Valentin Ionescu: BSE traded value doubling, achievable in the future

The general manager of the Bucharest Stock Exchange (BSE), Valentin Ionescu, is trying to drive the market operator back to operating profit by cutting costs after the recent months' plummeting deals have deeply cut into its revenues. Things may get better next year, when FP floatation is likely to double market activity.

The beginning of his term was not easy at all for the new general manager of the BSE, who just several months after taking over the position had to take unpopular steps, such as layoffs and salary cuts to steady the company's financial situation.
The plunging value of deals sealed on the stock market has over recent months brought the BSE operating losses, after figures had topped expectations in the first year-half. Under the circumstances, the BSE management decided to slash costs to offset the declining revenues.
Over the past three months, the traded value on the stock market has nosedived, at half the level of a year ago.
Things may improve for everybody starting next year, after FP listing, scheduled for late January.
"Next year, we're counting on a higher traded value. Doubling the traded value is achievable from the average of this year, after FP listing", Ionescu also said.