Wood & Company becomes Super Market Maker for BVB shares

Wood & Company Financial Services, an investment firm focused on European emerging markets, started acting as the Super Market Maker for the Bucharest Stock Exchange (BVB) shares starting from January 3. Wood & Company has been acting exclusively as Super Market Maker for other relevant shares listed on the stock exchange and has decided to become Market Maker for BVB shares to increase liquidity.

”Wood & Company is pleased to participate in this new initiative. We are very supportive of the BVB’s ongoing efforts to enhance the liquidity of the exchange,” said Josef Kohout, head of Trading at Wood & Company.

”This initiative strengthens the partnership with Wood & Company, which is a key marker player on our stock exchange. On this occasion I would like to remind issuers and brokerage houses how crucial for the formation of a better liquidity is market making. Bucharest Stock Exchange has been constantly engaged in promoting this type of trading activity. Favorable conditions offered by the BVB, removal of the fees imposed previously by ASF and the availability of short selling since August 2016 should trigger more activism on the brokers’ side. Moreover, being a market maker is not an act of kindness, it is an act of business,” said Ludwik Sobolewski, CEO at BVB.

Wood & Company has been actively involved in the programs developed by BVB for market improvement also by acting as Super Market Maker for other eight shares listed on the stock exchange: BRD – Groupe Societe Generale (BRD), Electrica (EL), Fondul Proprietatea (FP), Romgaz (SNG), OMV Petrom (SNP), Transelectrica (TEL), Transgaz (TGN) and Banca Transilvania (TLV).

The Super Market Maker is a special type of Market Maker, which assumes the quoting obligations in better terms (minimum volume, quoting period, etc.) in order to support the liquidity of the shares on which it is registered. Market Maker is a BVB’s Participant who undertakes to maintain the market liquidity for a financial instrument, using its own capital, by introducing and maintaining firm bid and ask offers on its own behalf, as well as by concluding trades, based on them,