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BURSA E PENTRU OAMENI and for this Bucharest Stock Exchange (BVB) introduced a new facility for retail investors, in order to provide them with better conditions of the market and to stimulate them to trade. Thus, BVB launched on July 6, 2015 a new feature through which the Main Market in share can become more actively through the day trading, leading to a better functioning mechanism of the price discovery.
The brokers that engaged to be Market Makers, to bring their contribution and to build the liquidity of the market through the new program are Banca Comerciala Romana, IFB Finwest, Raiffeisen Centrobank and Wood & Company Financial Services.
“By developing the Market Makers program and adding the day-trading facility, the Bucharest Stock Exchange management continues its efforts towards the development of the Romanian capital market. IFB Finwest welcomes the new measures to stimulate trading activity and remains the same active partner as in the previous 20 years”, stated IFB Finwest representatives.
“Raiffeisen Centrobank will actively take part in this trading program as strong Market Maker, because it is the core of our strategy to support the development of CEE-markets and to secure the availability of liquidity. We are one of the leading trading house in this region and we see great potential for the markets in the long term", affirmed Raiffeisen Centrobank representatives.
“Wood & Company really appreciates the effort to enhance a liquidity on BVB that has been becoming one of our core markets. From our point of view the updated MM program should represent a positive change for all the participants. On one hand investors can benefit from greater liquidity, on the other hand registered Market Makers can benefit from more flexible quoting obligations. After few months we will be able to evaluate whether the set parameters are appropriate, nevertheless, we tend to believe that the concept overall is right”, stated Wood & Company representatives.
The program introduced by BVB brings also a new approach regarding the Market Makers, so a broker can choose whether it will be a Classic Market Maker, or a Super Market Maker for a certain share. The Super Market Maker will place trading orders (buy/sell) for a bigger volume of shares and for a more extended period of time than the ones placed by the Classical Market Maker, and it will pay half of the trading fees applied to the Classic Market Maker. The liquid shares of BET-XT index, as well as Erste Bank (EBS) and Ropharma (RPH) shares are the ones for which a broker can act as Market Maker, but if requested, BVB can include on the list other shares from BETPlus index.
