Nine companies in Romania have established the entity which will operate as the local central counterparty. The new legal entity is called CCP.RO Bucharest S.A. and has been registered by the National Trade Register Office on November 4, 2019. Its shareholders approved to participate in the equity of the new company with a total amount of RON 79.8 million (EUR 16.8 million). The Bucharest Stock Exchange is the majority shareholder of the company with 59.52% of the shares and the other shareholders of the CCP.RO are OPCOM, Enel Romania, Banca Transilvania, Tinmar Energy, SIF Banat-Crisana, SIF Transilvania, SIF Muntenia and BRK Financial Group.
CCP.RO is designed to host the infrastructure that will relaunch the derivatives market in Romania and will provide new mechanisms for mitigating and transferring the risks for the markets operated by BVB and OPCOM.
The next major step is to receive the authorization from the Financial Supervisory Authority (ASF) for the CCP.RO to act as a central counterparty in the market.
Impact on investors: CCP.RO will allow the introduction and development of transactions with derivative financial instruments on the Bucharest Stock Exchange. BVB has projected that the first transactions carried out through CCP.RO will take place within 16 months from the establishment of the new company