Sibex Brosura

7/30/2019 Sibex Brosura

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INVEST YOUR IDEASINVESTETE-I IDEILE


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FOREwORDA strong stock exchange is, above all, a credibleexchange and hard gained trust can be lost in theblink o an eye.

Sibiu, Transylvanias most important o the seven Saxoncities, can send out the needed credibility in constructinga major nancial market and this was my main reason tobecome involved in the Sibex project.

Beore becoming a mature nancial market, Sibex canbe a learning ground or Romanian investors. We will tryto develop an educational program which will be able toanswer most o their questions.

Warren Buett said that the ideal time to invest in the stockmarket is when you have money you do not need or day-to-day living. The essence o my plan within Sibex is tocreate an exchange that will allow anyone at any time toinvest protably, regardless o the trend o the economy.

I hope, together with the Sibex team, that we have a goodplan.

With modesty and letting go o egos, togetherwith the tens o thousands o potential investors, wewant to give you a transparent and most importantly,CREDIBLE stock exchange.

I am relying heavily on the moral health o the region inorder to oer Sibius Stock Exchange this most wantedcredibility.

Cristian SimaChairman - Sibiu Stock Exchange

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BUN VENIT

pE pIAAIDEILORCUVNT DE

NCEpUTO burs puternic este, nainte de toate, o burscredibil. Iar ncrederea ctigat cu greu sepoate pierde ulgertor.Sibiul, cel mai important burg transilvan din grupul celorapte ceti sseti, poate emana credibilitatea necesarconstruciei unei piee nanciare importante i acesta estemotivul primordial care m-a determinat s m implic nproiectul Sibex.

nainte de a deveni o pia nanciara matur, Sibex poate ocoal pentru investitorii romni. Vom ncerca s dezvoltmun program educaional care s raspund la multe dinntrebarile acestora.

Warren Buett spunea c momentul ideal pentru a investila burs este acela n care ai bani care nu-i olosesc traiuluicotidian. Esena planului meu la Sibex este s creez o burscare s permit n orice moment, indierent de mersul

economiei, s investeti protabil. Eu i echipa de la Sibexsperm s avem un plan bun.

Cu umilin i r orgolii, mpreun cu zecile de mii depoteniali investitori dorim s v druim o burs transparenti mai ales CREDIBIL.

M voi baza oarte mult pe sntoasa moral a locului pentrua da Bursei din Sibiu acest credibilitate att de dorit.

Cristian SimaPreedinte - Sibex - Sibiu Stock Exchange


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pIONIERI AI

pIEEISUCCESULUIpREzENTAREA

BURSEIInvestiia la burs este un pas important ctre strngereaondurilor necesare ndeplinirii obiectivelor strategice aleoricrei companii. Societate privat cu capital de 33,42milioane lei, Sibex - Sibiu Stock Exchange este primuloperator pe piaa bursier din Romnia autorizat de CNVM.Iniiator al pieei utures i options, Sibex este liderulpieei romneti a instrumentelor nanciare derivate.Inovaia continu a echipei noastre ia natere din experiena

celor peste 16 ani n domeniu, ind vizibil n produselei serviciile destinate investitorilor. Piaa reglementat ainstrumentelor derivate oer participanilor posibilitateade a tranzaciona contracte utures, opiuni, opiuni binarei contracte nanciare pentru dieren (CFD). Investiiile,

ns, capt i alte orme, prin dierite posibiliti deexercitare:

Piaa reglementat la vedere, disponibil cu urmtoarele

opiuni: aciuni i aciuni internaionale; drepturi i drepturi internaionale; obligaiuni corporative, municipale i internaionale; titluri de stat; aciuni i uniti de fond emise de organisme de plasament colectiv; produse structurate;

ETF-uri.

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SIBEx pRESENTATIONSibex represents the ideal partner orraising unds in order to ulll the strategicgoals o any company. Sibiu Exchangewas established as a private company with33.24 million lei share capital and was therst Romanian exchange authorized byRNSC. Being the pioneer o exchange listedderivatives in Romania, at the moment, Sibexis the leader on this market segment.

With over 16 years o experience in thesegment o derivatives, Sibex oersinvestors accessible products and services.

The regulated nancial derivatives marketoers the participants the possibility totrade utures and options contracts, binaryoptions, contracts or dierence (CFD).Investments also take on other orms,through dierent possibilities o exercising.

