On the occasion of the signing of the cooperation agreement between the HELEX Group and the SIBEX Exchange of Romania, an event was held today, February 5th, 2014 at the Hellenic Exchanges Group Headquarters. During this event, the Chairman of the Board of SIBEX, Mr. Ovidiu Galatanu, declared the start of the trading session by ringing the traditional opening bell.
The cooperation agreements signed today between the two exchanges complete their initial agreement for the provision of clearing services in the new environment taking shape in accordance with Regulation 648/2012 of the European Parliament (EMIR – European Market Infrastructure Regulation), as well as the technological upgrade and support of new projects of the Exchange.
This cooperation aims – among others – to develop new products and services to participants in the two markets, and to reduce operating costs by taking advantage of the economies of scale that a single, technological and regulatory framework of operation will provide to the two markets.
The Chief Executive Officer of Hellenic Exchanges Group, Mr. Socrates Lazaridis stated during the event: «In a period that development of a common European regulation creates significant challenges for mutual activities of the markets that provide services; such cooperation is for us a great success. Moreover, the agreement to extend the platform and cover the members and the markets of Sibiu Stock Exchange is another small but important step towards the expansion of HELEX Group’s network »
Mr.Ovidiu Galatanu, Chairman of the Board of Sibex pointed out during a short speech: “It is a particular pleasure and honor for the Sibex team to be here today for the signing of the cooperation agreement. I am convinced that this fruitful partnership will be a success for both the Exchanges and their participants.»