MARKET INFORMATION
Bucharest Stock Exchange (BVB RO)
http://www.bvb.ro/

Trading Hours

Pre-opening session

09:45 – 10:00

Continuous Trade

10:00 – 17:45

Closing auction

17:45 – 17:50

 

Trade at Last

17:50 - 18:00

Time Zone

UK+2 Eastern European

Standard Time

Trading Days

Monday – Friday

Trading Currency

Romanian Leu (RON)

Main Index

Index name 

BET

Reuters code

.BETI

Bloomberg code

BET Index

Exchange Code

Reuters

BX, RQ

Bloomberg

RE, RO

Trading ID/ Trading

Requirement

full settlement instructions

Settlement Cycle

T+2

Current Index Status

MSCI FM - FTSE FM

Market Cap

$65.5bn
Average Daily Value Traded

 

YearAVG VALUE TRADED

2021

$ 10.5m

2022

$ 11.04mn

2023

$ 21.3mn
MARKET DYNAMICS
Stock Limit
Up/Down
+/-15%
from previous day’s close For certain stocks, prices may fluctuate up to +/-25% then +/- 30% then +/-40%.

Tick
Size
List of tick size per ticket available on BSE web page
Board
Lot
1 share
Official
Closing Price
Last traded price
Crosses
Crossing can be done in market spread during the regular trading hours.
Off- Market
Crosses
Allowed subject to a minimum size ranging from EUR60k to EUR1m depending on the stock. Full list of stocks and the minimum required on request.
MARKET REGULATIONS
Foreign Ownership Restriction
Foreign investors may own up to 100% of all listed stocks with the exception of BVB RO where there is a 20% threshold.
Disclosure Rules
At 5% ownership, a public disclosure is required. Thereafter investors have to report reaching/going below the following thresholds: 10%, 15%, 20%, 25%, 33%, 50%, 75%.

33% is also a threshold for a takeover tender.
Securities Lending
Permitted by FSA rules.
Short selling
Permitted by the local Financial Securities Authority, but not conducted yet
MARKET FEES & TAXES
Market Fees
For regular market 10.35 bps on the buy and sell
For block market 11.35bps on buys 
12.55bps on sells
VAT Applicable on both market fees and broker commissions.
Currently levy 5%
Withholding Tax  None
Capital Gain Tax
1% or 3% for local investors – depending on the holding period
Foreign investors are Subject to Double Taxation Treaty
Dividend Tax 8%