“We have sent the operating regulation to the CNVM for approval and we will send them the platform as well. We will have a share trading platform by the end of this year and we hope to start the spot market as of January,” Ancuta added.
When asked if Romania is ready for a second share trading operator, Ancuta replied that “our country is not a market of just €10 million a day,” referring to trading volume.
Ancuta declined to provide further details on the acquisition of the platform, but sources close to the Sibiu operator said that the platform will be bought from one of the European stock exchanges interested in taking over BMFMS. These include Eurex, Euronext, OMX, and the Warsaw Stock Exchange. The Sibiu stock exchange has already discussed the shareholders registry with Central Depositary officials, according to these sources.
“I cannot say whether we have talked to the Central Depositary but we are prepared to work with the registry of the Stock Exchange, where we will buy the platform,” Ancuta added.
On the Romanian equity market, shares are currently traded only on the Bucharest Stock Exchange (BVB). The two stock exchanges have been negotiating for several years a possible merger, but talks ended without success. The Sibiu stock exchange later announced that it would organize a spot market where it may attract even shares of various BVB issuers.
Derivatives
One week ago, BVB launched derivative transactions on the BET Index, which reflect the evolution of top 10 companies with a high liquidity level on the stock exchange.
