This profit is much lower than that estimated by BVB for 2008, worth more than RON 14 mln (€3.58 mln). But market transactions dropped sharply in 2008, reaching a €1-2 mln daily value in the past month. The Stock Exchange held a General Shareholders Meeting on 17-18 December.
For the budget, BVB took into consideration a new 10 percent cut in the average trading commission. Commissions are BVB’s most important source of income. Their ratio in total revenues will decline to some 38 percent from 64 percent in 2008.
BVB’s management estimates it will obtain RON 6.26 mln (some €1.6 mln) from its participation in the Central Depositary, while revenues from interest rates would amount to RON 4.4 mln (some €1.12 mln). The Stock Exchange plans to maintain an average liquidity of approximately RON 35 mln (€8.96 mln) in bank deposits or state bonds through 2009.
BVB is planning a RON 32.69 mln (some €8.37 mln) investment program in 2009, which will be fully financed from own funds.
