SSIF Broker said in a statement Wednesday the merger is aimed to increase its market share and profitability.
At the end of September, SSIF Broker said it took over about 380 clients, with assets worth 54 million lei (EUR12 million), from brokerage firm Avantgarde Finance, which would cease operations.
The bourse’s overall traded value was only 1.12 million lei (EUR0.25 million) at about 10:40 local time (GMT0740), with RON0.27 million secured by SSIF Broker, the top-traded issuer on the main market.
BET index was gaining a mere 0.51%, with Banca Transilvania and SSIF Broker up 1.07% and 6.16%, respectively. Fondul Proprietatea (FP.RO) was down 0.13%.
Composite index BET-C was 0.03% lower, while extended blue-chip index BET-XT was gaining 0.1%.
BET-FI, which tracks Fondul Proprietatea (FP.RO) and the five regional investment funds (SIFs), was falling 0.04%.
Bucharest benchmark index BET-BK was 0.28% higher, while energy stocks tracker BET-NG was trading down 0.12%, with OMV Petrom (SNP.RO) and Transgaz (TGN.RO) losing 0.36% and 0.11%, respectively. (EUR1=RON4.4366)