Bucharest Stock Exchange / Bursa de Valori Bucuresti (BVB)’s Post

🔔 Important Announcement from SEBI! 🔔 📢 Urgent Update: SEBI Unveils Crucial Market Reforms to Drive Growth and Compliance! 📢 In a landmark decision, SEBI has unleashed a series of pivotal reforms aimed at reshaping the landscape of the securities market. Brace yourselves for the game-changing updates: 1️⃣ **Enhanced Investor Accessibility**: SEBI's green light on relaxations for foreign portfolio investors (FPIs) and alternative investment funds (AIFs) signals a significant leap forward in fostering global investment flows and unlocking new growth avenues. 2️⃣ **Combatting Market Volatility**: With a standardized approach for verifying market rumors, SEBI aims to instill confidence and stability in the market environment, safeguarding investor interests against undue fluctuations. 3️⃣ **Revolutionizing Settlement Mechanisms**: Prepare for a paradigm shift with the imminent Beta launch of the optional T+0 settlement mechanism, set to redefine trading dynamics and enhance market efficiency. But the magnitude of these reforms extends beyond mere policy adjustments. SEBI's unwavering commitment to stakeholder engagement underscores its dedication to crafting solutions that resonate with the needs of market participants. From tailored due diligence protocols for AIFs to simplified disclosure norms, SEBI's emphasis on compliance and business facilitation remains unwavering. By eliminating outdated requirements and introducing innovative criteria, SEBI sets the stage for a more agile and investor-friendly market ecosystem. As the regulatory landscape evolves, listed companies can anticipate smoother compliance journeys, thanks to revised market capitalization-based requirements and extended timelines for key managerial appointments. Furthermore, SEBI's endorsement of subordinate unit issuance by InvITs and the recognition of stock exchanges under new administrative roles signal a strategic move towards bolstering market infrastructure and enhancing regulatory oversight. With High-Value Debt Listed Entities granted an extended timeline for compliance, SEBI reaffirms its commitment to supporting market participants through transitional phases, ensuring a seamless transition towards greater transparency and accountability. Stay tuned as SEBI continues to spearhead transformative initiatives that redefine the contours of India's securities market, ushering in an era of growth, resilience, and regulatory excellence! 🚀📈 #SEBI #MarketReforms #InvestorProtection #RegulatoryExcellence #FinancialMarkets https://lnkd.in/gpUtaYzt

FIA has released a report on the challenges and opportunities facing the European listed derivatives markets. The report, based on responses to a survey conducted recently by Acuiti.io, finds: 🔵 Optimism regarding growth and innovation in Europe, but many firms see more growth potential in other parts of the world 🔵 Interest rates and energy are the asset classes with the greatest potential for growth in trading volume over the next five years 🔵 Regulatory burden is widely viewed as a major challenge Read the full report: https://lnkd.in/eNT4MBgW

[📣 🚨 𝗡𝗲𝘄 𝗣𝗮𝗽𝗲𝗿 𝗿𝗲𝗹𝗲𝗮𝘀𝗲: 𝗜𝘀𝘀𝘂𝗮𝗻𝗰𝗲 𝗼𝗳 𝗗𝗲𝗯𝘁 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝗶𝗲𝘀 𝗶𝗻 𝗟𝘂𝘅𝗲𝗺𝗯𝗼𝘂𝗿𝗴] 𝗜𝗺𝗺𝗼𝗯𝗶𝗹𝗶𝘀𝗮𝘁𝗶𝗼𝗻, 𝗗𝗲𝗺𝗮𝘁𝗲𝗿𝗶𝗮𝗹𝗶𝘀𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗯𝗲𝘆𝗼𝗻𝗱 We are thrilled to announce the release of a comprehensive paper on the issuance of debt securities in Luxembourg prepared by the LuxCMA Listing Act Working Group, in collaboration with the Market Infrastructures team. Check it out now on our website! 📄 This document delves into the evolving landscape of dematerialised securities, whether issued in the form of a global note or as fully dematerialised instruments. The objective of this publication is to provide an insight into the comprehensive capital markets ecosystem existing in Luxembourg and in this way assist issuers in identifying opportunities to enhance efficiency in the areas of issuance and post-trade services for debt securities. 🔍 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀: - 📊 Detailed analysis of the current state of dematerialised securities in Luxembourg - 📈 Strategic recommendations for issuers and investors - 📚 Insights into Luxembourg’s regulatory environment and future developments We invite all stakeholders in the financial sector to explore this insightful publication and join the conversation on the future of securities issuance. 📅 Save the Date! 𝗧𝗵𝗲 𝗵𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀 𝗼𝗳 𝘁𝗵𝗶𝘀 𝗽𝗮𝗽𝗲𝗿 𝘄𝗶𝗹𝗹 𝗯𝗲 𝗱𝗶𝘀𝗰𝘂𝘀𝘀𝗲𝗱 𝗮𝘁 𝗼𝘂𝗿 𝗟𝘂𝘅𝗲𝗺𝗯𝗼𝘂𝗿𝗴 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗠𝗮𝗿𝗸𝗲𝘁𝘀 𝗗𝗮𝘆 𝗼𝗻 𝟮 𝗝𝘂𝗹𝘆. Don't miss this opportunity to engage with industry leaders and gain deeper insights into the future of dematerialised securities. Read, download & share this useful paper! ➡️ https://lnkd.in/e969PeJE Stay tuned for more updates and discussions! #LuxCMA #DematerialisedSecurities #Finance #ListingAct #MarketInfrastructures #DigitalTransformation #SecuritiesIssuance #CapitalMarkets

