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Vienna Stock Exchange prefers common trading platform with Budapest and Bucharest Stock Exchanges

The launch of a common trading platform for Central and Eastern Europe - Poland, Austria and Romania - would make sense but I'd rather prefer a common trading platform between Vienna, Budapest and Bucharest, says the CEO of the Vienna Stock Exchange, Michael Buhl, in an interview for Saptamana financiara weekly.

The official in Vienna says Poland is not willing to cooperate, since it has refused the support given to it by the Vienna Stock Exchange in the past years. He says the Vienna Stock Exchange is still open to cooperating with Poland, but he thinks there are also other countries and stock markets in the area much more open to cooperation: Bucharest and maybe Ljubljana. He says there is nothing concrete at the moment in this sense. As to his standpoint in terms of the development and position in the area of the Bucharest Stock Exchange (BVB), in the next 2-3 years, the official of the Vienna Stock Exchange considers the Romanian capital market will develop, although the pace depends also on the expected privatizations. He considers in 2008 we will not witness many privatizations, due to the fact in autumn legislative elections are scheduled in Romania, but, in his opinion, very many privatizations are expected in 2009. Michael Buhl says the potential of the Romanian market is very big in the next 4-5 years and says it has confidence it will consolidate. He admits there will be also privatizations through strategic investors but part of them will resort also to the stock market. The Vienna Stock Exchange has voiced the option of taking over BVB and develop it, but the administrators of the Romanian capital market said the foreign stock markets can buy only up to 5% of the BVB shares with voting rights. Buhl believes the existence of caps on the voting rights, not only in the case of stock markets, but also for other companies, is unusual. He says these provisions were eliminated in developed countries and believes they will be soon eliminated in Romania, too. The CEO of the Vienna Stock Exchange says he started to cooperate with BVB in 2005 and achieved a series of things without having to buy shares and the 'events prove this relation is more fruitful from this perspective.' He says the Vienna Stock Exchange is preparing the launch of structural products for international financial institutions, which will be successful. He adds the institution he represents will cooperate also for implementing the system of trading and post-trading and will promote together with BVB these new products at international level. 'The cooperation between the two stock markets entails also the provision of data in real time from BVB to Vienna Stock Exchange. All these bring a plus of visibility and liquidity to the Romanian stock market, but there will be also a positive impact on the Viennese market because thus we prove the importance of the listed country index,' Michael Buhl says. Sursa: http://www.rompress.ro

Tags: stock vienna exchange bvb bucharest market trading common platform

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