- Along with Sibiu Monetary Financial and Commodities Exchange, Romanian Clearing House (RCH) is one of the central institutions of the futures and options market, having an equal importance as Sibiu Exchange. If the Exchange organizes and regulates the market, RCH is in charge with the management of the participants' risk, its activity having its own rules.
The regulations of the two institutions are matched and filled continuously, for a safer and faster functioning of the market as a whole.
Romanian Clearing House is established as a joint stock company since August 1998, with a capital of 10,813,500 RON, divided into 10,813,500 shares of 1 RON each, currently owned by 72 shareholders. In September 1998, RCH took over the activity of the former Clearing Department of S.M.F.C.E. The evidence, clearing and settlement of trades are made with a program of his own design, which has been integrated with GlobalVision trading platform and executes these operations in real time. Thus, the safety of the market is extremely high, any possible problem is detected even before it occurs.
- Romanian Clearing House is a Romanian clearing company authorized by R.N.S.C., according to Law 297/2004 and R.N.S.C. Regulation no. 13/2005. Therefore, RCH is the only Romanian entity that guarantees, settles and compensates the trades with derivative. RCH was registered as a clearing house in the R.N.S.C. Public Registry No. PJR18CCC/320001 by R.N.S.C. decision no. 19/31.01.2006. RCH Regulations No. 1 and 2 have been approved by R.N.S.C. decision no. 362/31.01.06.
- The rights and obligations arising from buying and selling futures contracts appear continuously between the operators of futures and options markets. Due to the large scale of trades and the large number of bought and sold contracts (on Chicago Board of Trade, the crop of the United States for the next year is bought and sold several times a day), it is necessary to exist a Clearing House in order to avoid chaos. It interposes between seller and buyer in the moment of the trade and buys from the first and sells to the second, at the price set by the two sides. Thus, the direct relationship between the two disappears, being replaced with two relationships, between them and RCH.
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