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New brokerage enters BÉT floor

The State Financial Institutions Supervision (PSzÁF) has approved the operation license of Emita Securities Investment and Services Rt, a new brokerage planning to offer a full range of investment services at the Budapest Stock Exchange (BÉT). Established in September 2004 with Ft 150 million registered capital as a 100% Hungarian-owned private company by GMI Consulting and Services Kft, Emita will enter the trading floor as an independent player without a commercial bank behind it; a description that currently fits 16 existing service providers. The new entrant is planning to target clients with individual needs instead of catering to mass demand. The company is currently waiting for BÉT and the Central Depository and Clearing House Rt (Keler) to approve its membership request, which is expected to arrive within a few weeks. If so, Emita will start trading in late summer.