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FTSE Russell keeps Romania on watch list for potential reclassification

bvb

Romania has been kept by FTSE Russell on the watch list of countries for possible reclassification from Frontier to Secondary Emerging market, the Bucharest Stock Exchange (BVB) reported on Thursday 

According to BVB, market liquidity in Romania is said to be sufficiently broad to support sizeable global investment, with an upgrade from Not Met to Restricted, following an uptick in broad market liquidity. 

FTSE Russell released on September 26, 2018 its latest Annual Country Classification Review, according to which Romania was maintained on the watch list of countries for possible reclassification from Frontier to Secondary Emerging market. Romania was added to this watch list in September 2016. 

"The upgrade by a notch of the Bucharest exchange's liquidity criteria is an international recognition of the progress Romania made in the last 4 years for improving liquidity. Now, Romanian capital market is only one step away from becoming emerging market," said Lucian Anghel, chairman of the BVB Board of Directors. 

This rating has moved up one increment at this review and will next be considered at the March 2019 interim review. 

"All the capital market reform and the projects which Bucharest Stock Exchange has run for few years now, dedicated to improving the investment climate, the offer and the demand, have been fundamental for the increase in liquidity. We also believe that the OTC liberalization which became effective in September 2018 will support even more the trading values on the stock exchange," said Adrian Tanase, BVB CEO. 

BVB is the manager of trade in shares, bonds and other financial instruments on regulated platforms or alternative trading systems and also a provider of a wide range of services to financial market participants. The Bucharest Stock Exchange has been a listed company on its own market since 2010.

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