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The Central Depository of the Sibiu Exchange (SIBEX) has received authorization from the National Bank of Romania (BNR) to launch the spot market, according to SIBEX Spokesman Decebal Todarita.
"The next step is to obtain the license to operate from the National Securities Commission (CNVM). We already submitted our application for it on Friday, 3 July," Todarita told BURSA, stressing that CNVM had a legal obligation to provide an answer in 30 days.
The SIBEX Central Depository was established in early March and has a share capital of 12 million RON. SIBEX holds 58% of the share capital, whereas financial investment firms (SIFs) and brokerage firms hold the remaining 42%.
The future trading platform, Global Vision, is implemented by the British company Trayport Ltd. with whom the Sibiu Exchange has signed an initial agreement for five years. The platform is also used by reputed financial institutions such as J.P. Morgan, Deutsche Bank and Merrill Lynch.
The Global Vision platform will support trading in derivatives, stock, governmental securities and carbon dioxide emission certificates. The Sibiu Exchange is also planning to introduce derivatives based on the Dow Jones, gold and oil with margins denominated in USD.
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