Electrica, one of the most important players on the electricity distribution and supply market in Romania, signed for market-making services with BRK Financial Group and Wood & Company Financial Services a.s. (Wood&Co), with the main objective of increasing the liquidity of its own shares on the Bucharest Stock Exchange (BVB) for inclusion in the international FTSE Russell indices, according to a press release received by Energynomics.

The two liquidity providers – BRK Financial Group and Wood&Co – will start quoting as Market Makers for the Issuer starting January 3, 2023, respectively packages of at least 37,000 Electrica S.A. shares (symbol EL) to buy (BID) and to sell (ASK), at a maximum difference of 2% between quotes.

“Electrica’s entry into the FTSE Russell international index series is one of our main objectives for the next period, and signing with the two biggest players on the local market-making market is the optimal measure to achieve this goal, which will be felt, implicitly, in a positive sense on the market value and visibility of Electrica, both for the benefit of our current shareholders and future investors,” said Alexandru Chiriță, General Manager of Electrica.

For BRK Financial Group, Electrica is the 16th share for which the company provides market-making services for the Issuer, being the most active broker on the BSE profile market.

“First of all, we would like to thank the Electrica company for selecting us as a partner in the Issuer’s Market-Maker program. In line with the agreed objective, we have calibrated a very competitive quote package (over 50,000 euros minimum value of buy and sell orders). From our perspective, we propose that the results be seen in a very short time horizon, in the sense of improving liquidity, and in the medium term (most plausible in February 2024), Electrica shares will be included in the FTSE Russell index series,” said Monica Ivan, Director General of BRK Financial Group.

For Wood&Co, Electrica is the fourth issuer in the portfolio, the brokerage company being the second largest player in the market-making market for the Issuer.

“Wood&Co is proud to become a partner of Electrica. Our common and main goal of the market-making project is to provide maximum support for Electrica shares, making them more liquid and less volatile, which should ultimately attract more local and international investors,” said Josef Kohout, Head of Trading Wood&Co.

With Electrica, the number of issuers benefiting from dedicated market-making services reaches 20, with the mention that 3 companies, including Electrica, benefit from dual market-making services.