Stere Farmache, chairman of BSE said short-selling by investors would be introduced at the Bucharest Stock Exchange but only for liquid stocks in a first stage, once Romanian National Securities Commission passes amendments brought to the Central Depository’s Code, on securities lending.
He added he was confident on the introduction of short sales at BSE, as the authorization of these trading practices by two institutions (NBR and Central Depository) exerts a certain pressure on the capital-market watchdog.
National Bank of Romania has passed amendments brought to Central Depository’s code in securities lending. The last stage in implementing the new instruments is the approval by Romanian National Securities Commission, said Adriana Tanasoiu, managing director of the Depository.
Short selling is the practice of selling a financial instrument that the seller does not own at the time of sale, and which are usually borrowed from a broker or another investor.
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