10 Martie 2009

Sibex lines up trading program to NYSE

The board of the stock exchange in the central city of Sibiu (Sibex) aims to extend the trading timetable until 11 p.m. in a bid to hike liquidity and asks for agreement from at least half of the brokers that operate on the market, the head of Sibex, Teodor Ancuta (photo), told NewsIn.

The program will be temporary extended in the period March 23 – June 20 if most brokers agree.

This decision was made after the bourse in Sibiu realized that 43 percent of the volume traded is completed between 9:45 – 11:00 a.m. and 4:00 – 5:15 p.m., but also because most local investors keep an eye on the American bourses.

The bourse is snappier after 3:30 p.m. when data about the core economic indicators from the U.S. are published and especially after 4:30 p.m. when the stock exchange in New York rings the opening bell.

The U.S. stock exchanges have a significant influence over the local capital market so Sibex deems investors should be able to make transactions during the time of session in New York.

The Romanian bourse suggests a trading program in two stages: from 6 to 11 p.m. with a preopening session at 5:30 p.m. and from 9:45 a.m. to 5 p.m.

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