On the BRM-OTF, only emission certificates defined in point 11 of Section C – Annex 1 to Law 126/2018 are traded as financial instruments, which consist of: “any units recognized as being compliant with the requirements of Government Decision no. 780/2006 on establishing the scheme for trading greenhouse gas emission allowances, with subsequent amendments and additions, and of Government Emergency Ordinance no. 115/2011 on establishing the institutional framework and authorizing the Government, through the Ministry of Public Finance, to auction greenhouse gas emission allowances allocated to Romania at the European Union level, approved by Law no. 163/2012, with subsequent amendments and additions”.