On the regulated spot market administeredby Sibiu Exchange, the ollowing nancialinstruments can be traded:

Shares and international shares;

Rights and international rights; Corporative bonds, municipal

and international bonds; Treasury bonds; Shares issued by Collective

Investment Units; Fund units;


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Sistemul alternativ de tranzacionare Start,cu urmtoarele opiuni:

aciuni i aciuni internaionale; drepturi i drepturi internaionale;

obligaiuni corporative, municipale i internaionale; aciuni i uniti de fond emise de organisme de plasament colectiv; produse structurate; ETF-uri; instrumente nanciare admise la tranzacionare

i pe o pia reglementat (tranzacionate,dar nelistate n cadrul sistemului alternativ de

tranzacionare).

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Start Sibiu Stock Exchange alternativetrading system has the ollowing options:

shares and international shares;

rights and international rights; corporative bonds, municipal

and international bonds; shares issued by Collective

Investment Units; Units of Investment Funds; ETFs (Exchange Traded Funds); Financial instruments admitted

or trading on a regulated market(traded but not listed on thealternative trading system).


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pAS CU pAS

CTREO pOVESTEDE SUCCES

SCURTISTORIC1994

1997

1998

2000

2003

2004

2007

Se nineaz Bursa de Mruri Sibiu, iniiativ privata unui grup de 11 oameni de aaceri.

Bursa de Mruri Sibiu devine Bursa MonetarFinanciar i de Mruri Sibiu (BMFMS).Se lanseaz primele contracte utures.

Se externalizeaz departamentul de clearing prinninarea Casei Romne de Compensaie.Se lanseaz primele opiuni pe contracte utures.

Activitatea de tranzacionare se mut din ringuripe platorma electronic Sagitarius ExchangeTrading System.

CNVM autorizeaz BMFMS n calitate de societate

de burs.

CNVM autorizeaz piaa de instrumente derivatea BMFMS.Primele Societi de Servicii de Investiii Financiaredevin participante pe piaa BMFMS.

Bursa de Valori Varovia intr n acionariatulBMFMS.

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1994Sibiu Commodities Exchange wasounded as a corporation with 11shareholders.

1997Sibiu Commodities Exchange becamethe rst Romanian derivatives exchangethrough the implementation o theutures contracts.

1998Romanian Clearing House (RCH) wasounded. RCH acts as Central Counterpartyand guarantees all trades concluded onSibex derivatives market. The rst optionson utures were implemented at SMFCE.

2000Sibiu Monetary Financial andCommodities Exchange replacedthe open outcry trading with

the electronic trading system -SAGITARIUS.

2003The Romanian National SecuritiesCommission (RNSC) authorized SMFCEas an Exchange company.

2004The rst Capital Market Intermediariesstarted to trade on SMFCE market.SMFCE nancial derivatives market wasauthorized urther to RNSC decision.

2007Warsaw Stock Exchange becameshareholder o Sibiu Monetary Financialand Commodities Exchange.

ShORT hISTORY


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2008SMFCE became member o theAssociation o Futures Markets.

2009SMFCE launched the Trading Systemprovided rom Trayport Ltd. London(Global Vision), which replaced the oldtrading system developed in-house.

2010Sibiu Monetary Financial and CommoditiesExchange launched the utures contracton the American Index Dow JonesIndustrial Average;

Sibex shares were admitted to trading onthe regulated market, administered bySMFCE.The rst company listed on the alternativetrading system, administered by SMFCE;Sibex became member o Swiss Futuresand Options Association.

2011Sibex Sibiu Stock Exchange became thenew name o the company Sibex launchedto trading the derivatives on Fondul

Proprietatea shares.Binary options were launched;Oil Futures contracts were launched;EUR\USD Futures contracts were launched.

2008

2009

2010

2011

BMFMS devine membr a Association o FuturesMarkets.

CME i Dow Jones Indexes acord BMFMS licena pentrutranzacionarea contractelor utures pe indicele DJIA.

Global Vision, urnizat de Trayport London, devine noulsistem de tranzacionare electronic, dedicat brokerilori clienilor.

Se lanseaz piaa la vedere, prin listarea BMFMS (simbolSBX).Pe Sistemul Alternativ de Tranzacionare se listeazprima companie.Sibex devine membr a Swiss Futures and Options

Association.

