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UPDATE - BSE launches trade in ten W European blue chips on alternative platform

The Budapest Stock Exchange (BSE) on Tuesday launched trade in shares of ten West European blue chips on an alternative platform, CEO György Mohai announced.

Shares of BASF, BMW, Commerzbank, Deutsche Bank, E.ON, Nokia, Santander, Siemens, ThyssenKrupp and Total trade on the platform, dubbed BETa. Transactions are made with forints, at exchange rates constantly adjusted to market rates, but dividends on the shares are paid in euro.

Erste Bank’s brokerage, which developed the platform and is supporting pricing on the BETa, expects the alternative platform to generate daily turnover of HUF 1bn.

The brokerage wants to expand the number of shares traded on the platform to 30 from January, said Erste Befektetési chairman-CEO Róbert Cselovszki.

BETa’s opening hours, trading periods, offer types and validations conform to BSE rules.