Bucharest Stock Exchange (BVB), listed on its own market since 2010, will benefit starting with July 5th from the Issuer's Market Maker services provided by BRK Financial Group (BRK), one of the most active brokers on the stock exchange. BRK is the first market maker for BVB shares. A total number of 11 financial instruments (10 issues of shares and one issue of bonds) benefit from the Issuer's Market Maker service.
‘Bucharest Stock Exchange has always promoted the usefulness of market making services to support the liquidity of the listed shares. Today we reaffirm this option by designating an Issuer Market Maker even for BVB shares. We are confident that this new partnership will bring new trading volumes for BVB shares and will increase our liquidity. We are directly interested in the evolution of BVB shares on the stock exchange, as well as in the increase of the investors' interest in our shares’, said Adrian Tanase, Bucharest Stock Exchange CEO.
The Issuer's Market Maker (IMM) activity will be performed by BRK Financial Group based on a contract signed with Bucharest Stock Exchange. Thus, BRK becomes the Issuer's Market Maker for 9 issues: shares of Bucharest Stock Exchange, Antibiotice, Aages, Impact Developer&Contractor, MedLife, Romcarbon, TeraPlast, Purcari Wineries, as well as for IMP26E bonds.
‘We started the first stock market making operations within the Issuer's Market Making program in August 2019. In less than two years we have already a portfolio of 8 clients for whom we provide this service. By including the BVB shares in our client portfolio, we exceed the threshold of RON 6bn, the cumulative capitalization of our partners for which we ensure the support of liquidity. We have noticed that at the level of each trading session, the shares that have the liquidity provided by a market maker are in the top of liquidity. We hope to see increasing turnovers for BVB shares as soon as possible’, said Monica Ivan, BRK Financial Group CEO.
The specific parameters applicable to the IMM activity provided by BRK Financial Group for BVB shares are available HERE. The IMM is the participant in the BVB’s trading system that has taken on the role of sustaining the liquidity of a financial instrument, based on a contract concluded with the issuer of the respective financial instruments, as well as with BVB. Further information regarding the general framework for the IMM Program can be found HERE.