Day 3: Budapest Stock Exchange

Took a short bus ride to the stock exchange, located Ina building similar to those on Embassy row in Washington DC.

We were provided an hour long presentation by Richard Vegh, Director of Business Development.

Richard took us through the history for the exchange. It was originally opened in 1864 to handle the commodity market, however after World War II it was shut down with the community rule in Hungary.

The exchange was reopened in 1990 when he political shifts in Hungary provided the opportunity. In 1998 the exchange went completely to an electronic trading system.

Intersting takeaways were the size of the exchange are very small, there is a 60% foreign investor structure made up of US and UK, and that Richard believes the market is 10 years behind where the US is today.

Headed for the airport, flight to Milan. Ciao!