ASF authorized the extension of the mandate of Adrian Tănase, general director of BVB

The Financial Supervisory Authority (ASF) has authorized the extension of the mandate of Adrian Tanase as general director of the Bucharest Stock Exchange (BVB) until December 31, 2024, according to an announcement by the operator of our capital market.

The BVB Council extends the mandate of the current BVB director by one year, at the beginning of October. The goal is to operationalize the Central Counterparty, an entity that will facilitate the relaunch of derivatives in our market and short sales.

"We hope that the derivatives markets will be functional in the first part of next year. We will have futures contracts on shares, on indices, we will have futures products on energy. We also hope to have functional lending and borrowing operations", Adrian Tănase said at the beginning of last month on the occasion of an event organized by the Tradeville brokerage house.

Yesterday, BVB shareholders re-elected Radu Hanga as BVB president for another four-year term. The board will also include: Cristian Pascu, Daniela Secară, Şerban Marin, Loredana Chitu, Remus Vulpescu, Cosmin Pană, Octavian Molnăr and Claudia Ionescu.

For the first nine months of the year, the BVB Group reported a net profit of 21.5 million lei, double that of the same period last year, an increase due to the impact of the listing of Hidroelectrica (H2O). For the third quarter, BVB's consolidated net profit amounted to 18.1 million lei, well above that of the third quarter of last year, of 1.95 million lei.

BVB's shareholders include SIFs, Pillar II pension funds, investment funds, brokerage companies and individuals.