The Bucharest Stock Exchange (BVB) set up, along with eight other shareholders, the company for the local central counterparty – CCP.RO Bucharest, an entity that was registered with the National Trade Register Office on Monday, after the shareholders approved the participation in its share capital with the total amount of 79.8 million lei (16.8 million euro).
According to a statement from BVB, CCP.RO will host the infrastructure that will allow the derivatives market to relaunch in Romania and will provide new mechanisms for mitigating and transferring risks for the markets operated by BVB and OPCOM, contributing to the growth of confidence and activity in these markets. The first transactions would take place in 16 months from the start of the new company, according to Agerpres.
BVB is a majority shareholder with 59.52% of the shares, following a contribution of 47.5 million lei (10 million euro), the largest investment made by BVB in a single project.
The operator of the Electricity and Natural Gas Market OPCOM holds 19.06% of the share capital of CCP.RO. Other shareholders within the CCP.RO are Enel Romania, Banca Transilvania, Tinmar Energy, Banat-Crişana Financial Investment Company, Transilvania Financial Investment Company, Muntenia Financial Investment Company and SSIF BRK Financial Group, each with individual holdings below 10%.