Budapest Stock Exchange

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The Budapest Stock Exchange in Hungary is an electronic trading exchange listing mostly Hungarian equities, bonds, currencies and derivatives. A year after their acquisition by an Austrian-based exchange operator, the BSE and the Budapest Commodities Exchange merged in 2005 bringing all equities, bonds and derivatives trading to the BSE. 
The Budapest Stock Exchange was ranked 39th among derivatives exchange by volume in 2021, with 8 million contracts traded, up 26.5 percent from the previous year, according to the annual volume survey published by the Futures Industry Association (FIA).
== History ==
The Budapest Stock Exchange (BSE) originated as the Pest Commodities and Stock Exchange in 1864 but closed following the start of World War II. It re-opened in June 1990 with an open outcry system after the collapse of Hungary's communist government and was followed a month later by the Budapest Commodities Exchange (BCE), which initially listed grain futures. 
The BSE had listed six shares by the end of its first year of trading while the BCE added livestock futures in 1991 and currency contracts in 1993. From 1995 until 1998 the BSE traded securities partly by open outcry but after introducing the MultiMarket Trading System (MMTS) in 1998 the exchange closed its physical trading floor in 1999, followed a year later by the BCE.
== Consolidation ==
In 2004 a majority stake in BSE was acquired by a group of Austrian investors headed by Wiener Börse, owner of the Vienna Stock Exchange, and a group of banks led by Österreichische Kontrollbank AG. A year later the group merged its newly acquired Budapest Commodities Exchange with the BSE, introducing derivatives trading to the BSE. In late 2008 Wiener Börse raised its stake in the BSE an additional 25% for a total stake of 37.7% while the Austrian group's total stake in the BSE now stands at 68.8%. Wiener Börse also owns large majority stakes in Slovenia's Ljubljana Stock Exchange and the Prague Stock Exchange and recently announced that it would introduce a single trading system linking them with the BSE by 2010 or 2011.
== Key People ==
Richárd Végh is the CEO of the BSE. He joined the board of directors in December of 2015 and was then named as CEO in 2016, after having previously worked at the exchange earlier in his career. He served as the chairman of the board from 2017 to 2019, while also continuing to serve as CEO. 
File:Végh Richárd SBT 2617 negyzet copy.jpg|Richárd Végh, CEO
File:Máté-Tóth István SBT 2675 negyzet copy.jpg|István Máté-Tóth, Deputy CEO
File:Sámel Katalin SBT 1952 negyzet copy.jpg|Katalin Sámel, Director, Finance Division
File:Nagy Péter Gábor SBT 2232 negyzet copy.jpg|Péter Gábor Nagy, Director, Sales, Marketing and Issuers Acquisitions Division
File:Varga-Balázs Attila SBT 2861 negyzet copy.jpg|Attila Varga-Balázs, Director, Trading, Business Development and Listing Division
File:Visontai Balázs SBT 3001 negyzet copy.jpg|Balázs Visontai, Director, IT Development and Operations 
File:Körmöczi Dániel SBT 2366 negyzet copy.jpg|Dániel Körmöczi, Advisor to the CEO and Investor relations officer
File:Incze Tünde SBT 2037 negyzet copy.jpg|Tünde Incze, Head of Secretariat
File:Hevér Miklós SBT 2483 negyzet copy.jpg|Miklós Hevér, Head of IT Security
György Mohai had twice served as the BSE's acting CEO: in 2006 prior to the appointment of Árpád Pál and for three months in 2008 prior to his own permanent appointment to the top job in June. Mohai had previously spent four years as the BSE's deputy CEO and the previous two years (2002-2004) as an advisor to the exchange. Prior to that Mohai worked for ten years in the securities industry and spent 13 years as an academic and research fellow, including at Budapest's Corvinus University. He is a board member of the Central Clearing House and Depository and the Investor Protection Fund. Mohai resigned as BSE CEO in April of 2012
== Key Products ==
The BSE has two main domestic equity indexes: the official equity BUX, the benchmark for the Hungarian share market, and the small-cap and mid-cap focused BUMIX. The BUX consists of between 12 and 25 stocks - revised twice per year - that satisfy several exchange requirements based on size and liquidity. The exchange also owns and calculates the Central European Blue Chip Share Index (CETOP20) and the Daiwa-MKB Treasury Bill Yield Index (DWIX).
==Volumes==
Year	Total Annual Volume*	Percent Change
2021	8,071,839 	26.55
2020	6,378,441 	(-) 2.16
2019	6,519,033 	(-) 2.76
2018	6,703,976 	(-) 4.52%
2017	7,021,245 	11.1%
== References ==
Category:Exchanges
Category:Stock Exchanges
Category:European Exchanges
Category:Hungarian Exchanges