Fees collected in by brokerages from stock transactions carriedout on the Stock Exchange, which have the biggest weight in theirrevenues, dropped last year to around 12m euros, from over 15meuros in 2009, though the value of deals on the Bucharest StockExchange (BSE and RASDAQ) climbed by 10%, to 6.2bn RON (1.45bneuros).
The market decline was primarily prompted by the falling tradingfees, with part of brokerages coming on the market with offers ofvery low fees in a bid to "steal" rivals' clients, and the battlewas mainly fought on the segment of large, institutionalclients.
The head of the brokerage department of one of the biggest bankson the market told ZF that at this level of fees not even thelargest brokerages are profitable any longer.
Razvan Pasol, chairman of Intercapital Invest, one of thebiggest retail brokers, estimates that revenues brokers derivedlast year from stock transactions on the Stock Exchange rangebetween 12 and 14m euros, down 10-15% from 2009, in addition to thearound 1m euros from futures trades on Sibex.
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