Sibex Sibiu Stock Exchange devine noua denumire acompaniei.Se lanseaz la tranzacionare instrumentele derivate peaciunile Fondul Proprietatea.Se lanseaz opiunile binare.Se lanseaz derivatele pe petrol - Light Sweet Crude - Oil.Se lanseaz derivatele pe EUR/USD - EUR/USD_RON.


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GSETE

INSpIRAIELA LOCULpOTRIVITREALIzRI

I pOTENIALpE pIAAROmNEASCOrice investiie este o prob a inteligenei i a cunoaterii

ecruia. Ani de-a rndul, tranzaciile la Sibex au dusmult lume pe calea ctigului. Orice poveste de succes,ns, are i modele de succes. Unele aciuni s-au distins,n acest timp, prin valoarea pe care au cptat-o datoritcelor care le-au privit cu ncredere.

Cele mai tranzacionate derivate pe piaa Sibex nperioada 2005-2010

Loc Simbol Activ suport Nr. contracte

1 DESIF5 Aciunile SIF Oltenia 7.885.069

2 DESIF2 Aciunile SIF Moldova 5.015.592

3 DESNP Aciunile SNP Petrom 738.938

4 DETLV Aciunile Banca Transilvania 655.707

5 DERRC Aciunile Rompetrol 452.075

6 DESIF3 Aciunile SIF Transilvania 448.406

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ACCOmpLIShmENTS

AND pOTENTIALON ThE ROmANIANCApITAL mARkETAny investment is a test o howa person uses intelligence andknowledge. For many years, ourderivatives activity has enriched themarket participants. In January 2010Sibex launched the spot market,giving any company the possibilityto be listed on the Exchange and toattract nancing using the capital

market.

The most traded derivatives onSibex market during 2005-2010

No. Symbol Underlyingasset

No. ocontracts

1 DESIF5 SIF Oltenia shares 7,885,069

2 DESIF2 SIF Moldova

shares

5,015,592

3 DESNP SNP Petrom

shares

738,938

4 DETLV Banca

Transilvaniashares

655,707

5 DERRC Rompetrol shares 452,075

6 DESIF3 SIF Transilvania

shares

448,406

7 DEDJIA Dow Jones

Industrial AverageIndex

345,620

8 EUR/ RON

EUR/RONcurrency

293,017

9 DEAMO Amonil shares 57,129

10 DEBRK SSIF Broker

shares

49,063


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7 DEDJIA Indicele Dow JonesIndustrial Average

345.620

8 EUR/RON Cursul valutar EUR/RON 293.017

9 DEAMO Aciunile Amonil 57.129

10 DEBRK Aciunile SSIF Broker 49.063

Valoarea tranzaciilor aciunilor n 2010

Loc Simbol Denumire emitentValoare

tranzacii (lei)

1 SBX Sibex - Sibiu Stock Exchange S.A. 25.434.529

2 PPLI Prodplast Imobiliare S.A. 21.314.873

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Value o traded sharesduring 2010

No. Symbol Issuer Tradingvalue (lei)

1 SBX Sibex - Sibiu StockExchange S.A.

25,434,529

2 PPLI ProdplastImobiliare S.A.

21,314,873


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NCREDE-TE N

VIzIUNEA TAAVANTAjELEDERIVATELOR

SIBExIndierent de viziunea pe care o ai asupra aacerilor, Sibexi oer, prin varietatea modalitilor de tranzacionare,posibilitatea obinerii maximului de benecii potriviteinspiraiei i cunoaterii tale.

i acoperi risculprin hedging, diversicndu-i portooliulde investiii. Astel de operaiuni sunt recomandate

juctorilor mari, de talia ondurilor de investiii sau acompaniilor cu expunere masiv n piaa spot.

Eectuezi tranzacii n marj, pltind doar o raciunedin valoarea unui numr de aciuni pe piaa utures (deregul, 10-20%). Aceste garanii sunt colectate de CasaRomn de Compensaie, instituie independent deburs, care deconteaz i garanteaz tranzaciile utures.

Ctigi i cnd preul scade, vnznd n lips. Pe piaautures, un activ se poate vinde r a cumprat nprealabil, datorit naturii dematerializate a derivativelor.

Spre deosebire de piaa aciunilor, protul poate obinut i la creteri i la scderi de pre, lucru deosebitde util celor care dein portoolii de aciuni i care dorescs le conserve acestora valoarea i n perioade de declinal pieei.

nregistrezi prot pe intervale nguste de pre, prin pasulde tranzacionare de 1 RON la contracte de peste 10.000RON sau 0,0001 RON la contracte de sub 5.000 RON.

