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Romania’s BCR To Play Mkt Mkr For Erste Bank On Bourse

Romania’s largest lender, Banca Comerciala Romana (BCR) will kick off intermediation activities in the transaction system of the Bucharest Stock Exchange, according to a press release issued by the market operator.
Romania’s BCR To Play Mkt Mkr For Erste Bank On Bourse
11 feb. 2008, 19:41, English

The Bourse Council acknowledged BCR, late January, as participant in the capital market’s exchange system, when the National Securities Commission (CNVM) authorized the bank, in May 2007, to unfold operations on the capital market, including transactions with financial instruments in its own account and in the accounts of clients.

The shares of Erste Bank, majority shareholder in BCR, will be floated Thursday, February 14, in the "International" Category of the Bourse, while BCR will be market maker for Erste shares.

The market maker maintains a firm bid and ask price in a given security by standing ready, willing, and able to buy or sell at publicly quoted prices.  The maximum variation between the sale price and the purchase price displayed by the market maker will be 1%.

The market maker institution is a first in Romania and it was created in the purpose of Erste Bank share exchanging in Romania.

Erste Bank has a share capital of EUR632.57 million and 316.28 million shares issued.