BRM launches the service of Central Counterpart on the natural gas market

The Romanian Stock Exchange for Goods ( Bursa Romana de Marfuri - BRM) launches in July the market of standardized goods on medium and long term for the trading of natural gas, as BRM insures the services of Central Counterpart according to a press release.

‘To meet the needs of the participants on the natural gas market and with the purpose of sustainable development of the market in general, BRM launches starting with July 2019 the service of Central Counterpart for one week and one month tradings.Starting with September, the contracts with long maturity will be included in the compensation- payment system. Until the end of the year, there will be a fund for supplementary clearing dedicated to the application’ the BRM representative says.

The Central Counterpart has a significant role in the process of managing risks brought about the payment of tradings, representing a necessary step in the process of development of the markets with standard contracts with delivery administered by BRM and harmonization with EU demands.

On 27 June, BRM organized a public meeting with all participants on the market and on this occasion they presented the functioning regulations for the Central counterpart, the mechanisms and the participating contracts on the market.

Starting with 1 July, BRM offers a testing platform for the participants on the market and will test the application together with those interested. In parallel with this, there is the signing of the contracts with the participants on the market, activity which has already started, and it is estimated the second part of July there will start the tradings in the real on this market.

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