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ROMANIA - Capital Market Infrastructure Summary

Central Securities Depositories
Central Depository S.A.
National Bank of Romania: SaFIR and RoClear

Central Counterparties
Bucharest Clearing House S.A.
Romanian Clearing House S.A.

BIS Model
Model 2

Settlement Cycle
T+0 or as agreed by counterparties for government bonds on SaFIR1
T+2 for government bonds and T-bills
T+3 for equities, corporate and municipal bonds, set to move to T+2 but date unconfirmed

Central Depository S.A. migrated to T2S in the first wave on 22 June 2015.

Central Depository S.A. acts as the CSD for Equities, ETFs, Government bonds, Corporate bonds, Investment funds, Rights and warrants.

Key terms defined in our glossary:

Central Securities Depository
Central Counterparty
BIS Model 2
Settlement Cycle
TARGET2-Securities (T2S)

The above information is written as a general guide only and is subject to change. Please refer to our 'Terms' page for more details.