ATHEX Group and the Romanian Commodities Exchange (BRM) signed an agreement for the provision of post trading services to the Romanian Natural Gas Futures traded on BRM market.
The scope of this agreement comprises the support of ATHEX Group to BRM regarding BRM’s endeavors for the development of Futures products on its Gas Day Ahead Spot Market Index and the provision of clearing, settlement, and risk management of transactions on the said products by ATHEXClear under its capacity as an EMIR authorized CCP under EU legislation. Euro will be the currency for the settlement of the transactions.
ATHEX CEO, Mr. Socrates Lazaridis, said “the effort to expand the cooperation in the wider region of Central and Eastern Europe and especially in the provision of post-trading services as an EMIR authorized CCP under EU legislation is realized via our cooperation with BRM. The use of the ATHEXClear license for Natural Gas and Electricity futures creates opportunities for enhanced cross-border trading in our region“.
BRM CEO, Mr. Gabriel Purice, said “BRM believes the introduction of the Futures product with financial settlement will contribute to the growth of Romania’s Gas Market attractiveness by offering new ways to connect with other European markets and that those instruments will be very useful to the market participants, especially under conditions of volatility“.
In the period immediately following, BRM and ATHEX Group will closely cooperate to implement the complex project regarding the products & model design, the deployment assessment and implementation, and the necessary market and awareness activities.
About the Athens Exchange Group
The Athens Stock Exchange was established in 1876 and has consistently participated in the financial and business development of the capital markets. The Athex Group is also part of the SSE Initiative and continues to build capacity around sustainability issues, promote long-term sustainable investment in the capital markets. The group avails the expertise, the IT infrastructure and offering the full suite of trading and post-trading services through its EMIR and CSDR regulated subsidiaries ATHEX Clear and ATEHX CSD respectively. It also provides systems, operations and services to the capital market ecosystem, other market operators and third parties
Summary information on the market and the Athens Exchange Group can be found here.
The Bursa Romana de Marfuri (BRM) is a legal entity that carries out activities for the organization and conduct of exchange trading in the natural gas market of Romania. BRM operates the Balancing Market on behalf of the Romanian TSO (Transgaz S.A.), concluding clearing transactions for the Romanian SPOT, Forward and recently Future Markets, through its department BRM CCP. The Romanian Commodities Exchange is an operating commodities exchange founded in 1992, with growing business activity in the field of commodities and a diversified range of products developed on the energy market (natural gas, power and petroleum products, as well as agricultural products, cereals and CO2 certificates).
Summary information on the market and the Bursa Romana de Marfuri can be found here