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Romanian investors to locally settle stock transactions on other 2 new markets

The Romanian investors will be able to locally settle the stock exchange transactions on other two new markets, with the advantage being the lower trading costs, according to the representatives of the Central Depositor (DC), the company unfolding the compensation-settlement operations for the stock exchange transactions.

The DC will open two new cross-border connections with similar institutions, one in Europe and the other on another continent, DC Managing Director Adriana Tanasoiu said on Tuesday in a press conference.

At present, DC offers services of cross-border settlement for transactions with shares, bonds, structured products and financial instruments on the monetary market with 18 countries, among which are Austria, France, Germany and the US.

A number of 13 shares of some US firms are already registered in the system of the General Depositor, such as Apple and Yahoo.

Bucharest can turn into a important regional financial center, said Tanasoiu, also talking about the project aimed at acceding to the new pan-European settlement system, as Romania is the only non-Eurozone member state using this system. She also said that Romania will be able to grant a sole access point to the investors from the neighboring countries and for this to happen the investors must communicate with Romania's capital market in the same manner they are accustomed to communicate with Europe's largest markets.

Romania, alongside Italy and Switzerland, will use the most advanced and safest transaction settlement platform, also benefiting, without paying for it, by the newest, best and safest system in which the European Central Bank invests 346 million euros. The term to adopt this technical platform is June 2015.