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Broker Cluj keeps topping market of derivative financial instruments

Financial Investments Services Company (SSIF) Broker of Cluj Napoca (central western Romania), the biggest brokerage house in Romania, and not affiliated to any bank, tops the brokerage companies on the derivative financial instruments market of the Sibiu-based Monetary-Financial and Commodities Exchange (BMFMS) over the first six months of the current year.

Broker Cluj is set up and has developed as a company of national importance. It numbers 43 subsidiaries in 20 counties. In the first half of the year the Company earned about 28 billion lei in profit, and after six months of continuous drops in the Stock Exchange, Broker Cluj is not in a difficult situation in terms of the ratio between revenues and expenditure, SSIF Broker Cluj president Petru Prunea said. At present, the Cluj-based Company is negotiating with other Romanian SSIFs willing to merge with it. 'We keep expanding either through merger or setting up our own subsidiaries. We also do this in order to be closer to the issuers and know better the problems they are facing and ensure the clients an easier access to the capital market,' said Prunea, stressing that SSIF Cluj is at the stage when it accesses European stock exchanges through the ceiling offered by Saxon Bank of Copenhagen. The Cluj-based Company is the single in Romania that Romania's National Bank (BNR) authorized to operate on the rate exchange market. On the other hand, Broker Cluj does not claim a minimum investment ceiling, like banks do. SSIF Broker Cluj's activity happens on two markets, namely the primary consisting in consultancy offered to the commercial companies to achieve the desirable investment policy, and the secondary one, dealing with the transactions on the stock exchange market and the derivative investment market BMFMS of Sibiu. Sursa: http://www.actmedia.ro

Tags: broker company financial derivative market bnr

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