Derivatives market in Romania

UniCredit Bank S.A.
Fri, 20/07/2018

Bucharest Stock Exchange looks to restart its derivatives market and to implement CCP services.                                                                                                                         


The general shareholders’ meetings season is probably the most interesting time of the year, not just because investors informed of the companies’ performances and dividends, but also because the issuers disclose some of their plans and projects.

That was the case this year with the Bucharest Stock Exchange (BVB), the sole regulated market operator in Romania. In a document presented to its shareholders, BVB announced that it aims to expand the range of tools and mechanisms serving investors who look to diversify their investment strategies by listing derivatives products. The objective of the BVB is that, upon launching the derivatives market, futures contracts will be available for trading - especially those with underlying assets traded on the BVB spot market.

BVB officials believe that the restart and the success of the derivatives market is dependent on the existence of the clearing-settlement services provided by a functional Central Counterparty (CCP) at the standards imposed by the European Union. That is why the BVB will direct its efforts to select the CCP solution that will also take into account its potential to provide services for the spot market administered by BVB, at reasonable and optimal costs for the participants.

In this respect, the process of analysing the solutions for the implementation of clearing services through a CCP has been resumed and the BVB will try to identify during the current year the “most feasible, safest and fastest solution for implementing the specific services” that will most effectively serve the participants of the spot and the future derivatives market.


Marin Stoica
Senior Account Manager
Global Securities Services Romania