Most of the profit was made in the second quarter of 2009, when market liquidity also improved. The average daily trading value doubled in Q2 compared to the first three months of this year, up to €6.2 mln. However, in the first six months, the value of transactions on the Stock Exchange plunged by almost 60 percent, at a daily average of €4.6 mln.
According to BVB’s management, the company saved RON 350,000 (over €80,000) in salary-related expenses, and also cut operating expenses.
“In the first six months we managed to keep the budget under control. However, the results were below the level registered in the corresponding period in 2008,” BVB’s Chairman, Stere Farmache, told Business Standard.
For this year, the Stock Exchange budgeted a gross profit of RON 7.8 mln, considering an average daily trading value of €5 mln (computed at an average exchange rate of RON 4.2/€1) and an average commission 10 percent lower than that in 2008.
