Brokers are at loggerheads

Less than a year since the merger between the Stock Exchange (BSE) and the RASDAQ was completed, which led to the creation of a single stock market, disagreements between the brokers on the market could mean that the capital market will once again be divided into two stock markets. The Sibiu Monetary Financial and Commodities Exchange will, at the request of three brokerage companies, call a General Meeting of Shareholders (GM), whose agenda will include setting up of a stock market in Sibiu. Derivative financial instruments – futures contracts and options are currently traded on the Sibiu market. The proposition comes from HTI Valori Mobiliare, Cluj-based SSIF Broker and Swiss Capital, independent brokerage companies, shareholders of the market. HTI is the biggest shareholder of the Sibiu Exchange and controls some 16% of the market shares directly and indirectly. “Our main objective remains the merger with the Bucharest Stock Exchange, but in case the merger is not completed, we want to build a strong stock exchange, able to withstand competition after accession to the European Union,” says Daniel Tepes, president of HTI Valori Mobiliare brokerage company.