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Stock trading suspensions restricted to 15 minutes

The Bucharest Stock Exchange Board (BVB) approved the reduction to 15 minutes of stock trading suspensions ordered whenever important information emerges related to a company's activity.

'Apart from reducing the suspension time to 15 minutes, we also decided to limit suspension cases related to shareholders meetings, so that shares can be held from trades only if a subject that impacts their price is on the agenda. In the case of suspensions related to the Shareholders Meeting, the companies will miss trades also for 15 minutes,' said Stere Farmache, BVB president and director-general. He added that for international companies like Erste Bank, the measures adopted on the reference stock exchange will prevail, so that the company be not suspended on one stock exchange and traded on the other. So far, listed companies could be suspended from trades for one hour, when they sent an important notification to the Stock Exchange. The bourse management also approved the launch of new BVB indices that will for the first time include both SIF shares and those of the most important listed companies. 'The two new indices will be most probably launched on July 1 and as other representative industries gain ground on BVB, we will launch other sectoral indices,' said Farmache. The two new indices - the BET-XT and BET-NG - will have a starting level of 1,000 points and will be calculated retroactively starting with January 1, 2007. The BET-XT (Bucharest Exchange Trading Extended Index) is a blue-chip index that reflects the evolution of the most liquid 25 companies traded on the regular market, the SIFs included; the BET-NG (Bucharest Exchange Trading Energy & Related Utilities Index) will reflect the evolution of energy and utility companies. Sursa: http://www.rompress.ro

Tags: stock companies minutes exchange suspensions trading bet bvb blue sif

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