RICHARD VEGH, CEO BUDAPEST STOCK EXCHANGE: "We want to establish regional collaborations in the next five years"

The Budapest Stock Exchange (BSE) wants to establish partnerships with other stock exchanges in the region over the next five years, said its CEO, Richard Vegh.

He said: "We are in a lucky position because we are 31 years old and, after the opening of the stock exchange, a lot of things have happened. We have a very good system, we have many foreign investors, as they account for 55% of the turnover of the Budapest Stock Exchange. We also have local investors (...). We have many issuers from Hungary and had a good evolution in the last five years ".

According to the CEO of the Budapest Stock Exchange, one of the next steps for the development of the Hungarian capital market is the creation of a government-financed fund to invest in the IT and communications companies that want to get listed.

Richard Vegh said: "We have a number of consultants who will assist the transactions and the companies after the initial public offering (...). We are helping Hungarian companies enter the market and we hope that, in the end, we will have more and more companies at least in the entry-level category, as well as in the main markets managed by the Hungarian Stock Exchange".

According to the presentation by Richard Vegh, the number of financial instruments listed on the Budapest Stock Exchange is constantly growing, mainly due to the Central Bank's program that facilitates and supports the issuance of government securities.

Regarding the plans of the Hungarian stock exchange for the next five years, the CEO said mentioned that the goal is to establish regional cooperation.

"We are in the beginning of a new strategic period and we will attract as many members as possible on the Hungarian market, we will seek to develop new services so we can more attractive to issuers (...). We are planning to self-list the exchange, and our goal would be to do that next year. Another important aspect is that we want to establish regional cooperation in the next five years, as well. I believe that together we can create a better environment for investors and market issuers and we see great potential in that for the years to come".