The new management of the Bucharest Stock Exchange, elected last month, has set out to increase the number of active investors on the market by no less than 25 times until the end of its term. The target set by the Bucharest Stock Exchange''s Board for 2010 is 300,000 active investors compared with approximately 12,000 at the moment. In other words, the BSE wants to bring one in 70 Romanians on the stock market compared with one in 18,000 at the moment.
"Of course this is an ambitious goal, but it comes from the desire to match the performance of the markets in the region. For instance, in Poland, a country whose population is twice as large, there were 850,000 active retail investors at the end of 2005," Septimiu Stoica, the new chairman of the Bucharest Stock Exchange stated.
The number of investors has not increased significantly over the past year but has seen quite heavy fluctuations especially because of the trend of banking interests. Early last year, the number of active investors on the market had exceeded 10,000 only to drop below 6,000 in the summer months and exceed 12,000 for the first time at the beginning of this year.
The targets the Bucharest Stock Exchange has set for itself include reaching an average daily traded value of 50 million euros until 2010, compared with 8.7 million euros last year and 14 million euros since the beginning of the year.
The total capitalisation of the market should reach, according to the management of the Bucharest Stock Exchange, 40 billion euros by the end of 2010, from the current 18 billion euros.
The strategic goals of the Bucharest Stock Exchange also include the development of the software and hardware infrastructure, without which it would not be possible to increase the number of active accounts, to create the premises to link the BSE with the technological systems operated by the other European stock exchanges or to promote corporate governance standards.
Targets for 2010
* To attain a number of 300,000 active investors, 25 times more than the about 12,000 at the moment
* To see traded value average 50 million euros a day from the current 14 million euros
* To achieve total market capitalisation of 40 billion euros by the end of 2010 instead of the 18 billion euros at the moment.
vlad.nicolaescu@zf.ro
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