Romania's Financial Supervisory Authority (ASF) has approved the request filed by the Bucharest Stock Exchange (BVB) for the authorization of a new regulated market for derivatives, Economica.net reported.

The request for authorization of the Central Counterparty Clearing House (CCP) was submitted last year by the BVB management to the Financial Supervisory Authority.

The CCP project, an entity intended to facilitate the relaunch of the derivatives market and the short sales in Romania, was approved by the stock exchange shareholders in November 2019. 

According to the original plan, 2020 should have been the first year of operation of the Central Counterparty, and in the following year, the company should have made a profit. 

"An important element for the Bucharest Stock Exchange and the development of liquidity and the capital market as a whole is the functionality of the Central Counterparties project. In 2023, we made significant progress in the authorization process, and we see this project functional in 2024," said Adrian Tănase, the director general of the BVB.

iulian@romania-insider.com

(Photo source: Inquam Photos/George Calin)