Bucharest SE will implement a new trading program starting October 5, 2015, after a set of prerequisites were fulfilled, using new instruments and meeting clients’ expectations.
The change in the structure of the market for shares, in the sense of gaining more relevance of the main market (Regular) versus the negotiable market (Deal) led BVB to introduce a special stage of the market dedicated only to the Deal market. The weight of the main market was 82% vs. 18% for the negotiated market in the first half of 2015, compared to almost even values in the same period of the last year, meaning that most of the trades were realized directly in the market. The changes of the trading program will allow investors a new 20 minutes window for executing trades on the Deal market only for shares, ETFs and fund units, with the possibility to settle on flexible terms (T+1 or T+2), on gross basis.
The new conditions for a more active trading, that will be effective as of September 21, with the implementation of new tick size rules, in the sense of raising the trading price ranges compared to the current ones, set the premises to shorten the trading day for the shares and fund units traded at BVB.
Last, but not least, BVB envisaged a standardization of the closing time for the main traded instruments, expected by the company’s clients. Starting October 5, the continuous trading will end at the same time for shares, fund units, ETFs, bonds and government market traded on the Regulated market.
“Committed to its actual and future investors, we are constantly looking for tools and measures to improve the market, that should offer opportunities for the investors that are trading every day, or execute intra-day trades, following their strategy to earn money”, stated Ludwik Sobolewski, BVB CEO.
Starting October 5, 2015, the continuous trading for all above mentioned instruments will end at 17:55 for the main market, followed by 5 minutes for the Pre-Closing phase. In addition 10 minutes for the Trading at Last phase will follow and the Deals market will remain open until 18:30 for shares, ETFs and fund units.