Wiener Boerse AG (VSE) and Bucharest Stock Exchange (BSE) have signed a Memorandum of Understanding, promising co-operation in future. The agreement was signed on Friday.
According to Stefan Zapotocky, a member of the VSE board, the agreement forms the basis of a long-term partnership between the two exchanges aiming at building modern and efficient capital markets in both countries.
As a first step the introduction of a new Index for the Romanian market ROTX – Romanian Traded Index) is scheduled for the first quarter of 2005.
This year market capitalisation in Romania has more than doubled to Euros 9 billion. According to the Vienna exchange, Romanian plans to join the European Union will result in changes that will make the Romanian capital market more transparent and attractive.
Vienna is capitalised at Euros 60 billion.