I'm pleased to present Euronext's strong results for Q1 2024, showcasing the dynamic organic growth we've experienced across our diversified business model. We have delivered +8.0% revenue growth in Q1 2024, bringing revenue and income to a record level of €401.9 million. This steady performance was driven by solid growth in non-volume related businesses, record performances in fixed income and power trading as well as the benefits of our successful expansion of Euronext Clearing to Euronext’s European cash markets in November 2023. Our financial performance has been outstanding, with adjusted EBITDA climbing by 15.0% to €251.3 million, and adjusted net income rising by 11.7% to €164.2 million. This growth translated to an adjusted EPS of €1.58, marking a 15.0% increase from last year. We are on track to complete the integration of the Borsa Italiana Group. We have completed the migration of Italian derivatives to Euronext’s proprietary trading platform Optiq® in March. The last step of the integration will be delivered in Q3 2024, when we will migrate all Euronext financial derivatives and commodities listed on our European markets to Euronext Clearing to complete our presence on the entire trading value chain. We launched Euronext Mid-Point Match, which has enhanced liquidity access for our trading participants. We rolled out a harmonised corporate actions service across our CSDs to tackle post-trade fragmentation in Europe. We have strengthened and diversified our data and index franchise with the acquisition of Global Rate Set Systems, a leading provider of services to benchmark administrators. Euronext sustained its leadership position in equity listing in Europe and in debt listing worldwide in Q1. On the equity listing side, we recorded 10 new listings in Q1 and we observe in the second quarter, an encouraging dynamic of our listing activity, with two large IPOs on Euronext in April: Planisware and CVC Capital. On the debt side, we reached for the first time over 57,000 bonds listed on our market and we also strengthened our leading position in ESG bond listings. These results underscore once again our strong financial performance, successful integration projects, and strategic initiatives aimed at driving growth and expanding our market capabilities. https://lnkd.in/ebSZh2mj

