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Polish broker starts active trade on Budapest bourse

Polish broker company Ipopema Securities has started active trading on the Budapest Stock Exchange (BSE) this week, BSE sources confirmed press reports to Econews on Thursday.

Ipopema has employed three former KKBC Securities traders to start trade with, the business daily Napi Gazdaság reported.

The Polish company has, in fact, been a member of the shares section of the Budapest bourse since May 2008 and has had trading rights in the section since January 15, 2009.

The fact that Ipopema has not become an active trader earlier is related to the delayed implementation of the Markets in Financial Instruments (MIFID) Directive in Poland, information on the bourse's website suggests.

Ipopema started to trade securities in 2006 and had the fourth largest turnover on the Warsaw stock exchange last year. It has been listed on the Warsaw exchange since 2009. (MTI-ECONEWS)