Markets managed by the Romanian Commodities Exchange

The Wholesale Natural Gas Market
GAS SPOT

Centralized platform for standardized short-term products with immediate delivery, in accordance with ANRE regulations, operating non-stop, 24/7. Spot clearing and settlement are managed by the Romanian Commodities Exchange as the Counterparty.

Tradable products on the SPOT Market include natural gas with delivery:

  • For the next day (Day Ahead);
  • For the same day (Within Day).
GAS FORWARD

Standardized products with medium and long-term delivery for physical contracts.
Tradable products on the Gas Forward Market include natural gas delivered in various intervals: week, month, quarter, semester, winter season, summer season, gas year, calendar year.
The trading schedule is from Monday to Friday, between 10:00 am – 03:00 pm, except for legally declared non-working days.
Products can be traded through Central Counterparty or on the basis of standard contracts. Standard contracts or other OTC transactions can be transferred to a Central Counterparty (CCP) regime.

GAS FORWARD CCP

Standardized products with medium and long-term maturities that involve a Clearing House.
Tradable products on the Gas Forward CCP Market include natural gas delivered in various intervals: week, month, quarter, semester, winter season, summer season, gas year, calendar year.
The trading schedule is from Monday to Friday, between 10:00 am – 03:00 pm, except for legally declared non-working days.
The clearing and settlement process is managed by the Romanian Commodities Exchange as the Counterparty.

GAS ECHILIBRARE

A market operated in partnership with S.N.T.G.N. Transgaz, with the Romanian Commodities Exchange designated by the OTS as the Counterparty. The purpose of this market is to facilitate the trading of quantities of natural gas resulting from the initial daily balance, allowing for trading within the daily imbalance limit communicated by the OTS for gas day D-2.

GAS FUTURES

Derivative products with standardized medium and long-term physical delivery.
Tradable products on the Futures Market include natural gas delivered in various intervals: week, month, quarter, semester, winter season, summer season, gas year, calendar year.
The trading schedule is from Monday to Friday, between 10:00 am – 03:00 pm, except for legally declared non-working days.

Auction Market
Auctions

The Romanian Commodities Exchange facilitates the buying and selling of goods, products, space rentals, and waste disposal. The auction procedures are open to private businesses, public authorities, and individuals. Transactions can take place electronically or in a physical trading ring. The advantages of this market include a large number of participants, transparency, electronic negotiation, and reduced timelines. BRM also provides consultancy services and assistance in organizing procurement and sales procedures.

The Wholesale Electricity Market
ELECTRICITY PZU

A centralized platform for standardized products with short terms and immediate delivery, operating 24/7 in accordance with ANRE regulations. Spot clearing and settlement are managed by the Romanian Commodities Exchange as the Counterparty.
After obtaining the status of an OPEED (Operator of the Designated Electricity Market), through the collaboration agreement signed with Nord Pool A.S., the Romanian Commodities Exchange (BRM) is in the process of developing and launching the coupled markets PZU (Day-Ahead Market) and PI (Intraday Market).

ELECTRICITY PI

Centralized platform for standardized products with short terms and immediate delivery, operating around the clock, 24/7, in accordance with ANRE regulations. Spot clearing and settlement are managed by the Romanian Commodities Exchange as the Counterparty.
Following the acquisition of the OPEED (Designated Electricity Market Operator) status, through the collaboration agreement signed with Nord Pool A.S., the Romanian Commodities Exchange (BRM) is in the process of developing and launching the coupled markets PZU (Day-Ahead Market) and PI (Intraday Market).”

ELECTRICITY PMC

A market intended for Large Consumers that enables the negotiation and trading of bilateral electricity supply contracts with a delivery duration greater than or equal to one month, in accordance with EU Regulation No. 943/2019 on the internal electricity market.
Tradable products on the LCG Market include electricity delivered in various intervals: month, quarter, semester, winter season, summer season, gas year, calendar year.
The trading schedule is from Monday to Friday, between 10:00 am – 03:00 pm, except for legally declared non-working days.

ELECTRICITY FORWARD

Medium and long-term contracts settled through physical delivery.
Tradable products on the Energy Forward Market include electricity delivered in various intervals: month, quarter, semester, winter season, summer season, gas year, calendar year.
The trading schedule is from Monday to Friday, between 10:00 am – 03:00 pm, except for legally declared non-working days.

 

The Capital Market
ssif platform

 

A financial investment services company, based on Law 297/2004 regarding the capital market, authorized to perform the following investment services and activities:

  1. Receiving and transmitting orders for one or more financial instruments.
  2. Executing orders on behalf of clients.
  3. Proprietary trading.
  4. Portfolio management.
  5. Investment advice.
  6. Underwriting financial instruments and/or placing financial instruments based on a firm commitment.
  7. Placing financial instruments without a firm commitment.
  8. Operating an alternative trading system.
brm otf

 

At BRM-OTF, exclusively trade financial instruments represented by emission certificates, as defined in point 11 of Section C of Annex 1 of Law 126/2018. These emission certificates refer to “any units recognized as compliant with the requirements of Government Decision no. 780/2006 on establishing the greenhouse gas emissions certificate trading scheme, with subsequent amendments and supplements, and Government Emergency Ordinance no. 115/2011 on establishing the institutional framework and authorization of the Government, through the Ministry of Public Finance, to auction greenhouse gas emission certificates allocated to Romania at the European Union level, approved by Law no. 163/2012, with subsequent amendments and supplements.”

 

The Retail Market
The Natural Gas Ring

Dedicated auctions for the purchase of natural gas, procedures initiated by end-user clients. The assets traded within this ring are exclusively natural gas used by clients initiating auctions for non-commercial purposes, i.e., for their own consumption.

The Electricity Ring

Dedicated auctions for the purchase of electricity, procedures initiated by end-user clients. The assets traded within this ring are exclusively electricity used by clients initiating auctions for non-commercial purposes, i.e., for their own consumption.

The Petroleum Products Ring

Auctions for the purchase or sale of petroleum products, including fuels (bulk or vouchers/value cards) for vehicle fleets, as well as products used for heating or for the operation of various industrial facilities.

The Construction Materials Ring

Auctions for the purchase or sale of fungible construction materials used in road construction (roads, bridges), civil construction (civil and industrial buildings), or special construction (dams, communication systems, etc.).

The CO₂ Emission Certificates Ring

Auctions for the purchase, sale, or exchange (SWAP) of greenhouse gas emission certificates, such as EUA or CER types.

The Fruits and Vegetables Ring

Auctions for the purchase or sale of vegetable and fruit products, whether fresh or preserved.

The General Ring for Commodity Products

Auctions for the purchase or sale of any fungible product whose trading frequency does not justify categorization into a specific trading ring, such as electricity, construction materials, grains, or natural gas.

The Grain Ring

Auctions for the purchase or sale of fungible products originating from the agricultural sector.

According to Government Ordinance No. 7/2009, the collaboration between BRM, CEC Bank, and the Rural Credit Guarantee Fund (FGCR) introduced a new deposit certificate guarantee scheme for consumption seeds.

These certificates can also be traded in the Grain Trading Ring, contributing to the development of a market for deposit certificates intended for consumption seeds.