On January 11, Bucharest Stock Exchange Board of Governors admitted Erste Group Bank as broker on the regulated market of Bucharest Stock Exchange, and Erste started trading on January 15, 2016.
“We are satisfied that the Romanian capital market will since now have a direct outpost in Vienna’s reputable market and we hope that it will also become a new window of the Bucharest Stock Exchange to the world of international investors. We will consequently develop the local environment, as suitable and safe for our global partners,” said Ludwik Sobolewski, CEO of Bucharest Stock Exchange.
Erste Group Bank is acting as classical market maker for the shares issued by Erste Group Bank and Fondul Proprietatea starting with January 18, 2016, thus replacing BCR.
“It is part of Erste Group strategy to support the development of the capital markets in CEE and this is a concrete step we make in this direction. Furthermore, with the direct participation in the BVB trading system, Erste Group can benefit from the fully fledged operation also in the local market making activities,” said Stefan Dörfler, Head of Group Markets of Erste Group.
Erste Group is the leading financial services provider in Eastern EU, with 15.8 million clients and 2,500 branches in seven countries (Austria, Czech Republic, Slovakia, Romania, Hungary, Croatia and Serbia).
There are 40 active brokers on Bucharest Stock Exchange’s main market. Wood & Company, Prague, ranked first last year by traded value, with RON4.54 billion (25.8% market share), followed by Swiss Capital, with RON3.48 billion (19.76% market share). BCR ranked fourth in 2015, with a market share of 5.62% and transactions worth RON990.9 million.