Bucharest Stock Exchange

Bucharest Stock Exchange
Bursa de Valori Bucureşti
Type	Stock Exchange
Location	Bucharest, Romania
Founded	1 December 1882 (closed in 1945 by the communists re-opened in 21 April 1995)
Owner	Listed company from June, 2010 on its own regulated market
Key people	Ludwik Sobolewski (CEO), Lucian-Claudiu Anghel (Chairman of the Board of Directors), Pompei Lupsan (vice chairman), Dan-Viorel Paul (vice charmain)
Currency	RON
MarketCap	€25 billion (2013)
Indexes	BET BET-C BET-FI ROTXBET-BK BET-NG BET-XT
Website	www.bvb.ro

The Bucharest Stock Exchange (Romanian: Bursa de Valori Bucureşti) is the stock exchange from Bucharest, Romania. BVB operates a spot regulated market, a derivatives market, a market section called RASDAQ, and also an alternative trading system. Trading is made at BVB through the e-trading system called Arena. At BVB there are traded the following types of financial instruments: shares • rights • bonds • fund units• structured products • futures contracts. The total capitalization market of the Bucharest Stock Exchange is around €25 billion (September 2013). Bucharest Stock Exchange is trading daily from Monday to Friday. The trading hours are available at: http://www.bvb.ro/Marketplace/TradingCalendar/index.aspx At the end of 2013, over 80 companies were listed on the regulated market administrated by BVB.

History

On December 1, 1882 the official opening of the Bucharest Stock Exchange takes place. Over the years, the stock exchange was impacted by the social-political changes. The BVB activity was interrupted in 1941, and it has remained closed for 5 decades. In 1995 the stock exchange is re-established, and the first transaction took place on November 20, 1995. Since then, it has continuously been developing. In 2005 BVB and the over-the counter electronic stock market RASDAQ merged by absorption, RASDAQ being absorbed. In February 14, 2008, Erste Bank listed on BVB and became the first international company listed on BVB. In 2010, Bucharest Stock Exchange listed on its own spot regulated market. In 2011 Fondului Proprietatea listed on BVB and there are developed the trading techniques by introducing short selling and expanding the usage of the global accounts for the shares issued by Romanian companies. 2011- 2012 marks the trading start for shares issued by Romanian companies on the alternative trading system administrated by BVB. 2013 SN Nuclearelectrica IPO takes place, as part of the privatization program announced by the Romanian Government. This has been the first IPO on the BVB regulated market for the last 6 years.

Indices

Bucharest Stock Exchange has six indices:

• BET, which was created first, reflects the evolution of the most liquid 10 stocks (except Investment Funds); it is the most followed index of the exchange
• BET-C (BET Composite) reflects the evolution of all listed stocks (except Investment Funds)
• BET-FI reflects the evolution of the five large Investment Funds created in the Mass Privatisation Program
• ROTX (Romanian Traded Index) reflects the evolution of the most liquid blue chips
• BET-XT (BUCHAREST EXCHANGE TRADING EXTENDED INDEX) reflect the evolution of the most liquid 25 stocks, including the 5 Investment Funds created in the Mass Privatisation Program.
• BET-NG (BUCHAREST EXCHANGE TRADING ENERGY & RELATED UTILITIES INDEX) energetic sector index on Bucharest Stock Exchange

Structure of indices

• BET (Bucharest Exchange Trading)

Company	Field of activity	Symbol	Percentage in index (%)
Banca Transilvania S.A.	banking	TLV	20,73
OMV Petrom S.A.	oil	SNP	20,27
SC Fondul Proprietatea SA - București	mutual funds	FP	19,89
BRD - Groupe Societe Generale S.A	banking	BRD	19,22
S.N.T.G.N. Transgaz S.A.	natural gas	TGN	8,61
C.N.T.E.E. Transelectrica	electricity	TEL	3,90
Biofarm S.A.	pharmaceutical	BIO	3,65
SC Bursa de Valori București SA	stock exchange	BVB	1,90
Electromagnetica S.A. București	manufacture of instruments and appliances for measuring, testing and navigation	ELMA	1,24
S.S.I.F. Broker S.A.	insurance and financial services	BRK	0,57
Index capitalisation: 8.170.087.857,24 RON

Updated September 18, 2013

• BET-FI

Company	Field of activity	Symbol	Percentage in index (%)
1	SC Fondul Proprietatea SA	mutual funds	FP	29,78
2	SIF Oltenia S.A.	other financial	SIF5	18,00
3	SIF Moldova S.A.	other financial	SIF2	13,95
4	SIF Banat Crișana S.A.	other financial	SIF1	13,56
5	SIF Transilvania S.A.	other financial	SIF3	12,72
6	SIF Muntenia S.A.	other financial	SIF4	12,00

Updated September 18, 2013

Top of intermediaries in Derivatives Market, in 2010

No.	Intermediary	No. Contracts	Traded Value
1	Tradeville SA	1.453	2.262.694,40
2	Interfinbrok Corporation SA	1.646	1.744.384,80
3	Intercapital Invest SA	749	756.962,60
4	SSIF Broker SA	1.222	686.943,60
5	SSIF Vienna Investment Trust	200	315.770
6	Confident Invest SA	207	124.271,50
9	Estinvest SA	63	73.305,10
10	IFB Finwest	50	9.774

Updated September 18, 2013

Companies

Top 5 Companies BVB - by volume

No.	Symbol	Price	Volume
1	BCC	0.0676	2,817,000
2	FP	0.7165	1,560,000
3	SNP	0.4375	918,000
4	SIF3	0.6120	207,000
5	TBM	0.0322	122,500

Top 5 Companies BVB - by value

No.	Symbol	Price	Volume
1	FP	0.7165	1,560,000
2	SNP	0.4375	918,000
3	BCC	0.0676	2,817,000
4	SIF3	0.6120	207,000
5	BVB	24.0000	108,456.00

Updated September 18, 2013

Largest stocks by market value

Source:http://www.bvb.ro/, in millions of RON between 10 Feb 2012 - 8 March 2012

1. Fondul Proprietatea - RON 366.203
2. SIF 3 Transylvania - RON 83.583
3. SIF 5 Oltenia - RON 78.082
4. BRD-Societe Generale - RON 68.538
5. SIF 1 Banat-Crisana - RON 56.728
6. SIF 2 Moldova - RON 53.756
7. Petrom - RON 43.625
8. SIF 4 Muntenia - RON 24.083
9. Erste Bank - RON 14.366
10. Banca Transilvania - RON 10.535

See also

• Economy of Romania

References

• Anghelache, Gabriela, "Bursa şi piaţa extrabursieră", Editura Economică, 2000
• BSE Annual Reports

External links

• Bucharest Stock Exchange