AmCham: Romanian capital market, one step closer to its upgrade to emerging market status
AmCham welcomes FTSE and its recent announcement to place Romania on the FTSE Watch List in view of upgrading its classification from frontier market to emerging market, according to the FTSE (Global Equity Index Leader) Annual Country Classification Report released in September. 2016-09-30 15:28:35
Upgrading the local market to the emerging market status has been a strategic objective for Romania which enjoyed a broad support from the business community. The FTSE decision is a positive signal to investors, confirming the progress made by the Romanian capital market both in terms of infrastructure and regulative framework.
"We would like to take this occasion to thank AmCham members for their contribution to elaborating and promoting recommendations aimed at developing the Romanian capital market. Its potential confirmed by the inclusion on the FTSE Watch List that creates the necessary premises for attracting significant investments in Romania. In the upcoming period, efforts to continue the capital market reform need to be increased in order to ensure a sustainable growth of the market. Under the pressure of highly complex global changes, a constructive dialogue between the business community, regulative and supervising authorities, other relevant decision makers, is critical for gaining the emerging market status as early as possible" declared Cristian Agalopol, chairman of the AmCham Romania Capital Markets Committee.
Through its Capital Markets Committee, AmCham Romania in collaboration with other business associations has advocated for recommendations to increase the efficiency and attractiveness of the Romanian capital market by way of removing administrative barriers or adopting measures to attract non-resident institutional investors, all of these critical for transforming the equity market into a viable and attractive financing alternative for public and private investors.
FTSE performs an annual review of the countries' classification in the four categories – developed markets, advanced emerging, secondary emerging and frontier, by analysing 21 criteria that are related to the regulative framework, custody and settlement, dealing landscape, derivatives. The monitoring period that begins for Romania today lasts for one year, so that any change of Romania's status is to be announced on the occasion of the FTSE interim report released in March, while final upgrade decisions will be communicated in the Annual Country Classification Report in September.
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