🏆𝐏𝐨𝐥𝐚𝐧𝐝'𝐬 𝐁𝐨𝐧𝐝 𝐁𝐨𝐨𝐤𝐫𝐮𝐧𝐧𝐞𝐫𝐬 𝐋𝐞𝐚𝐠𝐮𝐞 𝐓𝐚𝐛𝐥𝐞, 𝐉𝐚𝐧-𝐌𝐚𝐫 𝟐𝟎𝟐𝟒 We're pleased to release the league table for investment banks, detailing the bookrunners of domestic corporate bond placements in Poland's market from January to March 2024. This table accurately showcases the activities of investment banks and companies (Bookrunners) within the primary local borrowing market, focusing on placed amounts. 𝘕𝘰𝘵𝘦 𝘵𝘩𝘢𝘵 𝘵𝘩𝘦 𝘵𝘢𝘣𝘭𝘦 𝘦𝘹𝘤𝘭𝘶𝘴𝘪𝘷𝘦𝘭𝘺 𝘧𝘦𝘢𝘵𝘶𝘳𝘦𝘴 𝘗𝘭𝘢𝘪𝘯 𝘝𝘢𝘯𝘪𝘭𝘭𝘢 𝘣𝘰𝘯𝘥𝘴, 𝘦𝘹𝘤𝘭𝘶𝘥𝘪𝘯𝘨 𝘴𝘦𝘤𝘶𝘳𝘪𝘵𝘪𝘻𝘦𝘥 𝘣𝘰𝘯𝘥𝘴, 𝘴𝘵𝘳𝘶𝘤𝘵𝘶𝘳𝘦𝘥 𝘱𝘳𝘰𝘥𝘶𝘤𝘵𝘴, 𝘢𝘯𝘥 𝘣𝘰𝘯𝘥𝘴 𝘸𝘪𝘵𝘩 𝘢 𝘮𝘢𝘵𝘶𝘳𝘪𝘵𝘺 𝘶𝘯𝘥𝘦𝘳 365 𝘥𝘢𝘺𝘴. 🔝PKO Bank Polski is ranked the highest in the main league table with a result of 391 million US dollars and 4 issues. It is followed by Bank Pekao S.A., which arranged 6 issues for a total of 137 million US dollars, and mBank S.A., which took part in arranging the placement of 2 issues for 72 million US dollars. The top five also include Michael / Ström Dom Maklerski and Dom Maklerski BDM S.A. which took part in arranging the placement of 8 and 8 issues for a total of 71 million US dollars and 58 million US dollars respectively. The Top-12 also include: - Bank Gospodarstwa Krajowego - Q Securities - IPOPEMA Securities - Noble Securities S.A. - NWAI DM - Trigon - Dom Maklerski Navigator S.A. #Poland #fixedincome #bondmarket #cbonds #obligacje #rynekobligacji

Cboe Clear Europe had a record-breaking third quarter, hitting all-time highs for pan-European market share and interoperable market share in cash equities, underscoring strong user demand for competitive clearing.   Moreover, our diversification into other asset classes continues apace, with record volumes cleared for Cboe Europe Derivatives and the launch of Securities Financing Transactions clearing on track for Q4, pending regulatory approvals.   For more details, visit Cboe Clear Europe: clear.cboe.com

ETFs have recently become increasingly popular among investors ⬆ In the US, their holdings have more than doubled in the last decade and they account for almost one third of the net asset value of US mutual funds. 💸 Europe has also seen a steady but slightly slower growth in the share of ETFs among mutual funds compared to the US. And a wide range of Hungarian investors can now not only access international ETFs in Hungary, but also trade domestically issued ETFs. From April this year, CETOP ETFs have been added to the range. 📈 Read more: https://lnkd.in/d3_vp_My

🏆𝗛𝘂𝗻𝗴𝗮𝗿𝘆'𝘀 𝗕𝗼𝗻𝗱 𝗕𝗼𝗼𝗸𝗿𝘂𝗻𝗻𝗲𝗿𝘀 𝗟𝗲𝗮𝗴𝘂𝗲 𝗧𝗮𝗯𝗹𝗲, 𝗝𝗮𝗻-𝗦𝗲𝗽 𝟮𝟬𝟮𝟰 We are delighted to unveil the league table for investment banks, showcasing bookrunners of domestic corporate bond placements in Hungary’s market from January to September 2024. This table is crafted to highlight the activities of investment banks and companies (Bookrunners) within the primary local borrowing market, focusing on placed amounts. 𝘗𝘭𝘦𝘢𝘴𝘦 𝘯𝘰𝘵𝘦 𝘵𝘩𝘢𝘵 𝘵𝘩𝘦 𝘵𝘢𝘣𝘭𝘦 𝘰𝘯𝘭𝘺 𝘳𝘦𝘱𝘳𝘦𝘴𝘦𝘯𝘵𝘴 𝘗𝘭𝘢𝘪𝘯 𝘝𝘢𝘯𝘪𝘭𝘭𝘢 𝘣𝘰𝘯𝘥𝘴; 𝘵𝘩𝘶𝘴, 𝘴𝘦𝘤𝘶𝘳𝘪𝘵𝘪𝘻𝘦𝘥 𝘣𝘰𝘯𝘥𝘴, 𝘴𝘵𝘳𝘶𝘤𝘵𝘶𝘳𝘦𝘥 𝘱𝘳𝘰𝘥𝘶𝘤𝘵𝘴, 𝘢𝘯𝘥 𝘣𝘰𝘯𝘥𝘴 𝘸𝘪𝘵𝘩 𝘢 𝘮𝘢𝘵𝘶𝘳𝘪𝘵𝘺 𝘰𝘧 𝘭𝘦𝘴𝘴 𝘵𝘩𝘢𝘯 365 𝘥𝘢𝘺𝘴 𝘢𝘳𝘦 𝘦𝘹𝘤𝘭𝘶𝘥𝘦𝘥. 🔝OTP Bank Magyarország is ranked the highest in the main league table with a result of 836.35 million US dollars and 23 issues. It is followed by Erste Group, which arranged 36 issues for a total of 611.85 million US dollars, and MBH Bank, which took part in arranging the placement of 26 issues for 531.74 million US dollars. The top five also include Raiffeisen Bank Hungary and K&H Csoport which took part in arranging the placement of 7 and 2 issues for a total of 222.57 million US dollars and 181.52 million US dollars respectively. The Top-8 also include - UniCredit - ING - Concord Securities #Hungary #pénzügyek #kötvény #fixedincome #bondmarket #cbonds

