The BSE has received the approval to own 5% of the Kishinev Stock Exchange

The Bucharest Stock Exchange will be allowed to own 5% of the newly created Kishinev Stock Exchange, after receiving the approval of the National Commission of the Financial Market (CNPF) in the Republic of Moldova, according to a report sent yesterday by the BSE.

Over time, the "BURSA" newspaper wrote about the intentions of he BSE to get involved in the Moldovan stock market, when former general manager Valentin Ionescu announced that the BSE had 5 million Euros available for buying stakes in other exchanges, as well as at the time when we reported about the acquisition of a 4.99% stake in the Kishinev Stock Exchange.

Valentin Ionescu yesterday told us that when he was still in office, the plan was that the BSE would provide the trading software in exchange for the 5% stake.

In the report sent yesterday, the BSE states that it has been informed by the National Commission of the Financial Market (CNPF) in the Republic of Moldova, that the former "has authorized the Bucharest Stock Exchange to own the substantial stake of the shares issued by the Kishinev Stock Exchange (BVC).

The Kishinev Stock Exchange is the second market operator in the Republic of Moldova and its main line of business is to operate professionally on the market for securities, as well as provide clearing, settlement and consulting services, as ancillary businesses stipulated by the regulations of the CNPF.

The main line of business of the Kishinev Stock Exchange is to ensure the technical, regulatory and supervisory framework necessary for the continued operation of the regulated market for financial instruments, following the principles of legality, transparency and market integrity.

The Kishinev Stock Exchange has obtained the license for professional participation on the security market from the Licensing Authority of the Republic of Moldova on February 24th, 2012".

In May, a delegation comprising officials of the National Commission of the Financial Market in the Republic of Moldova (CNPF) and members of the Commission for Economy, Budget and Finance of the Moldovan Parliament met with the representatives of the Bucharest Stock Exchange.