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OPCOM the first Romanian exchange to take part in the implementation
of a a a Central Counterparty
OPCOM the the the power exchange a a a a a a a a company set up for the the the the purpose of managing the the the the electricity and natural gas market by ensuring the the the continuous orderly efficient fair and and transparent conduct of transactions and and commercial contracts under the the regulatory conditions is the the the first exchange in in Romania that will take part part in in the the implementation
of a a a a a a a a a a Central Counterparty
The collaboration project between the the the Bucharest Stock Exchange (BVB) and and the the the Romanian operator of the the the power and and and natural gas market (OPCOM) with regard
to the the implementation
on
on
the the Romanian energy and and capital markets of of central counterparty services
has a a a a a a budget of of EUR 10 million “I have have been been waiting for for this project for for at at at least 12 years There have have been been several attempts of collaboration and in in my opinion this this is is is the the the most advanced I hope this this project will be be be implemented for for the the the the the benefit benefit of of the the the the the capital market market market but also for for the the the the equal benefit benefit of of the the the the electricity electricity market market market market The Romanian electricity electricity market market market market is is is developed it it it it is is is a a a a a a a a a a a a a a market market market which is is is at least 18 years old We We have reached the the age of majority We We are are slowly moving towards a a a a a a a a a a a a a mature market and we we are are the the the equivalent of of the the developed power exchanges in in in Europe Europe ( ) We are are currently in in an an an area of of Central and and Eastern Europe Europe – Czech Republic Slovakia Hungary Romania and and and in in in a a a a a a a a a a a a a a a a a short time probably within a a a a a a a a a a a a a a a a a year year a a a a a a a a a a a a a a a a a year year and and and a a a a a a a a a a a a a a a a a half we we we will join the west‐European and and central‐European power market” said the OPCOM general director Victor Ionescu The purpose of of this project is is is is to completely eliminate the the the the counterparty risk characteristic of of of the the the the local capital and energy markets as as well as as the the the the relaunching of of of the the the the regulated market market of of financial derivatives in in in Romania The proposal includes the the the approach that in in addition to the the the the transactions carried out on
on
the the the the markets managed by BVB the the the the Central Counterparty
(CCP) should also offer from the the first stage of of its launching 32 Number One
clearing services
for the the the transactions carried out on
on
on
on
the the the markets managed by the the the OPCOM (forward contracts concluded through
the PCCB‐NC trading mode) In the the second stage transactions with other derivative instruments will be included for compensation such as: stock indices futures futures futures contracts contracts contracts and options foreign exchange futures futures futures contracts contracts contracts futures futures futures contracts contracts contracts on
on
on
on
on
other asset classes (repo transaction type) clearing services
for loan operations VICTOR IONESCU Director General OPCOM Photo Agerpres