The general manager of the Bucharest Stock Exchange (BSE),Valentin Ionescu, is trying to drive the market operator back tooperating profit by cutting costs after the recent months'plummeting deals have deeply cut into its revenues. Things may getbetter next year, when FP floatation is likely to double marketactivity.
The beginning of his term was not easy at all for the newgeneral manager of the BSE, who just several months after takingover the position had to take unpopular steps, such as layoffs andsalary cuts to steady the company's financial situation.
The plunging value of deals sealed on the stock market has overrecent months brought the BSE operating losses, after figures hadtopped expectations in the first year-half. Under thecircumstances, the BSE management decided to slash costs to offsetthe declining revenues.
Over the past three months, the traded value on the stock markethas nosedived, at half the level of a year ago.
Things may improve for everybody starting next year, after FPlisting, scheduled for late January.
"Next year, we're counting on a higher traded value. Doubling thetraded value is achievable from the average of this year, after FPlisting", Ionescu also said.
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