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SIBEx DERIVATIVESADVANTAGESSibex oers, through a wide range otrading choices, the possibility to gainmaximum benets according to eachinvestors knowledge.

Hedging against investment risk meansstrategically using instruments in themarket to oset the risk o any adverseprice movements. This type o operationsare recommended to major investors.

Take advantage o the leverage providedby the 10-20% margins. These guaranteesare collected by the Romanian ClearingHouse, the company in charge with theevidence, clearing and settlement o theutures trades.

"Short selling" means that on the uturesmarket an asset may be sold withoutbeing bought, due to the act that the

derivatives are dematerialized. Thisway, a speculator may gain prot onprice volatility in contrast with the stockmarket. This is useul or those who holdstocks portolios and want to maintainthe value during bearish trends.


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Aceti pai ac posibil acoperirea rapid a comisionuluila cea mai mic micare de pre, la mizarea pe poziiacorect.

i limitezi pierderea doar prin prima pltit la cumprare.

i constitui marje i din aciuni, reducnd simitorcosturile de nanare a poziiilor short pe piaa Sibex,avantaj important n cazul desurrii de operaiuni dehedging. Aciunile SSIF pot constitui pn la 50% dinnecesarul de marj pentru poziiile deschise din aciunilistate, cu condiia ca acestea s e n proprietatea lor.

Intri i iei n pia asigurat de market-makeri, beneciind

de urnizori de lichiditate.

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You may prot rom low pricemovements due to 10 RON, 1 RONor 0.1 RON tick value. In some cases

you cover your expenses as low as 2-3ticks.Options trading mean that your risk islimited to the amount o the premiumpaid i you buy options or you gainprot, even i prices o the underlyingassets are not moving.

Broker margin may be posted in cashor listed stocks and bonds up to 50%,making your hedging operations more

ecient.

Your entry and exit on the market areeasier because the market makers areproviding the necessary liquidity.


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FINANEAz-I

IDEILEAVANTAjELESIBEx SpOT

Piaa spot Sibex, extrem de util companiilor de elit, oerposibilitatea unei consistente atrageri de nanare. Acestlucru este posibil prin opiunea listrii la Sibex sau dublei listri

Sibiu Stock Exchange Warsaw Stock Exchange, Bursa dinVarovia ind cea mai mare din regiune i a doua din Europadin punctul de vedere al numrului i valorii IPO-urilor.

Sistemul Start oer avantaje companiilor de talie mic,celor care nu ndeplinesc condiiile necesare listrii pe piaareglementat i companiilor nou-ninate. De asemenea,mecanismul bursier asigur i conanarea n proiectele deaccesare a ondurilor europene, prin condiiile mai avantajoasea de cele ale apelrii la creditele bancare.

Listarea la burs este una dintre cele mai acile i directemetode de atragere a resurselor nanciare. n acelai timp,companiile tranzacionate pe burs beneciaz de o multmai mare vizibilitate i publicitate, acionarii avnd asiguratun exit parial sau total.

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SIBEx SpOT BENEFITSSibex options market can ideally

meet the needs o investors, oeringsignicant nancial advantages.This may be possible by means obeing listed on Sibex market or by adouble listing: Sibiu Stock Exchange- Warsaw Stock Exchange, the latterrepresenting the largest Exchangein the region and the second onein Europe, as ar as the number andvalue o IPOs are concerned.

Start - Sibiu Stock Exchange tradingsystem oers advantages to smallcompanies, those who do not ulllthe necessary requirements orbeing listed on the regulated marketas well as to new companies. Alsothe mechanism o the Exchangeprovides co-nancing or the projecto European unds oering moreadvantages than banks.

Listing a company on the StockExchange improves its image inthe relationship with its partners,investors and the media; it bringsnancial resources as the companyscapital may increase and shareholderso the respective company have thepossibility to make an exit, ater acertain period o time. Listing on

the Stock Exchange provides to theshareholders a ast and convenientway to partially or totally capitalizetheir stake by selling it on Sibexmarket.


