Raiffeisen AG becomes first remote BÉT trader
Wednesday, February 23, 2005, 16:14
Austria?s Raiffeisen Centrobank AG, present in Hungary for a decade through subsidiary Raiffeisen Bank Rt, has become the first remote member of the Budapest Stock Exchange (BÉT) today, executive board member A. Michael Spiss said in a press conference. The aim of the move is to make Hungarian stocks available to a wider circle of investors in order to satisfy increased demand outside Hungary since the EU enlargement. ?Although the Hungarian capital market was appealing only to emerging market funds not long ago, interest in Hungarian investments has increased as turnover grew sharply recently,? Spiss said, emphasizing the new opportunities opening up to BSE in a single European market. The market infrastructure for remote trading is in place and regulatory barriers have been removed as well, BÉT CEO Zsolt Horváth added.