* Interview with Mr. Dan Paul, the president of the Romanian Association of Brokers

Dan Paul, the president of the Romanian Association of Brokers, opposes the amendment of the pricing policy of the Bucharest Stock Exchange, as he considers that this policy would only work and attract liquidity in theory.

As a matter of fact, the Association of Brokers, together with six other intermediaries, has asked the BSE to make additions to the agenda of the General Shareholder Meeting of March 13th, 2013, when the pricing policy as well as the amendments to the articles of incorporation will be discussed.

It would seem that on Friday, the directors of the BSE have had an "informal" meeting", to review the request of the Association of Brokers, without inviting Dan Paul, even though he is the Vice-president of the Board of the BSE.

Dan Paul says that he is not at all in a situation of contradiction, by being the vice-president of the BSE and the president of the Association of Brokers, even though he often is at odds with the other directors of the BSE, at the Board meetings.

"I am consistent and what I support at the Association of Brokers and what the Association empowers me to support, I also vote as a policy on the Board of Directors of the Bucharest Stock Exchange. I say what I think and I listen to the voice of the market, and that doesn't mean I am against the other directors of the Stock Exchange, I just explain things from a different angle, that of the brokers", he said.

In the interview presented below, the president of the Association of Brokers discussed the future Unified Financial Supervision Authority, the Central Counterparty, as well as the activity of the BSE over the last year.

Reporter: Lately, there's been a lot of talk about a strategy of the Bucharest Stock Exchange - more listings, more liquidity, more