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ALEGE-I

jOCULpRODUSELESIBEx

Pentru ca o investiie s dea rezultate maxime, trebuie alesetranzaciile potrivite perspectivelor i viziunii ecruia.Tranzacionabile zilnic ntre 9:45 19:00, produsele i

contractele standardizate Sibex oer oportuniti multiplede ctig, recunoscute i consacrate pe plan internaional:

contractele utures permit managementul risculuivalutar, al portooliilor de aciuni, mruri, precum ioperaiuni de arbitraj, ncheindu-se pe active suport,precum aciuni, indici bursieri, cursuri de schimbvalutar, metale sau emisii CO;

opiunilesunt tranzacionabile n stil american, avndcontractele utures ca active suport i perminddezvoltarea strategiilor complexe de tranzacionare;

opiunile binare au ca activ suport cursurile valutare,aducnd un venit x pentru cumprtori i un risclimitat pentru vnztori;

Contractele Financiare pentru Dieren au ca activsuport aciuni, presupunnd un cost zilnic de nanare

pentru cumprtori.

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SIBEx pRODUCTSIn order or an investment tobecome protable, one has to

choose the most appropriatetrades according to each vision.Sibex products and contractsare traded on a daily basis, romMonday to Friday between 9:45-19:00, oering international gainopportunities.

utures contracts enable therisk management or currency,

share portolios, commodities,as well as arbitrage operationshaving as underlying assetsshares, stock indexes, currencypairs and carbon emissions;

options have American-styleexercise, with utures contractsas underlying asset andpermitting the development o

complex trading strategies;

Binary options have thecurrency rate as underlyingasset, oering xed income tothe buyers and limited risk tothe sellers;

Contracts or Diference (CFD)have shares as underlying asset,implying a daily nancing costfor the buyers;


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pARTENERII

SIBEx

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SIBEx pARTNERSFrom 1994, Sibiu Stock Exchangehas grown in accreditation, both

nationally and internationally.Proo o this is the increasingnumber o partnerships orprojects regarding the derivativesmarket development and theimprovement o the businessenvironment. Some o the partnersare:

Romanian Clearing House,in charge with the evidence,

clearing and settlement othe contracts traded on Sibexmarket;

Sibex Depository, whichensures clearing and settlemento the spot market and o thealternative trading system;

Trayport Ltd. London, provider

o the Global Vision tradingplatform;

Chicago Mercantile Exchange& Dow Jones Indexes, throughthe license or the uturescontract on the American IndexDow Jones Industrial Average;

Warsaw Stock Exchange,shareholder at Sibex andpartner in projects regardingthe development o the spotmarket and the double listingWSE-Sibex;

32 intermediaries and 108active brokers.

Din 1994, Sibex - Sibiu Stock Exchange a crescut carecunoatere att pe plan naional, ct i internaional.Dovada acestui lucru este numrul partenerilor alturide care dezvoltm permanent proiecte pentru cretereapieei bursiere i mbuntirea mediului de aaceri:

Casa Romn de Compensaie, casa de clearing igarantul operaiunilor efectuate la Sibex;

Depozitarul Sibex, serviciul de compensare-decontarei registru al pieei la vedere i al sistemului alternativ detranzacionare;

Trayport Ltd. London, urnizorul platormei electronicede tranzacionare Global Vision;

Chicago Mercantile Exchange & CME Indexes, prinlicena pentru tranzacionarea derivatelor pe indicele

Dow Jones Industrial Average;

Warsaw Stock Exchange, acionar Sibex i partener dedezvoltare a pieei la vedere i derulare de listri dublepe pieele WSE i Sibex;

32 de intermediari i 108 brokeri activi.


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pRImUL pAS

CTRESUCCESLISTAREA LA

SIBExn prezent, nu exist un mod mai bun pentru ca ocompanie s creasc ntr-un mod durabil, sntos,dect listarea la burs. n aar de atragerea resurselornanciare r creterea gradului de ndatorare i, ulterior,libertatea de utilizare a capitalului atras, piaa spotoer un numr de benecii de neignorat. Vizibilitatea,publicitatea, evaluarea companiei la un pre corect,atragerea investitorilor instituionali, strategia de exitpentru acionari, creterea reputaiei sunt argumenteputernice pentru orice companie care se respect.

Condiiile de acces pe piaa reglementat au ostadaptate de Sibex perioadei mai puin avorabile princare trece economia mondial. Pentru listarea pe pia,o companie trebuie s uncionat de cel puin 3 ani,din care minimum un an s nregistrat prot. Deasemenea, societatea trebuie s dein capitaluri propriide minimum 1 milion de Euro, iar procentul de ree-foats e de cel puin 25%.

