The Bucharest Stock Exchange BVB Romanian: In , the main index BET went up by Beginnings of the history of the Bucharest Stock Exchange can be traced back to , when the commodities-trade exchanges were established in Bucharest. It was nevertheless only until December 1, that the BVB was officially inaugurated.

One week later, the first exchange rates begun being published in the Official Gazette.

Throughout its existence, the activities of the Bucharest Stock Exchange were affected by the socio-political events of the time, such as the Romanian Uprising of or the Balkan Wars that took place between and The stock exchange was moreover closed during the First World War. When BVB re-opened following the end of the war, it went through a period of 7 years of significant growth, followed by a period of 7 years of accelerated loss. The activity of the Market for Effects, Actions and Exchange was stopped in , with the establishment of the Communist regime in Romania and the beginning of the nationalisation process.

At that time, shares issued by 93 companies and 77 fixed-income instruments bond type were listed on the Bucharest Stock Exchange. The Bucharest Stock Exchange reopened again in , after almost 50 years since it was shut down by the Communist regime. The first trading session was carried out on November 20, On that date, shares issued by 6 listed companies were traded.

In , BVB absorbed RASDAQ — the over-the-counter electronic stock market. On February 14, , Erste Bank listed on BVB and became the first international company listed on the regulated market. Subsequently, Bucharest Stock Exchange has experienced a continuous development and is now established as the main stock exchange in Romania. In , Bucharest Stock Exchange listed on its own spot regulated market under the symbol BVB. In , the Alternative trading system was launched by BVB for SMEs and start-up companies wanting to raise capital from the market.

AeRO was officially relaunched on February 25, during an official opening of the trading session during which two companies debuted - Delivery Solutions symbol: SDAY and Carpathia Capital CRPC. AeRO targets early stage companies, to finance their projects, growth stories, increase their visibility and contribute to the development of the business environment. The Bucharest Stock Exchange is a market and system operator authorized by the Financial Supervisory Authority FSA that manages a Regulated market RM and an Alternative Trading System ATS compatible with European standards.

BVB also operates a market section called RASDAQ. The following types of financial instruments are traded on BVB: BVB operating revenues are generated mainly from trading activity, from membership and listing fees, as well as from data vending to various users. The main market of BVB is a spot regulated market where financial instruments such as shares and rights issued by international and Romanian entities , debt instruments corporate, municipality and government bonds issued by Romanian entities and international corporate bonds, UCITs shares and fund units , structured products and ETFs are traded.

Bucharest Stock Exchange - Wikipedia

In order to be listed on the regulated market, a company has to fulfill a number of requirements prior to its listing on BVB:. AeRO market is the equities segment of the Alternative trading system ATS. AeRO market was designed from the need of providing a financing alternative for entrepreneurs, and is the equity segment of the alternative trading system managed by the Bucharest Stock Exchange BVB. It is a market segment designed for listing of early stage companies, start-ups and SMEs, to finance their projects, growth stories, increase their visibility and contribute to the development of the business environment.

Based on the BVB alternative trading system existing since , the AeRO market, under its redesigned and reconstructed concept, was launched on February 25, RASDAQ market was launched in and it accommodates shares and rights issued by Romanian entities coming from the mass privatization programme.

In , there were more than 5, Romanian companies listed on RASDAQ. On September 30, the Romanian Parliament decided that the RASDAQ market should be dissolved. The market still remains operational however it is no longer possible to list on it. Companies listed on RASDAQ can decide to promote to the regulated or ATS given that they fulfill the necessary admission criteria.

Bucharest Stock Exchange has seven indices:. BET was the first index developed by BVB. It is the reference index for the capital markets. BET follows the evolution of 10 most liquid companies listed on BVB regulated market, excluding financial investment companies SIFs.

It is an index weighted by free float capitalization. Starting with , additional requirements of transparency, quality reporting and communication with investors was imposed. BET-TR is the first total return index launched by BVB. It is based on the structure of market reference index BET. BET-TR reflects the evolution of its component shares and dividend yields offered by them.

Index is composed of 10 most traded companies on BVB, excluding SIFs. Similarly to BET, the main selection criterion for BET-TR is the liquidity of the company.

Starting with , additional requirement of transparency, quality reporting and communication with investors will be imposed. BET-TR is an index weighted by free float capitalization. BET-FI is the first sectoral index launched by BVB. It reflects the evolution of financial investment companies SIFs and of other similar institutions.

BET-XT reflects the price evolution of 25 most liquid companies listed on BVB, including investment firms SIFs. BET-NG is a sectoral index that reflects the evolution of companies listed on BVB regulated market that operate primarily in energy and utilities field.

Number of component shares is variable. Index BET-BK was created as a benchmark for the fund managers and other institutional investors. The calculation methodology reflects on legal requirements as well as limits of the investment funds.

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Number of component shares is equal BET Plus reflects the evolution of Romanian companies listed on BVB regulated market that meet the minimum selection criterion with regards to liquidity and free float. Financial investment companies are excluded from this index. ROTX is an index weighted by free float capitalization, calculated in RON, EUR and USD and disseminated in real time by the Vienna Stock Exchange.

ROTX is a tradable index and can be used as an underlying for derivatives and structured products. The largest companies by market capitalization as of September are: A, Banca Transilvania, Electrica and Transgaz. Since , Bucharest Stock Exchange is listed on its own market, with a symbol BVB.

Bucharest Stock Exchange has a single class of common shares and a capital of 76,, lei divided in 7,, shares with a nominal value of RON 10 per share. All the shares are fully paid. In accordance with the provisions of the Government Emergency Ordinance no. As of November 30, , the Romanian legal entities constituted the largest group of the BVB shareholders In November , European Bank for Reconstruction and Development has acquired 4.

Additionally, the BVB is governed by Constitutive Act of the Commercial Company Bursa de Valori Bucuresti S. BVB supplies its participant with a wide range of tools that provide real time prices and trading data. Some of the most popular products provided by BVB are:. Currently BVB provides real time data to, inter alia: Thomson Reuters , Bloomberg L. Bucharest Stock Exchange is trading daily from Monday to Friday.

The hours differ depending on the market and the instrument type. The Stock does not trade on Saturdays and Sundays as well as Romanian national holiday days , declared by BVB in advance. From Wikipedia, the free encyclopedia. Retrieved 19 March Archived from the original on Retrieved 28 March Sustainable Stock Exchanges Initiative.

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