Mihaly Patai, head of Budapest Stock Exchange, has stepped down from his post, Financial Times reports. The move follows a rift between some market participants and majority stakeholder Wiener Börse over the launch of a new trading system.
The soaring tension amid the group’s Austrian owners and Hungarian dealer-brokers over the cost of the Xetra platform led to Patai’s resignation. The exchange is facing local resistance for setting up a network of central and east European stock exchanges.
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