ANALYSING THE IMPACT OF ESTABLISHING A CENTRAL COUNTERPARTY ON THE ROMANIAN CAPITAL MARKET

Ovidiu Mihai Vasuț () and Ioana Cristina Sechel
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Ovidiu Mihai Vasuț: Faculty of Economics and Business Management, Babeș-Bolyai University, Postal: Faculty of Economics and Business Management, Babeș-Bolyai University, Str. Teodor Mihali, Nr. 58-60, Cluj-Napoca, Romania

Annals of Spiru Haret University, Economic Series, 2021, vol. 21, issue 1, 25-37

Abstract: Through this article, we aim to analyze the impact of setting up a central counterparty (CCP) on the Romanian capital market. At the same time, the current stage of the steps initiated by the authorities in the field for the establishment of the central counterparty will be addressed. The study is based both on theoretical elements from the international bibliography and on a series of reports prepared by various institutions in the field of capital market. The objectives pursued through this article are to highlight both the positive factors that can bring the value of financial activity on the Romanian capital market and to raise awareness of the risks to which the economic ecosystem is exposed by developing a central counterparty and integrating it into the Romanian financial market. At the same time, aspects regarding the role of the central counterparty in the economy as well as the advantages and disadvantages of setting up a CCP in Romania were addressed

Keywords: capital market; stock market; central counterparty; economy; financial market (search for similar items in EconPapers)
JEL-codes: G23 (search for similar items in EconPapers)
Date: 2021
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