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Septimiu Stoica: Romanian stock exchanges need multilateral trading facilities

Ex-President of the Bucharest Stock Exchange Septimiu Stoica thinks Romanian stock exchanges should adopt multilateral trading facilities (MTF) to stimulate the capital market by charging lower rates and attracting more companies into the stock exchange system.

‘The MTF is a first step towards the capital market, because companies that have joined such trading system will grow every year and, if they are still interested in the capital market, they will be able to move to the stock exchange', Septimiu Stoica stated at a press conference yesterday, according to Mediafax. He pointed out that the alternative trading systems have three purposes: compete with the stock exchanges by charging lower fees and commissions, attract new companies to trading and create multinational trading platforms bringing together the best companies of a larger number of countries.

‘The people in Sibiu have already announced their intention to create a MTF, but they didn't say what kind of system. I am inclined to think they plan to follow the example of the Warsaw stock exchange, but I cannot be certain', Stoica said. Regarding the reasons behind the bigger loss registered by the Bucharest Stock Exchange compared to other in Europe, Stoica said the very good results and 100 per cent growth in the previous years, the high dependence on foreign investors, as well as the political and psychological; factors had led to such a result. He thinks the stock exchange will recover and that we should be prepared for performance in the new, post-crisis context.

 

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Tags: stock trading exchange exchanges septimiu stoica

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