Broker Cluj (BRK), the only brokerage listed on the BucharestStock Exchange has sent a letter to all its shareholders withaccounts opened with other securities firms, offering them a 0.1%fee cut compared with those they are paying now if they becomeclients of the company and a 0.15% cut if they persuade anacquaintance to work with Broker.
Broker Cluj also explains how clients can move their stockportfolio from the company they are working with now to get thetrading fee cut.
"The campaign was done by Broker's manager in Bucharest and itstargets also included doctors, notaries and lawyers. All Brokershareholders got the offer, as did both clients we had and we stillhave," specified Grigore Chiş, general manager of Broker Cluj. Headded the company had more than 20,000 shareholders and the totalnumber of clients stood at several tens of thousands of people,though much fewer of them are active.
The marketing campaign started by Broker Cluj, however, raisesquestions about how the company got the shareholders addresses andwhether or not it may use their addresses registered with theCentral Depository for commercial purposes.
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