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BVB cuts commissions by 60 pct in some futures contracts

The Bucharest Stock Exchange (BVB) is to cut by 60 percent its commissions in the case of certain futures contracts, following the mid-year re-categorizing of the respective tariffs, BVB informs.

Thus, the tariff in the case of the BET-FI index derivatives and the Transelectrica BET-FI Index Futures shares and Tel Futures tariffs will be of 0.05 lei per contract (as against the previous tariff of 0.15 lei), with the derivatives on the BET-BET Index Futures to stay at 0.15 lei per contract (as against the previous tariff of 0.35 lei). 'The flexibility in establishing the tariffs by the BVB depending on the value of the support assets of the futures contract, is meant to stimulate the trading activity of the futures contracts listed on the BVB. This flexibility in establishing the tariffs is meant to speed up the trading on the Derivatives Market,' Stere Farmache, chairman and general manager with BVB said. Currently, there are 10 futures contracts on shares traded on the BVB, two on indexes and two on hard currency, with 39 financial companies and five discounting banks being active on the market. The derivatives market on the BVB was launched on September 14, 2007, with September 28 being the first trading day, with contracts with deadlines on the BET-FI and SIFs indexes. In 2007, the number of the agreements concluded on the BMFMS stood at approx. 3.4 million, with their value reaching more than 3.4 billion euros, while the value of the trades on the BVB with derivatives over September 2007 (the launch) - May 2008 totaled 5.3 million lei. Sursa: http://www.rompress.ro

Tags: bvb futures derivatives contracts bet

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