BVB and NYSE - 15 simultaneous minutes

The Stock Exchange Council made a request in July for the prolonging by 5 minutes of the BVB's session, with the reason for this proposal being the necessity of overlapping the programme of the local stock exchange with the one of the U.S. markets.

Nevertheless, the representatives of the CNVM have come the conclusion there is need of a longer interval to identify a trend.

'CNVM considered it will be opportune to prolong the programme of BVB's trading session by 15 minutes, so as to avoid trapping the Romanian investors in the extreme volatility in the first minutes on the NYSE,' Victor Stanila, CNVM's spokesperson said, quoted by Ziarul financiar daily.

'The prolonging of the session might indeed result in an increase in liquidities on the market, for the investors would have more time to trade, but I still don't believe the volatility will be significantly influenced, for the 15 minutes represent a too short time for investors to react in a powerful manner,' Ocatvian Dragolea, the manager of the IFB Finwest branch in Bucharest told Ziarul financiar.