Traded value increases by 30% on BVB in Q3

The Bucharest Stock Exchange (BVB) released yesterday the financial report afferent to the third quarter of the year showing a noticeable improvement, both in the traded value and in the net profit. So, after sales revenue in the amount of RON4.7 million, up 18% over Q3 in 2012, BVB reported a net profit of RON1.2 million. The increase is mainly due to a growth in the traded value with 30% and to the successful completion of Nuclearelectrica’s IPO, worth EUR63 million.

Increases were also recorded in the BVB’s costs, mainly because it’s going through an internal restructuring. Therefore, the operating costs registered between July – September 2013 amount RON3.7 million, 25.1% higher over Q2 in 2013 and, at the same time, with 30.2% more compared with same interval in 2012. 

During the related press conference, Ludwik Sobolewski, the BVB’s CEO, discussed the major development directions for getting from a frontier market status to an emerging market status: ‘There are three pillars or three important directions. Firstly, we have to bring more ‘oxygen’ to the market and discard those factors that should not be here and that restrain institutional investors from entering the market. Secondly, we have to be creative and make some things different than other markets. And thirdly, we have to bring in the market those solutions already tested by other markets and that have proven they work.’ 

The main steps that are going to be taken are: the continuation of the internal restructuring, the change of the functioning of the trading and post-trading infrastructure; the improvement of the trading, the resume of the derivatives trading in 2014 or the inclusion of new market mechanisms.  Additionally, the trading hours will be extended until 18:00 in order to match with external markets such as London or New York, as well as the period within which traders can make transactions at the fixing price settled when closing, period that will be extended with 10 minutes, informs a press release from BVB.

May 31, 2022 16:54
Smart ID Dynamics, an independent leading company in the industrial automation...more »
May 09, 2022 21:20
Dentons assisted BRD – Groupe Société Générale and Raiffeisen Bank Roman...more »
 
April 04, 2022 16:25
Dentons assisted a consortium of four domestic and international banks —Raif...more »
April 04, 2022 16:23
Wolf Theiss acted as legal advisor to Raiffeisen Bank in relation to a EUR 325...more »
Govnet Next Events