Recently BSE sees increased interest by several such new foreign players who can provide further fresh and new liquidity to the Hungarian market. It is now the 3rd consecutive year that BSE cash equities volumes are rising. Compared to last year’s same period the turnover in Budapest is up with 9.2 %.
Richard Vegh: „BSE is honoured to have IB as its member and we believe our market will offer some excellent investment opportunity to the clients of the brokerage firm. We have been working on that more investors step into the Hungarian market and rising liquidity. That why is joyful, that BSE is able to welcome Interactive Brokers as a newest foreign member at Hungarian stock market.”
Jon Chait, Chief Operating Officer at Interactive Brokers, said,
“We are delighted to be able to access the Hungarian financial market. IB was founded by Hungarian native Thomas Peterffy over 40 years ago, and it is a pleasure to come full circle and work with a forward looking exchange like the BSE. We believe that IB’s international scope provides opportunities for investors to efficiently and cost effectively access smaller markets where larger established financial institutions don’t provide services because they don’t see sufficient scale. IB’s technology driven business model is not limited in this same way.”
Mr. Chait explained:
“Our software is borderless, so Hungarian investors can access international markets with the same efficiency as investors local to those markets, and international investors can access the Budapest Stock Exchange with the same competence as Hungarian investors. IB will to continue to develop tools and services that address the trading and wealth management priorities of Hungarian investors within the Budapest market.”
The expansion into the Central European trading venues extends our vision of a seamless multinational, multi-currency, multi-asset class investment experience that lets even retail investors enjoy the same financial tools normally available only to professional investors.