BVB's Anghel: Benefits of stock exchange's promotion to emerging market status to be seen in 3-7 years

Benefits of the promotion of the Bucharest Stock Exchange (BVB) to the emerging market status not to be seen on September 26 2020, when the new indexes calculated depending on the FTSE Russells are coming into force, but in the next 3-7 years, President of the Bucharest Stock Exchange (BVB) Lucian Anghel stated on Friday.

"The benefits won't be seen tomorrow and they won't be seen on September 26 2020, when the new indexes calculated based on the FTSE Russell are coming into force, but within the next 3-5-7 years horizon. And it will depend on us, Romania, how we will capitalize on this international financing platform. This is an improved platform after this promotion and it will depend on us to be able to ensure this financing of an intelligent manner for out country's development," Anghel told a press conference.

He said FTSE Russell is one of the largest rating agencies on the capital market.

Further on, he mentioned that the project took seven years to complete, during which time 500 meetings with large international investors, decision making factors, rating agencies took place.

In his turn, Sergiu Oprescu, the Chairman of the Board of Directors of the Romanian Association of Banks, said that, so far, "Romania followed a national road and now, it took the motorway of European capital flows." He drew attention that it is only up to us on how we are to use this new path and "the speed at which we will drive on it."

Moreover, the Bucharest Stock Exchange (BVB) CEO Adrian Tanase, said that the CEO of FTSE Russell will visit Romania on October 17 2019, to attend an event organised by Citi Bank, together with the EBRD and BVB.