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The Stock Exchange is a barometer of economic and financial life in any country, an indicator of world business and economic prospects. Its movement is reflected in the stock market indices that express the overall performance of the stock market or just a certain sector, and offers the investors the base of their investment decision on the markets. Therefore, the authors have proposed in this paper to summarize the results of research in order to highlight the most significant issues of the risk management on the Romanian capital market and to provide solutions to them.

The first part highlights the role of stock market indexes in describing the state of the capital market, as well as the difficulties arising on their representation in the current financial and economic crisis. In order to reduce the risk of erroneous information to investors, the authors propose a composite index that summarizes the information from other indexes on the capital market in Romania. Finally, using the Risk Grades method, the authors make a comparative analysis of the risks on the Romanian capital market with those in the Czech Republic, Poland and USA capital markets.

The second part outlines the main classes of risks that arise in the settlement of exchange transactions that dominate in the risk hierarchy of the stock operational management. After highlighting some international regulations on reducing the risk of stock trading settlement, the authors develop a broad range of solutions for reducing these risks on the Bucharest Stock Exchange.

© 2012 Andreica et al., licensee InTech. This is an open access chapter distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/3.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. © 2012 Andreica et al., licensee InTech. This is a paper distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/3.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