But Is It Growth? A2X’s exponential growth challenges the JSE! Trading platform A2X Markets has shown significant growth over the past six years, with the number of instruments listed on its platform, the volume traded, and the value traded increasing. A2X was founded by Sean Melnick Ashley Mendelowitz and Kevin Brady with the goal of creating a new South African exchange to compete with the existing Johannesburg Stock Exchange (JSE). It aimed to create an exchange that was more efficient than the JSE with lower fees for investors to trade. A2X was awarded a licence to operate an exchange by the Financial Sector Conduct Authority (FSCA) on 6 April 2017. On 6 October 2017, A2X debuted with three listings – African Rainbow Capital, Peregrine Holdings and Coronation Fund Managers – with a combined market cap of R14 billion. A2X has also managed to attract some of South Africa’s largest companies to its platform, including many JSE Top 40 constituents such as Standard Bank, Sanlam, Discovery, and Prosus. The platform has grown its trade value from R657 million in 2017 to just over R75 billion in the sixth year of operation. Its trade count has also increased exponentially to over 1.2 million trades in the last year, up from 213,000 in 2021/2022. A2X has attracted more companies and investment instruments to list on the platform, adding 88 securities in the past year, which included 13 JSE Top 40 listings. The platform now has 183 securities listed, including 31 of the Top 40 constituents with a total market capitalisation of around R9 trillion. It has achieved this growth by offering substantially lower listing fees for companies while attracting investors with much lower brokerage fees. #growth #investment #stockmarket https://lnkd.in/daF_GKGJ

Euronext is pleased to present our robust Q2 2024 results, driven by our diversified business model. The group achieved 12.2% revenue growth in Q2 2024 compared to Q2 2023, setting a new record with €412.9 million in revenue and income. This performance was fuelled by significant growth in non-volume-related businesses, as well as strong growth in clearing and trading, particularly in fixed income.   Amid an inflationary environment, Euronext maintained effective cost control, resulting in a nearly 20% year-on-year increase in adjusted EBITDA to €256.8 million. The adjusted EBITDA margin also rose by 3.5 points to 62.2%. Euronext is in the final phase of integrating the Borsa Italiana Group. In May, the MTS Production Data Centre was migrated to the Core Data Centre in Bergamo, and in July, the clearing of Euronext commodity derivatives was successfully migrated to Euronext Clearing. The next phase involves migrating the clearing of financial derivatives, slated for completion in September 2024, which will finalise the integration and contribute to delivering the remaining cumulated run-rate EBITDA synergies, targeting €115 million by the end of 2024.   Euronext also pursued strategic expansion with the acquisition of Global Rate Set Systems (GRSS), enhancing its position in the calculation and administration of interbank offered rate indices. This acquisition is expected to bolster the growth of Euronext’s non-volume-related revenues. Innovation remains a priority for Euronext, as demonstrated by the launch of the Euronext Wireless network in July, becoming the first exchange in Europe to offer “Plug & Play” order entry in London via microwave technology, significantly enhancing order transmission speed and reducing latency. Additionally, the Mid Point Match initiative for dark trading continues to gain traction, with increasing volumes each month.   Strategic growth, effective cost management, and commitment to innovation have driven our record-breaking Q2 2024 results, reinforcing our position as the leading pan-European market infrastructure.   Read more here: https://lnkd.in/gYxUxSnB