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Austrian companies operating in Romania attract brokers to Vienna

Some of the leaders of important economic sectors in Romania are listed with Vienna Stock Exchange, such as OMV, the majority shareholder of Petrom (the largest Romanian company), Erste Bank, holder of the largest Romanian bank - the Romanian Commercial Bank (BCR) or Vienna Insurance Group (VIG), leader on the insurance market in Romania.

As well, Raiffeisen International is also listed in Vienna, the majority shareholder of Raiffeisen Bank, together with Immoeast investment fund, the largest real estate investor on the domestic market, with a portfolio of 125 properties in the value of more than 3.3 billion euros and steel producer Voestalpine, which could invest 7 billion euros in the construction of a steel combine in Constanta (south-east). As well, BT Securities is the first domestic brokerage company accepted as a member of a foreign bourse, after the mediating company asked Vienna Stock Exchange to accept it to directly trade on the Austrian market. At present, just a few domestic brokerages offer investors the opportunity to trade shares listed in Vienna, but they operate indirectly, through some member companies. Joint CEO of Vienna Stock Exchange Michael Buhl was quoted as saying by Ziarul financiar daily that, in the upcoming period, some other brokerage companies in Romania might be accepted to trade directly on the Austrian market. Buhl thinks that BT Securities has got a good momentum for its entrance on Vienna Bourse and that, under these conditions, there are big chances that the Romanian mediating company will have a good start and a steady evolution. 'The decision to trade on Vienna Bourse was generated by the fact that some of the biggest issuers there, such as OMV, Erste Bank and Wienerberger, run activities in Romania. Moreover, our intention is to offer a larger range of structured products', pointed out BT Securities director general Rares Nilas. Vienna Bourse notified recently to the National Securities Commission (CNVM) in Romania that it plans to offer the Romanian mediating companies the opportunity to directly trade on this market. The Romanian capital market has been in the past months one of the most affected by the subprime crisis at international level. In the past weeks, Bucharest Stock Exchange (BVB) recorded a slight recovery, following the steep decline since this year-start, but BET Index of the most important ten companies on the market is still minus 20 percent compared to the level at the end of 2007. BT Securities is one of the top five brokerage companies on BVB, with transactions of 106 million euros in the first four months of the year. Sursa: http://www.rompress.ro

Tags: vienna market securities trade austrian romanian companies romania bet bcr bvb

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