Hungary’s Equilor enters Prague bourse
2011-08-01 14:50:33
As a further step in its regional expansion policy, Hungary’s Equilor Investment has become the first “purely foreign” remote member of the Prague Stock Exchange (BCPP) following its joining the Warsaw Stock Exchange (WSE) in the spring, the Budapest Business Journal reported on Thursday.
“Our intention is to bring new liquidity to the Czech capital market by providing direct and flexible access to PSE for our clients,” Equilor chairman András Gereben said in a press release. “We are particularly proud that Equilor is the first remote member of Prague Stock Exchange. Our international expansion will not stop here; we are looking for possibilities to become present at other markets of the region as well.”
Equilor has been searching for those international cash and capital markets in the recent months where its direct presence can further strengthen its position among independent investment service providers, said the company, which has the 6th largest cash equity turnover on the Budapest boursee, the weekly said.
As of July 1, Equilor also became a participant in the Prague bourse’s Central Securities Depository, a prerequisite for the successful launch of trading on the BCPP.
“New foreign members can join our exchange thanks mainly to the fact that we have been able to successfully initiate the Central Depository,” said the exchange’s CEO, Petr Koblic, in a statement on the BCPP website. “During the existence of the Securities Center, it was virtually impossible for foreign entities to enter our stock market. The entire process of technical preparations and actual admission to the exchange has become a standard procedure.” ‘Expanding the number of members and encouraging the greater interconnection of exchanges within our region is one way to tackle falling trading volumes.’
The BCPP has 19 members trading in stocks, bonds, investment certificates, warrants and futures on three stock markets. The average daily stock market trading volume in 2011 is K? 1.5 billion. Koblic said he was very pleased that the BCPP’s membership is expanding, especially as this concerns a company from our region with a long and successful tradition.
“Expanding the number of members and encouraging the greater interconnection of exchanges within our region is one way to tackle falling trading volumes resulting mainly from the growing number of non-transparent OTC transactions,” he said.
Equilor is a full-right member of the Budapest, Warsaw and now Prague stock exchanges. The Budapest bourse gave it the “Team of the Year” award in 2010.