Article by SSBM Geneva Professor Dario Silić, PhD.
As a Professor of Financial Management at the Swiss School of Business and Management (SSBM Geneva), I recently had the opportunity to visit the Budapest Stock Exchange (BSE), one of Central Europe’s most important financial institutions and a key driver of capital market development in the region.
The Budapest Stock Exchange has a rich history dating back to 1864 and continues to evolve as a modern marketplace that supports transparency, corporate governance, financial inclusion, and sustainable economic development. Its commitment to innovation and the advancement of capital markets reflects the broader transformation taking place across the European financial sector.
For students and professionals in finance, visits such as these provide valuable insights that go beyond textbooks. Understanding how financial markets operate in practice helps bridge the gap between academic theory and real-world decision-making.
Today, the exchange lists approximately 155–156 issuers, including equities, bonds, ETFs, and structured products. The total market capitalization of companies listed on the Budapest Stock Exchange recently exceeded €72 billion, reaching a historic high in 2026. The benchmark BUX Index delivered exceptional performance, rising approximately 40% during 2025, making it one of the strongest-performing indices in Central and Eastern Europe. The exchange’s largest listed company is OTP Bank, with a market capitalization exceeding USD 32 billion, followed by MOL Group, one of the leading integrated energy companies in Central Europe. Average daily equity market turnover exceeded HUF 18.7 billion in early 2025, representing growth of more than 60% year-on-year, reflecting increasing investor activity and market liquidity. The Budapest Stock Exchange is considered one of the most important capital markets in Central and Eastern Europe and operates on the internationally recognized Xetra trading platform, used by major European exchanges.
At SSBM Geneva, we emphasize the importance of combining academic excellence with practical exposure to global business and financial ecosystems. Experiencing first-hand how financial institutions operate strengthens our ability to prepare future leaders for an increasingly interconnected and dynamic financial world.
I would like to thank the Budapest Stock Exchange and the broader Hungarian financial community for their contribution to the development of Central European capital markets. Such institutions continue to play a crucial role in fostering entrepreneurship, attracting investment, and supporting sustainable economic growth.
Financial education becomes most meaningful when theory meets practice.