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Sibex intends to top 10,000 contracts daily following partnership with Hellenic Exchange Group

The Sibiu Stock Exchange Sibex might top 10,000 contracts traded daily by the half of this year, as a result of its partnership with Hellenic Exchange Group, which controls the Athens Stock Exchange, Sibex General Manager Ovidiu Petru says.

'If the Athens Stock Exchange trades between 40,000 and 50,000 futures contracts daily, obviously this partnership should bring a surge in the volumes [traded] in Sibiu, as we are going to use new technologies, and above all we are going to bring products traded on the European markets, long awaited on the Romanian market. Our target is to quickly top the last years' peaks. In 2012 we had very large volumes. As you know, during the first three months of 2012 we reached volumes of 300,000 contracts per month. What we want is to exceed very soon 10,000 contracts daily, by the half of this year,' Petru said

Sibex, based in Sibiu (central Romania) currently trades more than 2,000 contracts daily on the average.

The partnership offers among other the access to a new trading platform, OASIS; it also ensures the opening of the Romanian market to new products, and the establishment of a common platform of the Athens and Sibiu Stock Exchanges, allowing Romanian participants to access products in Greece and Cyprus, and Greeks to access the Romanian market, through Sibex.

The Sibiu Stock Exchange and the Hellenic Exchanges Group (Helex), which controls the Athens Stock Exchange have signed at the beginning of February a cooperation contract enhancing their previous agreement on providing clearing services in a new environment, shaped under European Parliament's Regulation 648/2012, the European Market Infrastructure Regulation (EMIR), and based on the technological advance and support for coming exchange projects.

This cooperation also aims at developing new products and services for the actors of the two exchanges, by using a single technological framework for their operations.