The Bucharest Clearing House (CCB) hereby informs that as of January 21, 2009 the admission fee normally charged for obtaining the clearing member status (RON 70,000 for individual clearing members and RON 200,000 for general clearing members) is suspended until the end of 2009. (1 EUR= RON 4.2971)
This measure was adopted by CCB shareholders during the General Shareholders Meeting that took place on January 12, 2009 and applies to all the intermediaries requesting the clearing member status for the first time.
Since its early days, the Bucharest Clearing House has been preoccupied with attracting new participants to the Clearing-Settlement system as clearing members having the right to trade on the Derivatives Market operated by the Bucharest Stock Exchange (BVB). The recently adopted measure marks the second suspension of the admission fee to the Derivatives Market, following the holiday fee of 2007.
The CCB effort is aimed at expanding the range of products and services offered to BVB intermediaries. To this end, the CCB together with the BVB have designed a special promotion enabling participants to reduce fees related to Spot Market transactions on the basis of transactions closed on the Derivatives Market, as follows:
- the “10%-20%-30% Offer” runs from October 2008 until March 2009 and applies to all intermediaries having a minimum trading activity on the Derivatives Market;
- the “Derivatives Market Maker Offer 20% - 30%” applies to all intermediaries that register as market makers for one financial derivative instrument having currencies as underlying asset;
- the “Derivatives Market Maker Offer 50%” applies to market participants registering as market makers on financial derivatives having indices and BVB-listed single stocks as underlying assets.
For further details regarding the special promotion, click on “New Special Promotions” on the BVB main webpage (www.bvb.ro).
More data regarding the fees applicable to Derivatives Market transactions as well as the levels of unit margins are available via the “Trade Futures on BVB!” section of the BVB webpage, and by following the “Margin and other parameters” link.