Brokers decide for temporary truce

The feud between the supporters of the Bucharest Stock Exchange (BSE) – RASDAQ merger and those favouring a RASDAQ takeover by the BSE has turned into a temporary truce on Saturday, during the General Meeting of the securities firms. The solution they found was to have people vote for one of the options during the joint meetings of the BSE Association and of RASDAQ SA’s shareholders in about six weeks. Meanwhile, the two organisations will commission a feasibility study to assess which of the two options will be faster and more efficient for the capital market. Initially called only to elect the new Board of the National Securities Association (ANSVM) and RASDAQ, the main topic of the brokerage companies meeting was finding a solution to end the conflict between the BSE management (headed by Sergiu Oprescu) and that of RASDAQ (with Cristian Siminel Andrei at the helm) that broke out two weeks ago. The BSE management stated its intent to see the BSE Association, which operates the BSE system take over RASDAQ SA, the company that operates the RASDAQ system. The proposition, which was contrary to the initial merger plans, triggered adamant protests from Cristian Siminel Andrei, ANSVM and RASDAQ chairman. ZF