Companiile care nu ntrunesc aceste condiii pot, totui,s se nscrie n sistemul alternativ de tranzacionare Start.Cu aceleai benecii ca n cazul pieei reglementate,sistemul Start pretinde condiii minime, precum capitaluriproprii sau capitalizare anticipat de minimum 200.000Euro i prezentarea unui plan de aaceri pentru urmtoriitrei ani.

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LISTING ON SIBExAt the moment, listing on theExchange is the best way to urtherdevelop investments, in a healthyand sustainable way. Spot marketoers a series o important benets,besides using the nancial resourceswithout increasing the debt level andthe act that one can use the capitalaccording to his own wishes.Visibility, ree publicity, companysappreciation at a air price, attracting

institutional investors, exit strategyor the shareholders, the increase othe companys reputation representimportant reasons or listing yourcompany on Sibex market.

The access conditions on theregulated market administered bySibex were adjusted to the economicdiculties we are acing. In orderto be listed on Sibex market, a

company must meet the ollowingrequirements: has obtained net protin at least one o the last 3 years oactivity; to have the shareholdersequity value o at least 1 millionEuros and the ree-foat percentageto reach at least 25%.

The companies that do not ulll theserequirements have the opportunityto trade on Start alternative tradingsystem. Thus, the participants mustmeet the ollowing requirements:to have the shareholders equityvalue or the initial capital o the lastnancial year at least the equivalento 200.000 Euros and to provide abusiness plan or the next 3 years.


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jOAC N

SIGURANSISTEmUL DETRANzACIIPentru ca jocurile bursei s e 100% eciente i carezultatele s depind numai de abilitile juctorilor,toate tranzaciile eectuate n cadrul Sibex - Sibiu StockExchange sunt actualizate n timp real printr-un sistemelectronic perormant, construit pe un modul utilizat i

n multe alte piee nanciare renumite. Platorma detranzacionare Global Vision este integrat cu cele dedecontare i de clearing, operate de ctre Casa Romnde Compensaie i de ctre Depozitarul Sibex.

Modulul Matching Engine, urnizat de Trayport Ltd.London, este utilizat i de alte burse i companii de

brokeraj de renume, precum New Zealand StockExchange, BlueNext, Jakarta Futures Exchange, MorganStanley sau Deutsche Bank.

Pentru conectarea la sistemul electronic de tranzacionare,intermediarii pot utiliza urmtoarele variante:

DMA (Direct Market Access), care permite integrareapieei Sibex n propria platform de tranzacionare;

Platorma Eltrans v.6, care vizualizeaz toateprodusele prin intermediul unei interee integratece permite managementul conturilor de clieni, alordinelor de tranzacionare sau al rapoartelor depia;

Interaa Global Vision, recomandat n specialactivitilor de proprietary trading, ea permindvizualizarea pieei, managementul instrumentelori al ordinelor de tranzacionare.

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TRADING SYSTEmTo ensure the 100% eciency o theinvestment and in order to gain protaccording to the investors knowledge, allthe trades on Sibex market are perormedin real-time through an electronic sotware,also used on other important nancialmarkets. The Global Vision trading platormis integrated with the clearing and settlementplatorms, operated by the RomanianClearing House and the Sibex Depository.

The Matching Engine module, providedby Trayport Ltd. London, is also used by

other Exchanges such as New ZealandStock Exchange, Blue Next, Jakarta FuturesExchange, Morgan Stanley or DeutscheBank. In order to be connected to theelectronic trading system, the intermediariesmay use the ollowing options:

DMA (Direct Market Access), enables theintegration o the Sibex market within itsown trading platform;

Eltrans v.6 - trading interace developedby Sibex, a client-server applicationdesigned in order to acilitate the tradingo the nancial instruments on the marketsadministered by Sibex;

Global Vision interace, recommendedespecially or proprietary trading, allowingmarket visualization, o the trading ordersand instruments management.


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Pentru asigurarea succesului de lung durat al investiiilordin prezent, trebuie investit i n viitor. Astel, educaia a

ost i este una din prioritile Sibex, ind o componentprincipal a strategiei de marketing a companiei. De-a lungultimpului, Sibex a derulat numeroase campanii educaionale

n cadrul crora actualii i potenialii investitori au nvat iau luat contact cu piaa utures, prin reprezentanii ei.

