English
In the third edition of the "Financing Through The Stock Market" conference, Ludwik Sobolewski, the CEO of the Bucharest Stock Exchange said that the Romanian Stock market is still ineffective. According to him, there are still companies which got listed as a result of specific circumstances or decisions, but they cannot use the market to finance themselves due to some of the market's structural problems.
Sobolewski also says: "Entrepreneurs will not enter the market as long as they do not see liquidity and as long as their chances of raising financing at reasonable costs are slim".
The CEO of the Bucharest Stock Exchange thinks that, once the structural problems of the market are resolved, liquidity and by default the interest of entrepreneurs in the stock market will increase.
Ludwik Sobolewski thinks that the reform of the Romanian stock market is extremely important for getting investors and entrepreneurs to search for and raise financing in the market.
"The programs that we have initiated (ed. note: the BSE) go to the core of the problems. The objective of the efforts of the BSE is to make the Romanian stock market an attractive product for investors", says the CEO of the Bucharest, who thinks that every initiative the stock exchange has had so far has been significant.
At the conference organized by BURSA, he also brought up the measures which will be implemented on November 6th, concerning the separation of the trading and post-trading systems and the settlement of stock trades in two days. Thus, Sobolewski says: "With the implementation of the two regulations, which let's hope will have a positive effect on the trading volumes, we will be comparable not just to the London Stock Exchange, but to any other stock exchange as well".
The CEO of the BSE said that the market should feel no effects resulting from these changes. "If it does, then that means we have a problem".
Ludwik Sobolewski: "We want to increase the level of conversation with the businesspeople, but most of all, we want to focus on the retail segment. Even though we are constantly in talks with foreign investors, we are not forgetting about the domestic ones".
Still, the CEO of the BSE says that natural trading is old-fashioned: "Trading needs an impulse, it needs market makers, which are liquidity providers. No market in the world, not even the most developed ones, relie on natural trading.
Trading must be activated by professionals. That is why we have introduced a new set of rules for market makers. The BSE is proposing that liquidity providers be rewarded, in proportion with their trading activity".
Euro
Dolar SUA
Franc elveţian
Liră sterlină
Gram de aur
