Banks' brokerage firms take the spotlight

Two brokerage firms are on the top two positions in terms of transactions concluded in January. Cluj-based SIVM Broker and BRD Securities, the brokerage company of Banca Romana pentru Dezvoltare (Romanian Development Bank – BRD) conducted approximately $3.8 million’s worth in transactions on the Stock Exchange each. Two deals with Banca Transilvania shares made a significant contribution to the traded value registered by the two firms. The bank’s shares totalled 36bn ROL in a single day last month. Two thirds of the total shares changed hands by only two deals that day. Brokers were saying back then that a foreign investor had allegedly bought from one or more Romanian investors. Even if they had not concluded those transactions, the two banks would still have gained the top two spots. BRD Securities’ second place shows the company is still following the upward trend it started in mid last year. The company targets institutional clients and, as management says, it has succeeded in regaining part of the clients of the former SociA©tA© GA©nA©rale Securities, held by the French bank that bought the controlling interests in BRD. ZF