Bucharest Stock Exchange

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Bucharest Stock Exchange
Founded 1995
Headquarters Bucharest, Romania
Key People Chairman Stere Farmache
Website http://www.bvb.ro/

The Bucharest Stock Exchange (BSX), known locally as the Bursa de Valori Bucuresti (BVB), had total market capitalization of around $US22 billion when it began listing its own shares in early June, 2010. BSX includes the over the counter RASDAQ market it acquired in 2005 and the exchange trades the 10-company Bucharest Exchange Trading index (BET) benchmark.


The modern version of the Bucharest Stock Exchange (BSX) began on April 21, 1995 after the original exchange, launched in 1882, was shut down by nationalization under communist rule in 1948.[1] The BSX began trading in November 1995 with just six listed companies but today trades around 165 listed and unlisted securities including 70 listed and 27 unlisted company shares, 34 municipal bonds and 21 government bonds, eight stock index futures contracts and three mutual funds.[2]

In mid-2009 the BSE fell under the global investment spotlight after Franklin Templeton Managing Director and famed emerging market analyst Mark Mobius pronounced Romania's stock market one of the world's most undervalued.[3] Mobius predicted in June 2009 that the Romanian market could easily double or even treble in value over the following three to four years.

The demutualized Bucharest Stock Exchange group saw its quarterly profit almost double between 2009 and 2010, the BSX reported in June.[4] The company, whose shares are listed on the BSX itself, reported a first-quarter profit of 2.47 million Romanian lei for Q1 2010 compared to just 1.23 million lei in 2009, while turnover also doubled to 4.44 million lei.

Key people[edit]

Stere Farmache was re-elected chairman of the BSX in February 2010 for a second two-year term following his initial election in December 2007.

Latest news[edit]

The Bucharest Stock Exchange group (BVB Group) was given official approval in mid-May 2010 by its regulator, Romania's National Securities Commission, to float its own shares on its own exchange after the BVB Group had first approved of the float three months earlier.[5]The BVB Group also holds a majority interest in the Central Depository, Bucharest Clearing House, Investors' Clearing Fund and Institute of Corporate Governance. The BVB group began listing its own shares on the BSX on June 8, 2010