Romanian brokers preparing to adopt Wall Street working hours

Sibex’s management plans to develop a three-month pilot program, from 23 March to 20 June. All managers still require for the application of this is the approval of brokers, who together generated over 50 percent of the derivative turnover in the first two months of 2009.

Sibex officials explained that transactions on this market intensify usually after 3:30 p.m., when data regarding major economic indicators appear in the U.S., and especially after 4:30 p.m., when trading on the New York Stock Exchange begins.

“We have been all for this. The market is looking at evolutions in the United States, and if a further daily 500 contracts can be made, due to an extended schedule, this will make a difference in broker activities,” said Valentina Mereuta, head of the Derivative Department of Broker Cluj, one of the most active brokerage firms on this market.