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Analysing The Impact Of Establishing A Central Counterparty On The Romanian Capital Market

Author

Listed:
  • VASUȚ, Ovidiu Mihai

    (Faculty of Economics and Business Management, Babeș-Bolyai University)

  • SECHEL, Ioana Cristina

    (Technical University, Cluj-Napoca, Romania)

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

Suggested Citation

  • VASUȚ, Ovidiu Mihai & SECHEL, Ioana Cristina, 2021. "Analysing The Impact Of Establishing A Central Counterparty On The Romanian Capital Market," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 21(1), pages 25-37.
    • Handle: RePEc:ris:sphecs:0379
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    More about this item

    Keywords

    capital market; stock market; central counterparty; economy; financial market;
    All these keywords.

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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