The Athens Stock Exchange Group (ATHEX Group) and the Romanian Commodity Exchange (BRM) have signed an agreement for the provision of post-trading services to Romanian SMEs in Natural Gas traded on the BRM.
The scope of this agreement includes the support of the ATEEX Group to the BRM in the effort and planning of the second for the introduction and development of derivatives on the index of the spot market of the Day Ahead as well as the provision of liquidation, management services and settlement of those transactions by ATHEXClear as a licensed CCP under the European EMIR Regulation. The euro will be the settlement currency.
THE CEO of the Athens Stock Exchange Group, Mr. Socrates Lazaridisstated “the effort to expand the cooperation in the wider region of Central and Eastern Europe and especially in the provision of post-transaction services as a Licensed Central Contractor under the European EMIR Regulation is successful in our cooperation with the BRM. The use of the ATHEXC license Futures for Gas and Electricity creates opportunities to strengthen cross-border trade in the region ”
For his part BRM CEO Gabriel Purice“The BRM believes that the introduction of CFPs will contribute to the development and attraction of the Romanian Gas Market by offering new ways to connect with other European markets as well as products that will be extremely useful. for market members, especially in times of high volatility ”
In the following period, BRM and ATEEX Group will work closely together for the implementation of the complex project concerning the design of products and models of negotiation, liquidation and settlement, claims analysis and infrastructure adaptation and project information and promotion activities.
Source: Capital
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