The brokerage firm of Siminel Andrei makes a profit of almost 160,000 lei

Brokerage firm "Tradeville", led by Siminel Andrei, turned out a profit of 158,000 lei, in the first quarter of the year, as its turnover increased to 2.86 million lei, according to a press release of the company. For comparison purposes, in H1 2009, the company posted a profit slightly above 100,000 lei, for a turnover of 2.78 million lei.

"The main factor that supported our business increase was our commission policy, as we calculated them using the criteria which were the most favorable for our clients: turnover or portfolio, and most importantly, by cumulating the trades made on the BSE and on Sibex in order to determine the size of the commission for each of these markets. During the aforementioned period, the number of active accounts increased 12%, from 7,002, to 7,824", the representatives of the company explained yesterday.

In the beginning of the year, two brokerage firms fully owned by "Tradeville" began their operations in Bulgaria and Serbia, offering brokerage services for the capital markets of the two countries. Company officials said that "Tradeville" invested several hundred thousand Euros into expanding on the Balkan markets, without providing an exact figure.

Mihale Bîciu, the general manager of the brokerage firm, said two days ago that Tradeville will notify the Romanian National Securities Commission (CNVM) of its plans to allow Serbian and Hungarian investors the possibility of trading on the Bucharest Stock Exchange and on the Sibiu Exchange.

At the same time, the company began its plan to expand domestically, by opening a branch in Cluj.