Commodity exchange supervision
The first commodity exchanges in Romania were founded 135 years ago, following the initiative of the Chamber of Commerce and Industry. The arguments that stood for the need of setting up an exchange, in order to settle the exchange rates, currencies and equity, based on the bid and ask, were included in a memo submitted to the Ministry of Agriculture, Commerce and Public Works, which described the latest evolution of the public equity trade.
After almost one and a half century, the Chamber of Commerce and Industry of Romania becomes the “supervisor” of commodity exchanges of Romania, under the provisions of Law no 357/2005 and by Regulation No. 25 of September 30, 2014 regarding the approval, monitoring, control and sanctioning the activities of commodity exchanges, published in the Official Journal of Romania, Part I, no. 850 dated November 21, 2014 having as duties to:
- Conclude agreements and protocols with institutions authorized to regulate and supervise the capital market or commodity exchanges
- Issue and update official papers and specific commodity exchanges documents – regulations, rules, instructions, certificates, interpretations etc.
- Grant preliminary approval regarding the legality and opportunity to establish commodity exchange
- Approve operational regulations specific to the trading floors organized by commodity exchanges
- Sanction commodity exchanges when observing deviations from specific legal provisions
Contact: phone.:+ 40 21 319 75 12, fax: +40 21 319 01 25, email: firstname.lastname@example.org