The Bucharest Stock Exchange extends its auction model and launches new corporate governance rules. By Andreea Albu, Relationship Manager, GSS Romania
The Bucharest Stock Exchange has announced that starting with 12 October it will extend the auction trading model to the AeRO Market, its segment designed for listing of early stage companies, start-ups and SMEs. The trading schemes for continuous trading on the Main Market as well as on the deal market remain unchanged.
The auction model will be applied to a list of shares selected based on criteria defined by the Bucharest Stock Exchange and applies only to the main market of these selected shares. The list of shares included in the auction model was compiled based on a BSE evaluation in the period July – September.
New Corporate Governance Code
In September the Bucharest Stock Exchange launched a new Corporate Governance Code, which aims to promote higher standards of governance and transparency of listed companies.
The new Code, which applies to companies traded on the Main Market, was designed with the support of the European Bank for Reconstruction and Development and will enter into force on 4 January 2016.
The Bucharest Stock Exchange Corporate Governance Code emphasises the investors’ access to information and shareholders’ protection of rights. The new Corporate Governance Code is comprised of 4 sections:
- Responsibilities;
- Risk management and internal control system;
- Fair rewards and motivation;
- Building value through investors’ relations.