Trade volume of the Budapest Stock Exchange (BSE) has kept on growing in the first quarter of 2007, but the bourse remained in the lower section in a regional comparison, with the largest volume growth observed in Warsaw and Vienna.
The charts below are an excellent display of the trend in the past years, showing that while the key markets of the region performed largely the same in respect of volume growth, a rather large divide formed in the past two years. Investors unequivocally started to prefer the stock exchanges of Warsaw and Vienna to Budapest, which of course, is no wonder given the number of shares traded.
For the sake of comparability, the figures used in the charts below were converted into euro. Note duplicated trade volumes were used in each case.
Other bourses of the region - Slovakia, Croatian, Slovenian - have been left out of the report for their liquidity is extremely low and their monthly trade volume is generally not bigger than that of the Budapest Stock Exchange (BSE) on a good day.
We have chosen not to put the spotlight on the Moscow SE, because pure trade volume figures there may be deceptive, given that administrative restrictions generally ban fund mangers from trading. They are allowed to do so only if for some reason they cannot trade in London.
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