Bucharest, 21 September 2017. – KELER CCP and the Romanian Commodities Exchange (BRM, Bursa Romana de Marfuri) held a workshop for the Romanian market participants to present the details of the new trading mechanism and the related clearing services for the forthcoming market launch. As it was announced earlier in September the Hungarian clearing service provider completed the IT development and test phase of the project. The go-live of BRM’s gas forward market is scheduled for later this year after receiving the final green light from the respective authorities. Before the go-live, further market tests and workshops are planned to be held.
Cooperation between BRM and KELER CCP was announced in September, 2016 and during this adventurous year, the clearing house assessed the Romanian forward gas market and natural gas platform, to reach out to the participants and built great relationship with the stakeholders. The recent workshop, with the presence of 30 participants from 8 companies including the largest suppliers and traders, was part of the educational joint road show of the clearing house and BRM held by Tamás Horváth, COO of KELER CCP, to transfer knowledge about the new enhanced solution before the forthcoming launch. Amongst many topics, benefits of the guarantee system were mentioned, such as guarantee undertaking through novation, price transparency and non-discriminatory. Furthermore, daily operation, the planned standardized products and the process of financial settlement were also introduced. Nevertheless, BRM presented to the current and future clearing members how trading will be done on its new platform through a demo example.
“In principal, as a clearing house we operate a sophisticated margining mechanism in order to mitigate financial risks. This service will help to get the market closer to EU standards and put Romania on a track to own a highly developed and modern trading environment. Recent initiatives in the Romanian trading system will hopefully serve the best of the market’s needs and our purpose to provide an integrated clearing solution.” – added Károly Mátrai, CEO of KELER CCP.
About KELER CCP:
KELER CCP is the central clearing house for capital and natural gas markets in Hungary. In its capacity as the central counterparty KELER CCP assumes clearing as well as financial and physical settlement of transactions concluded on the capital markets: Budapest Stock Exchange, BÉTa Market and MTS Hungary, and on the natural gas markets: Trading Platform and CEEGEX Central Eastern European Gas Exchange. Further to its central clearing services, as a unique service provider in Europe, KELER CCP provides general clearing membership services for its clients on several energy markets including HUPX Hungarian Power Exchange, EEX, EPEX SPOT, EPEX SPOT Belgium, SEEPEX, PXE and Powernext.