The Bucharest Stock Exchange (BSE) is set to launch analternative trading system called CAN (Companii si Actiuni Noi -new companies and shares) soon, though which almost any firm canraise cash turning to the mass of investors on the BSE providedthat it should meet transparency criteria, just like companieslisted on the regulated market do. The institution'srepresentatives say the only conditions companies must meet to beaccepted in this system is for them to file an application foradmission on the BSE and sign a contract with the CentralDepositary, draw up a company presentation document respectively,with all these procedures carried out along several weeks. As themarket is not regulated, the company does not need the approval ofthe National Securities Commission (CNVM) for it to float, or anoffering draft, with all admission procedures being muchsimplified. " (...) In principle, since the BSE admissionapplication is filed, it can take even two weeks until effectivelisting," specified Anca Dumitru, general manager of the BucharestStock Exchange.
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