The Romanian Commodity Exchange (BRM) and the Athens Exchange Group (ATHEX Group) have signed an agreement for the provision of post-trade services on the Romanian natural gas futures market, traded through the BRM platform, according to a press release.

“The purpose of this agreement includes ATHEX’s support for the Romanian Commodity Exchange, in relation to the development of futures contracts with assets supporting the natural gas spot market index operated by BRM and the provision of central counterparty services for settlement and transaction risk management,” shows in the BRM release.

In order to integrate into the European trading infrastructure specific to energy financial markets and to create the premises for a sustainable liquidity, the settlement of transactions with these futures contracts will be done in euro.

“BRM considers that the introduction of financially settled futures products will contribute to increasing the attractiveness of the Romanian natural gas market, offering new means of connection to other European markets, and these tools will be very useful for market participants, especially in volatility.” said BRM President Gabriel Purice.

“In the near future, BRM and the ATHEX group will work closely together to implement this complex project in terms of products, model design, evaluation and implementation, and other elements necessary for advertising and marketing,” said BRM officials.