AcasăEurope NewsHead of Bucharest Stock Exchange Hanga says establishment of Central Counterparty to...

Head of Bucharest Stock Exchange Hanga says establishment of Central Counterparty to be postponed again

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The Central Counterparty is one of the pillars of the stock exchange’s development, but we are moving very quickly towards a new postponement of its launch, and the target will be for it to be authorized by the middle of next year, head of the Bucharest Stock Exchange, Radu Hanga, informs on Tuesday, according to Agerpres.

„It is one of the pillars of the development of the stock exchange. We do not fully depend on the Central Counterparty. We want it to happen and we are 100pct committed to this project. The calendar that we updated at the beginning of the year had considered the end of this year but we are heading very fast towards another postponement. Normally, the target will be the middle of next year to have the Central Counterparty authorized and by the end of next year to have the derivatives market operational,” explained Hanga at the conference „ZF Capital Market 2022 – Bucharest Stock Exchange, the growth opportunities that they open after the crisis has passed.”

He mentioned that for BVB the Central Counterparty is important from two perspectives: because it „opens the door” to the derivatives market and because it provided a connection with the energy market.

„That is, it is a piece of infrastructure that will give us, on the one hand, the opportunity to develop financial products based on energy on the stock market, and on the other hand, it will also serve the energy market, which is certainly much bigger than the stock market,” the BVB head pointed out.

The Central Counterparty is established in the form of a joint-stock company, issuing registered shares, authorized and supervised by the ASF, which intervenes between counterparties to contracts traded on one or more financial markets, thus becoming a buyer for each seller and a seller for each buyer.

Agerpres

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