Bucharest Stock Exchange’s shareholders approved the setup of a Central Counterparty Clearing House for the markets it manages.

The Bucharest Stock Exchange (BVB) plans to invest up to EUR 7 million in this project.

A Central Counterparty is a financial institution that takes on counterparty credit risk between parties to a transaction and provides clearing and settlement services for trades in foreign exchange, securities, options and derivative contracts.

BVB’s shareholders also approved the distribution of dividends worth RON 13.55 million (EUR 2.9 million) from last year’s net profit. The dividend yield is close to 6%, considering the current trading price of the BVB shares.

BVB currently has a market capitalization of some EUR 48.7 million.

Bucharest Stock Exchange index gains 12.4% in first quarter

editor@romania-insider.com