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Retail

Trade fungible commodities on the Retail Market trading floors (Spot), such as:

natural gas, electricity, gasoline, diesel and other fuels, CO2 emission certificates, construction materials, food products, and more.

1. Access to the Retail Market

Access to the Retail Market is permitted to shareholder members, affiliated members, and commodity brokerage firms.
Affiliated members are companies that acquire trading rights by meeting the conditions set by BRM’s Board of Directors, as provided in the Affiliated Member Statute.
Commodity brokerage firms are BRM shareholder members or affiliated members whose object of activity is the provision of brokerage services.

Register as an Affiliated Member, thus becoming your own broker!

  • Consult the affiliated member statute
  • Complete the affiliated member application and its annex
  • Conclude a collaboration agreement with BRM
  • Compile the affiliation file containing the following documents:
    • Certificate of incorporation issued by the National Trade Register Office, in original or copy, no more than 90 days prior to the submission date;
    • copy of the Tax Registration Certificate;
    • copy of the latest financial statements;
    • copy of the document certifying your right to offer the products you provide (producer certificate, distribution authorization, supply licenses, fiscal warehouse certificates, etc.)
  • Submit the affiliation file to BRM, in original or via email. Following its validation, an invoice will be issued representing the annual BRM affiliation fee for trading services on the Retail Market. The Romanian Commodities Exchange will send you the collaboration (affiliation) agreement, a document certifying your company’s status and acquired rights, which will be signed annually after payment of the membership fee.

The Retail Market Regulations (Spot), administered by BRM, include rules on the organization and conduct of transactions under Law 357/2005 on commodity exchanges. Depending on the assets (commodities), transactions are carried out on specialized trading floors, for which a specific working procedure is defined.

2. Organization of the Retail Market

3. Issuing trading orders

Register your own sell or buy offers

  • Download Initiator Order→ Orders may be initiated online based on the user rights for the electronic trading platform, obtained after concluding the BRM affiliated member agreement.
  • Complete the initiator order according to your specifications and then submit it to BRM

or

Respond to an offer already existing in the market

  • Download a Counter Order for the Initiator Order you wish to participate in → Participation in the trading sessions for assets scheduled on the electronic trading platform is based on the user account. The publication of orders in the market is conditional upon posting the exchange guarantee specified in the respective initiator order.
  • Complete the Counter Order and submit it to BRM together with the documents requested in the initiator order (specific to ordering clients that have the status of Contracting Authorities or Contracting Entities)

4. Scheduling assets for trading

Assets are scheduled for trading within a maximum of 7 days from the date of validation of the issued initiator orders.

Before the trading session:

  • BRM publishes the Initiator Order
  • Counter Orders are received and validated

Trading of the assets is carried out only under the conditions set out in the Initiator Orders. Any proposal to amend them must be submitted in advance, in compliance with the means and deadlines provided in the Trading Procedure applicable to the trading floor on which the auction is conducted. Amendments made after these deadlines result in rescheduling the trading of the respective assets.

5. Conduct of the trading session

The documents submitted according to the asset specifications are reviewed for admission to trading.

Within transactions carried out on the electronic platform, during the session, the price may be improved, the quantity modified, and the attribute changed.

6. Concluding commitments according to the trading session

Closing the session, drafting the Trading Report, and signing the Exchange Contract between BRM, the selling broker, and the buying broker.

The Trading Report highlights all stages of the session and their elements.

Signing the Exchange Contract represents the parties’ agreement for the conclusion and performance of the sale and purchase contract concluded on its basis.

7. Refund of the Exchange Guarantee (participation)

This is carried out based on filing/sending to BRM’s headquarters a request for refund of the guarantee – template Guarantee Refund Request.

The Exchange Guarantee may be kept in the guarantee account for participation in other trading procedures scheduled at BRM.

Trade! Link to the Electronic Trading Platform – Retail Market