December 2 was the first trading day at Bucharest Stock Exchange (BVB) without the odd lot market segment. Thus, investors could place orders, of the volumes they want, only in the Regular market, segment on which the consolidation of the trading data could be noticed from the statistics of the very first day of this new market model.
Compared to the trading session of November 28, the last day when the odd lot market was available, on December 2 were introduced and changed in average 9% more orders. In terms of number of symbols for which orders were placed, the average increase is of 25%. Based on the above placed orders, the number of trades concluded was 7% higher, and on 98% more instruments.
The removal of the odd lot market was possible due to other technical changes of the market environment, like the adoption of the block size of 1 instrument for whole regular market and the calculation and representation of the trade value with 4 decimals. All these efforts made by the market operator, the participants and the supervision authority were for improving the trading mechanisms and the capital market infrastructure. This is a step towards the local capital market reform and the reach of the emerging market classification.
Bucharest Stock Exchange runs markets for shares, bonds and other instruments, through regulated platforms and alternative systems, and provides a wide range of services to participants of financial markets. Bucharest Stock Exchange is a public company, listed on its own market since 2010. For more information refer to www.bvb.ro.