ACCESULSibex permite accesul pe piaa sa intermediarilor autorizaide BNR sau CNVM (bnci, SSIF, traderi). Acetia trebuie, nprealabil, s respecte o serie de condiii:

s ncheie cu Sibex un contract privind accesul lasistemul de tranzacionare;

s e membru compensator la Casa Romn deCompensaie;

s dein sisteme de back-oce pentru evidenatranzaciilor efectuate pe pieele Sibex;

s dein cel puin 2 brokeri autorizai pe piaa Sibex.

Documentele necesare admiterii ca participant pe piaaSibex sunt disponibile pe www.sibex.ro.

pREGTETE-

TE pENTRUSUCCESEDUCAIA

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EDUCATIONIn order to ensure the long term success

o present investments, you have toinvest in the uture. Thus, educationwas and will always be one o Sibexpriorities, an important concern orthe company marketing strategy.Along the years Sibex carried onmany educational campaigns or theinvestors in order to learn the uturesmarket and its mechanism.

ACCESSSibex allows access on the marketor intermediaries, banks or traders,authorized by Romanian National Bankor National Securities Commission. Allmarket participants must comply withthe ollowing requirements:

Sibex allows access on the marketor intermediaries, banks or traders,authorized by Romanian National Bankor National Securities Commission. All

market participants must comply withthe ollowing requirements:

signing a contract with Sibexregarding the trading system;becoming Clearing Member at RCH;

having back-oce systems in orderto keep the record o the tradesperformed on Sibex;

having at least 2 authorized brokerson Sibex market;

The necessary documents or theparticipants admission are available onwww.sibex.ro


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Experiena acumulat de-a lungul anilor, nglobat nsisteme perormante de tranzacionare i decontare, apermis Sibex - Sibiu Stock Exchange s dezvolte o piaecient, uor accesibil i transparent. ntr-o perioad

n care, la nivel global, operaiunile bursiere au devenito adevrat industrie, dezvoltarea i consolidarea

poziiei Sibex n cadrul pieelor de capital romneti iinternaionale ilustreaz exact acest lucru.

Credem n dezvoltarea unor parteneriate pe termenlung cu brokerii i clienii notri i suntem pregtii ssprijinim iniiativele de dezvoltare a pieei de capitaldin Romnia. Credem c succesul este un rezultat almai multor mini care lucreaz mpreun, ntr-un cadrupropice. Credem n puterea ideilor, motiv pentru carete ateptm s i le investeti i pe ale tale la noi, la

Sibex.

DE CE SIBEx?

CONCLUzIIGENERALE

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GENERAL CONCLUSIONSThe experience o the previous years,along with high perormance trading

and settlement systems, allowed SibiuExchange to become an eective,accessible and transparent market. Theexchange operations have become areal industry nowadays, which is whySibex development on the Romanianand international capital marketsillustrates exactly the same thing.

We believe in long term partnershipswith our brokers and investors and

we are ready to encourage all theinitiatives regarding the developmento the Romanian capital market.We consider that success is the resulto many minds working together inthe right place.We believe in the positive side o ourideas, which is why we expect you toinvest your ideas at Sibex.


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SIBEX - SIBIU STOCK EXCHANGEPiaa Aurel Vlaicu, Nr. 9-10, Etaj III550377, Sibiu, RomniaTeleon: (+40) 269 211 798 / (+40) 269 211 799 / (+40) 369 401 498Fax: (+40) 269 211 [email protected]

Tranzacionarea instrumentelor derivate implic asumarea unor riscuri, motivpentru care poate s nu e potrivit pentru toi investitorii. Pe piaa Sibex,ctigurile i pierderile sunt creditate i debitate din cont n timp real. Dacmicrile preului determin reducerea sub un anumit nivel a sumei din contul demarj, vi se va solicita alimentarea acestuia cu onduri suplimentare sau reducereaexpunerilor n pia.Sibex este operator de pia autorizat de CNVM prin decizia 356/31.01.2006.

Trading derivatives implies a certain level o risk, thus such operations are notsuitable or all the investors. On the Sibex market, gains or losses are credited ordebited rom the account in real time. I price movements determine the decreaseo the margin account amount under certain level, you will be asked to providesupplementary unds or to reduce market exposure.Sibex is market operator authorized by Romanian National Securities Commissionurther to decision no 356/31.01.2006

Sibex Brosura

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