Brokers to trade unlisted stock, other financial instruments on ROTC too
The Brokers’ Association members at a General Meeting on Friday approved the Trading Mechanism rules of the ROTC, where there will also be traded any other financial instruments approved by the Brokers’ Association Board of Directors, said a release of the body gathering 59 brokerage firms and banks.
The Association initiated the implementation of the over-the-counter trading system – the ROTC – the end-goal of which is to diversify its members’ business opportunities.
The right to broker transactions under the ROTC exclusively belongs to those Association members who are also participants to the Bucharest Stock Exchange system and who pledge to enforce the ROTC rules by contract.
‘We believe that in the current economic climate, the beneficial effects of commissioning the ROTC will be felt ever more strongly, given that one of our major goals is to implement such a project as soon as possible’, Brokers Association chairman Dan Paul said.
The General Meeting also decided to introduce a 20,000 euro acceptance fee for the new members.