Gold Futures Push Bucharest Bourse’s Derivatives Market To 2011 Record High

05.24.2011 By Florentina Dragu

The Bucharest Stock Exchange Tuesday said 1,073 contracts were traded on the derivatives market last week, for a turnover of 1.5 million lei (around EUR0.36 million), the highest level so far this year.

Most of the contracts were GOLD Futures, the market operator said.

"The high trade volumes of GOLD Futures contract express the important role of market makers in the development of derivatives market," said Mihaela Bîciu, general manager of SSIF Tradeville SA brokerage house.

As of May 9, Tradeville is market maker for GOLD futures with maturities in June and August this year.

The minimum volume corresponding to the firm bid-ask quotes is 100 contracts, while the maximum spread between the bid and ask quotes displayed by the market maker is 0.2% for the series with the closest maturity and 0.3% for the series corresponding to the second maturity.

"We are glad to see investors and participants increasing interest for the BSE Derivatives Market. Our medium term objective is to grow attractiveness for both investors and market participants, by bringing new instruments and facilities for the active intermediaries," said Valentin Ionescu, general manager of the Bucharest Stock Exchange.


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