8 February 2022
Agreement between Athens Exchange Group (ATHEX Group) and the Romanian Commodities Exchange (BRM) for the provision of post-trading services

ATHEX Group and the Romanian Commodities Exchange (BRM) signed an agreement for the provision of post trading services to the Romanian Natural Gas Futures traded on BRM market.

The scope of this agreement comprises the support of ATHEX Group to BRM regarding BRM's endeavors for the development of Futures products on its Gas Day Ahead Spot Market Index and the provision of clearing, settlement, and risk management of transactions on the said products by ATHEXClear under its capacity as an EMIR authorized CCP under EU legislation. Euro will be the currency for the settlement of the transactions.

ATHEX CEO, Mr. Socrates Lazaridis, said "the effort to expand the cooperation in the wider region of Central and Eastern Europe and especially in the provision of post-trading services as an EMIR authorized CCP under EU legislation is realized via our cooperation with BRM.  The use of the ATHEXClear license for Natural Gas and Electricity futures creates opportunities for enhanced cross-border trading in our region".

BRM CEO, Mr. Gabriel Purice, said "BRM believes the introduction of the Futures product with financial settlement will contribute to the growth of Romania's Gas Market attractiveness by offering new ways to connect with other European markets and that those instruments will be very useful to the market participants, especially under conditions of volatility".

In the period immediately following, BRM and ATHEX Group will closely cooperate to implement the complex project regarding the products & model design, the deployment assessment and implementation, and the necessary market and awareness activities.