Czechs at Wood come to Bucharest

Czech investment bank Wood & Company, is the first authorised brokerage company from a EU country to ask the Stock Exchange to allow it to access the trading system in order to broker transactions on the Romanian market, sources on the capital market say. Wood is the biggest brokerage firm in the Czech Republic with an approximately 25% market share, leaving Western-European banking groups far behind. Representatives of the Stock Exchange specified that they had received the necessary documentation to allow the trading of a brokerage company to begin, but they would not reveal the firm’s identity. “None of the foreign investment firms, which received the Certification from the CNVM (The National Securities Commission) and are also listed in the CNVM’s Public Registry, have so far paid the participant tax, which amounts to 200,000 RON,” specified Rodica Morariu, head of the participants department at the Stock Exchange.