The number of brokers operating on the Romanian capital marketfell sharply last year to a total of almost 1,200, down by 309against the previous year, mainly due to the low liquidity on thestock exchange. Whilst for investors with an appetite for risk,2009 has been a year full of opportunities, with shares thatdoubled or even tripled in value, for brokerage firms, 2009 was anextension of the difficult times recorded in 2008 - the year whenthe Stock Exchange collapsed. The 2009 trading volumes, whichamounted to half the 2008 ones, prompted brokerage firms to makesome of their employees redundant. At the end of last year, theNational Securities Commission (CNVM) had 1,197 agents registeredas providing financial investment services (brokers i.e.), comparedwith 1,506 in the previous year, according to data provided by theCommission. "Over the last few years, there has been a naturalselection of professionals working on the capital market. Although2008 was the year of an unprecedented collapse in the price ofshares, 2009 was one of the weakest in terms of liquidity," saidLucian Isac, general manager of Estinvest brokerage. Amid a 2million-euro daily traded volume on the stock exchange, a brokeragecompany earns 300 euros a day on average from trading commissions.Over 2,000 professionals are operating on the capital market,supervised by almost 200 employees of the National SecuritiesCommission.
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