Market or Multilateral Trading Facility (MTF): specific requirements
- Issuers listed on the Moldova Stock Exchange (BVM): how to move to BIMx
- Municipal and government bonds
- Reporting and transparency obligations
- Investor relations
General public
For students, professionals and anyone who wants to build a solid foundation in financial literacy.
- The basics, explained simply
- Glossary of stock market terms
- Webinars and open events
Brokers and exchange traders
For investment firms going through admission to BIMx and for the exchange traders they appoint.
- The ARENA Trading platform
- Exchange trader certification
- Trading simulations
- Admission as an exchange member and settlement through the Single Central Securities Depository (DCU)
- Initiating and Intermediary Participant
About BIMx
The exchange behind
The exchange behind
BIMx Academy
The Moldova International Stock Exchange (BIMx) is the market operator authorized by the National Commission for Financial Markets (CNPF). Here is what you need to know about the institution that runs the market you are studying.
21 August 2026CNPF authorization to operate the Regulated Market and the Multilateral Trading Facility (MTF)
ARENA TradingThe trading platform, developed by the Bucharest Stock Exchange and used as SaaS
DCU · T+2Trades settle through the Single Central Securities Depository (DCU) on the second business day after the trade
10 shareholdersA public-private partnership from the Republic of Moldova and Romania, with initial share capital of MDL 29,475,000
The road to the first listing
- BIMx is registered
- Licensing application filed with CNPF
- CNPF authorization for the Regulated Market and MTF
- Admission of brokers and issuers begins. In parallel: connection to DCU, operating rules, ARENA Trading training, simulations
- The ARENA platform goes live, according to the current operational schedule
- First listing planned
“Together, we are connecting the Republic of Moldova's capital market to European markets.”
BIMx shareholders Exchange rules Exchange members BIMx announcements
Learning resources
Learning tracks
Six tracks that cover the whole journey — from the first concepts and issuer admission to the trading infrastructure for brokers.
01
Introduction to the Capital Market
The basics of financial instruments, trading mechanisms and the role of the stock exchange.
9 lessons · View track 02How to List a Company on the Stock Exchange
A company's journey from the decision to list through admission to trading, plus the admission of municipal and government bonds to BIMx.
11 lessons · View track 03Financial Analysis for Investors
Tools for evaluating and interpreting issuers' financial reports.
9 lessons · View track 04ESG and Green Finance
Sustainability standards and instruments designed to finance green projects.
5 lessons · View track 05The Capital Market for Women Entrepreneurs
A dedicated program on how women entrepreneurs can access financing through the capital market.
5 lessons · View track 06BIMx Trading Infrastructure
ARENA Trading, exchange trader certification, trading simulations, membership admission, and the broker's role in admitting issuers.
9 lessons · View track
Training
Courses and modules
Courses organized by level, available online, as workshops and, for brokers, as on-platform training.
BeginnerBA-101First Steps on the Stock Exchange
What a stock exchange is, how prices are formed and who the market participants are.
4 lessons
43 min
Online
Track 01View lessons
BeginnerBA-102Shares and Bonds Made Simple
How the instruments differ, return, risk and how they are traded.
3 lessons
38 min
Online
Track 01View lessons
BeginnerBA-103How to Open an Account with a Broker
The role of investment firms, the documents you need and your first buy order.
2 lessons
26 min
Online
Track 01View lessons
IntermediateBA-201The Issuer's Guide: The Listing Process
Preparing the company, the prospectus, admission to trading and ongoing obligations.
6 lessons
1 h 20 min
Hybrid
Track 02View lessons
IntermediateBA-202ESG and Green Bonds
Sustainability criteria, ESG reporting and issuing instruments for green projects.
5 lessons
1 h 10 min
Online
Track 04View lessons
IntermediateBA-203Capital for Women Entrepreneurs
Capital market financing options, getting investor-ready and next steps.
5 lessons
1 h 17 min
Workshop
Track 05View lessons
IntermediateBA-204Admission to BIMx in Practice
Concrete requirements for shares on the Regulated Market and the MTF, and the path for BVM-listed issuers.
3 lessons
35 min
Hybrid
Track 02View lessons
IntermediateBA-205Municipal Bonds and Government Securities at BIMx
Admission of municipal bonds and government securities to BIMx.
2 lessons
20 min
Online
Track 02View lessons
AdvancedBA-301Financial Statement Analysis
Balance sheet, income statement, cash flows and key performance indicators.
3 lessons
43 min
Online
Track 03View lessons
AdvancedBA-302Valuing Listed Companies
Market multiples, discounted cash flows and comparing issuers in the same sector.
3 lessons
48 min
Hybrid
Track 03View lessons
AdvancedBA-303Portfolio Management
Asset allocation, diversification, measuring risk and rebalancing a portfolio.
3 lessons
45 min
Online
Track 03View lessons
ProfessionalBA-401The ARENA Trading Platform
The BVB–BIMx–broker operating model and the trading session, phase by phase.
