The President of the Executive Committee of the Energy Exchange of Ukraine, Oleksii Dubovskyi, and the President of the Romanian Commodity Exchange, Gabriel Purice, signed a new Memorandum of Understanding (MoU) detailing the commitment of both entities to evaluate and capitalize on opportunities in the field of the energy market and energy exchange, focusing on natural gas, electricity and commodities such as agricultural products, timber and petroleum products. The main objective of the MoU is to improve interconnectivity and align trading and clearing systems, thereby facilitating efficient cross-border operations between Ukraine and Romania.
At the heart of this collaboration is a common aspiration to develop regional trading and cross-border operations in the Ukrainian and Romanian markets. The MoU strongly emphasizes the pivotal role of interconnected trading and clearing systems in enhancing cooperation.
Highlighting the signing of the memorandum, Mr. Oleksii Dubovskyi emphasized the importance of establishing a harmonized post-trade infrastructure and introducing innovative products to the market. These essential steps are designed to reinvigorate trade within the dynamics of the Eastern European regional market.
“Mr. Gabriel Purice expressed confidence that the memorandum represents a new beginning in cooperation between regional exchanges and opens the opportunity to develop new operational models adapted to regional needs, by adding new value-added products, such as spreads, regional quotations, harmonization of practices of business and improving physical interconnection,” BRM officials say.
UEEX is the main Ukrainian exchange that organizes and conducts transactions in energy and other commodity markets. Since its establishment in 2010, UEEX has been involved in trading in energy markets, including natural gas, oil, petroleum products, liquefied gas, coal and electricity. UEEX operates in the electricity market segment for bilateral contracts, serves as a trading platform operator in the domestic gas market and the day-ahead market, organizes auctions for the purchase and sale of natural gas in the medium and long-term markets and is the main source of market prices for energy resources in Ukraine.
The collaboration between UEEX and BRM paves the way for improved cross-border energy exchange operations, promoting joint growth.