Bucharest Stock Exchange hopes to get emerging market status end-September
FTSE Russell, a provider of stock market indices and associated data services wholly owned by the London Stock Exchange, will announce, on September 26, whether the Bucharest Stock Exchange (BVB) is upgraded to emerging market status or not.
It is the first time when BVB has chances to be upgraded, said Adrian Tănase, general manager of Bucharest Stock Exchange on Friday, September 13.
“All I can tell you is that this is the first time we have the chance to be promoted. We fulfill all the conditions imposed by them, the quantitative conditions and the qualitative conditions. It does not mean that we will automatically be upgraded. It means that we will be considered by the index committee of the FTSE for a promotion. For them, the feedback from their clients, from the investment funds that follow them, is very important,” said Tănase at the Capital Market Forum organized by Financial Intelligence.
In September 2018, FTSE Russell upgraded Poland to the status of developed market. Poland thus became the first country in Central and Eastern Europe included in the group of developed states and the first in the world to obtain such promotion within less than a decade after getting the emerging market status.
Romania getting emerging market status would bring it to the attention of emerging markets funds, with the result of more money pouring into Romanian listed companies.