he Zagreb Stock Exchange or ZSE (Croatian: Zagreba ka burza) is a stock exchange which operates in Zagreb, Croatia. The exchange trades shares of Croatian companies, as well as bonds and commercial bills.ZSE was established in 1991. In March 2007 it incorporated VSE, forming a single Croatian capital market, leading in the region by market capitalization and trading volume. As of April 11, 2008, the ZSE includes stocks of 376 companies, with market capitalization of 302.9 billion kn (US$66.2 billion).