Bucharest Stock Exchange wants shorter settlement cycle

The board of the Bucharest Stock Exchange (BVB) wants to shorten the settlement cycle from the current T+3 to T+2, starting October 6 this year.This should allow investors to cash in their money from the sale of shares on the Romanian capital market two days after the transaction compared to the current three days. The measure was imposed by the European Union and all the exchanges in the EU must comply by 2015. Markets in Germany and Bulgaria have already reduced their settlement cycle, but most European markets still work with the T+3. Source: http://www.romania-insider.com/Tags: , ,