2 lessons
23 min
Platform training
In progressView lessons
ProfessionalBA-402Exchange Trader Certification
Eligibility, the application file and the theoretical and technical exam for exchange traders.
2 lessons
20 min
Online
In progressView lessons
ProfessionalBA-403Trading Simulations
What to practise in the ARENA test environment before the first live session.
1 lesson
10 min
Platform training
In progressView lessons
ProfessionalBA-404Becoming a BIMx Member
The membership application, the Participation Agreement and T+2 settlement through the DCU.
2 lessons
20 min
Online
In progressView lessons
ProfessionalBA-405The Broker's Role in Issuer Admission
Initiating and Intermediary Participants and preparing issuers from the BVM.
2 lessons
21 min
Online
In progressView lessons
How it works
Your learning path
The lessons and guides are already open, no account needed. Registration, the final test and the certificate of participation come with the full program in 2027.
01
Choose a track
Pick the learning track and the level that fit your experience.
02
Register from 2027
Create an account and sign up for the course or event you want.
03
Learn at your own pace
Work through the online lessons and quizzes; your progress is saved in your browser.
04
Get your certificate from 2027
Complete the final assessment and receive your certificate of participation.
Glossary
Market terms, explained simply
Search for a term or filter by letter.
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Events
Webinars, workshops
Webinars, workshops
and conferences
The Q4 2026 sessions prepare the market for the first listing. Exact dates are announced on this page and in the “BIMx announcements” section.
In Q4 2026, before the first listing
Oct2026
Webinar · information session
Follow the announcements
How you will be able to invest in the first BIMx listing
OnlineInvestorsDate to be announced
Oct–Nov2026
Hands-on session
Register
Admission to BIMx: Regulated Market or MTF
ChișinăuIssuersDate to be announced
Now2026
On-platform training
Details
ARENA Trading and trading simulations
ARENA test environmentBrokers in the admission processBy invitation through your broker
In 2027
Q12027
Webinar
Follow the announcements
Launch of the full BIMx Academy program
OnlineGeneral publicDate to be announced
Q22027
Roundtable
Follow the announcements
Women entrepreneurs and access to capital
ChișinăuWomen entrepreneursDate to be announced
Q32027
Conference
Follow the announcements
Green finance and Moldova's capital market
HybridInvestors & issuersDate to be announced
Past events
28Sep 2026
Moldova Business Week
Press release
BIMx announces the start of broker and issuer admission
ChișinăuShareholders, authorities, the business community, investors
Publications
Guides and materials
Guides you can read online or save as PDF, built from BIMx Academy lessons — including the guide for brokers.
PDF · 9 chaptersThe beginner investor's guide
Your first steps on the capital market, explained in plain language.
Read the guide
PDF · 11 chaptersThe listing guide for issuers
The steps, documents and requirements for admission to trading.
Read the guide
PDF · 5 chaptersESG and green bonds
Standards, good practice and green financing instruments.
Read the guide
PDF · 3 chaptersHow to read a financial report
Key indicators and how to interpret issuers' reports.
Read the guide
PDF · 9 chaptersThe BIMx broker's guide
ARENA Trading, exchange trader certification, simulations and exchange membership.
Read the guide
Availability
Now
Resources to prepare for the first BIMx listing, planned by the end of 2026: lessons, guides and a glossary for investors, issuers and brokers.
2027
The full BIMx Academy program, with registration, workshops, a final assessment and a certificate of participation. The schedule will be announced here and in the “BIMx announcements” section.
When can I start?
Right now. The lessons, quizzes, glossary and guides are open, no account needed. The full program, with registration, workshops and a certificate, starts in 2027.
Do I need prior stock market experience?
No. Beginner courses are designed for people with no prior experience and start from the basics.
What format do the courses take?
The programs will combine online modules, webinars and hands-on workshops. Each course's format is shown in its description.
Will I get a certificate?
Yes, from 2027: participants who complete a course and its final assessment will receive a BIMx Academy certificate of participation. The Academy certificate does not replace exchange trader certification, which is granted only through the exam organized by BIMx.
When will I be able to buy my first shares on BIMx?
Admission of brokers and issuers began on 28 September 2026, and the first listing is planned by the end of 2026. You will trade through a broker admitted as an exchange member; the list of members is published on bimx.md.
My shares or bonds are on BVM. Do they move to BIMx automatically?
No. Admission to BIMx is a separate process that each issuer goes through; existing documents can be reused if they are still valid. Details in the lesson “Issuers listed on BVM”. Issuers can write to the Listing and Operations Department: office@bimx.md.
I work for a broker. Where can I find ARENA Trading training?
Track 06, BIMx trading infrastructure, explains the platform, certification, simulations and admission as an exchange member. On-platform training and simulation sessions are communicated directly to brokers in the admission process.
How can I be the first to hear about the launch?
Subscribe to the BIMx newsletter at the bottom of the page to get announcements about the 2026 sessions and the opening of registration in 2027.
Invest in knowledge first
Get ready for the first BIMx listing and be among the first to hear about BIMx Academy sessions.