The Romanian CSD launches the turnaround settlement service

The Romanian CSD launches the turnaround settlement service

14/03/2012

Starting today, 14th of March 2012, Depozitarul Central will provide its clients with turnaround capabilities. This service delivers substantial efficiencies to the market players by creating further opportunities for non-resident investors, with an easier access to Romanian financial instruments, including those which are subject to public offerings.

The turnaround facilities will provide an optimal tool for settling OTC transactions back to back to a Bucharest Stock Exchange trade.

It is now easier to access domestic financial instruments, allowing international market players to expand their global business with the Romanian securities.

"We are delighted to be able to offer the settlement of turnaround trades starting with the first public offering this year on the Bucharest Stock Exchange. We would like to thank the National Securities Commission and the Central Bank of Romania for the swift approval of Depozitarul Central's regulations supporting this service. Bucharest can become a regional financial centre and all our efforts were and will be focused in transforming this vision into reality. We are confident that by working together with market institutions and the authorities we will be able to achieve this ambitious objective", said Adriana Tanasoiu – CEO – Depozitarul Central.
 
"The launch of the turnaround settlement service by the Romanian CSD will add significant value to the new infrastructure improvements delivered by the Bucharest Stock Exchange Group in recent years (omnibus accounts, short selling, etc.), striving to be fully aligned to European industry standards and paving the way to increased market accessibility – an important step in increasing liquidity” said Alin Barbu - Deputy General Manager - Bucharest Stock Exchange.