London Stock Exchange Group (LON:LSE) and the Bucharest Stock Exchange (BSE) today announce that they have signed an exclusive "Letter of Intent" (LoI) to collaborate across five key business areas.
The LoI, signed today by LSEG and BSE at a meeting at the Bucharest Stock Exchange, sets out five collaboration areas: Primary Markets, Seminars and Training, Proquote market data and trading solutions, FTSE and Post Trade services.
LSEG executives are in Bucharest meeting Romanian government ministers ahead of a planned set of co-ordinated joint initiatives which will bring together Romanian companies and London investors and advisors.
Tracey Pierce, Director of Equity Primary Markets, LSEG said:
"The London Stock Exchange Group is delighted to be working with the BSE. As one of the fastest growing CEE economies, Romania presents exciting and natural partnership opportunities for the London Stock Exchange Group. Through this collaboration we will bring together leading Romanian companies and privatisation candidates with the international investor community in London."
Lucian Anghel, Chairman of the Bucharest Stock Exchange said:
"It is an honour for us to establish a collaboration agreement with the London Stock Exchange Group. Throughout the years the foundation of a partnership has been built, but now we can really strengthen this collaboration and join our efforts towards bringing Romanian investing opportunities closer to London investors."
The scope of the collaboration covers:
- LSEG and BSE will co-promote a "Romania - Investment Forum", to raise awareness amongst London based investors and advisers of the investment opportunities within the fast-growing Romanian economy
- LSEG will support BSE during investor road shows of Romanian privatisation candidates
- The London Stock Exchange Academy will provide seminars, training courses and coaching sessions to members of the BSE, Central Depository, National Securities Commission, Romanian Ministries and Privatisation office
Proquote and Membership:
- LSEG will offer simple access to London Stock Exchange markets for new members together with cost-effective market information and execution facilities using the LSEG's Proquote system
- FTSE Group and BSE to explore the development of suitable indices for the Romanian market
- LSEG and BSE will explore and develop potential collaboration between Monte Titoli and Depozitarul Central
- LSEG will provide assistance for the clearing of BSE traded securities and provide support to the potential establishment of a Securities Clearing House and Central counterparty functions