Romanian Commodities Exchange
The right place for the profitable transactions
Continue innovation and developement, exhaustive studies and predictions of the regulated commodities markets evolutions in order to offer transparent, correct and useful information and servicies to all participants in the market.
Long term strategies will ensure high volumes of tranzactions and product diversity to meet the participants needs timely and efficiently under maximum security and transparency.
RCE will employ both the traditional floor trading and the electronic trading systems in pursuing a leading rol in the exchange market, domestically, regionally and internationally.
Transparency - all the information with regard to RCE markets are made public
Integrity -observance of the legal regulations and internal ethical norms in place
Guarantee - tranzaction certification by integration of clearing services
Efficiency - quick response to market signals and participants needs
Competitiveness - continue innovation and adaptation, to the market changes and trends in behalf of all participants
„The strategy for the next period employs two major approaches. The first one will consolidate and optimize the mechanisms in place, gain the public acceptance by buiding a healthy and trusty relationship with the public, attract new clients. The second one will focus on continuos growth and bringing institutional investors by translating the market signals and trends into specifically taylord mechanisms and products and by partnerships with other entities abroad.
President & CEO
„The development of spot and derivatives markets respresent two main objectives of RCE’s management, by which a competitive position for the commodity exchange within the business environement is assured, as an important spot for bussiness and useful information.
The Cash market shall develop by forward contracts and by other derivatives products operations”.
RCE – REFERANCE DATA
The Romanian Commodity Exchange (RCE) – private company of public interest is the only Commodities Exchange in Romania and operates in compliance with the legal provisions in place (Law no. 357/2005).
RCE’s activity is based upon the support and cooperation with its 112 shareholders,that include: companies within the energetical and natural gas fields; companies within the agriculture field, construction field, transportation field, electrotechnical field, pharmaceutics industry field, touring field; commercial banks, territorial chamber of commerce, services and financial investements companies, brokerage companies, consulting services companies.
Services offered by RCE:
charge stock purchase and sale on Cash market
quotations for the materials traded on Cash market
usage of the electronical platform for performing the transaction on Cash market
products, services and works procurement on Auction market
capital assets, active assets, goods sale on Auction market
consulting services for public procurement procedures on Auction market
the organization and performance of public procurement procedures under European Community auspices
legal assistance for making the technical specification book
exchange consulting services
legal assistance for trading performing
quotations for the most important fungible products
training offered by courses or events
exchange information in the publication “Buletin Bursier”
general and particular information regarding the exchange trading on sites
RCE in figures: 1996 – 2008
trading value: over 4 billion EUR
performed transactions: over 12,000
The most important clients and their fields of activity
Transportation – Autoritatea Aeronautică Civilă Română, Administraţia Canalelor Navigabile SA Constanţa, Aeroportul Internaţional Constanţa, Aeroportul Internaţional Bucureşti Băneasa "Aurel Vlaicu" SA, Aeroportul Internaţional Henri Coandă Bucureşti SA, Administraţia Porturilor Dunării Fluviale SA Giurgiu, Administraţia Porturilor Maritime S.A. Constanţa, Autoritatea Rutieră Română, Societatea Naţională de Transport Feroviar Călători "CFR CĂLĂTORI" SA, Societatea Naţională de Transport Feroviar Marfă "CFR MARFĂ" SA, Compania Naţională de Cai Ferate "CFR" – SA, Societatea Comercială de Întreţinere şi Reparaţii Locomotive şi Utilaje "CFR IRLU" SA, Compania Naţională de Autostrăzi şi Drumuri Naţionale din România SA, Registrul Auto Român, Regia Autonomă de Transport Bucureşti, METROREX SA
Communication – Compania Naţională POŞTA ROMÂNĂ SA, Compania Naţională de Radiocomunicaţii Navale "RADIONAV" SA, SC "Telecomunicaţii CFR" SA
Army – military facilities (over 30)
Construction – Agenţia Naţională pentru Locuinţe, Inspectoratul de Stat în Construcţii, Centrul de Documentare pentru Construcţii, Arhitectură, Urbanism şi Amenajarea Teritoriului, Institutul Naţional de Cercetare-Dezvoltare în Construcţii şi Economia Construcţiilor
Electric power – ELECTRICA SA, HIDROELECTRICA SA, SN NUCLEARELECTRICA SA, TERMOELECTRICA SA, Compania Naţională de Transport a Energiei Electrice "TRANSELECTRICA" SA, Societatea Comercială Filiala de Întreţinere şi Servicii Energetice "ELECTRICA SERV" SA, Centrale Electrice de Termoficare, Filiale de Distribuţie şi Furnizare a Energiei Electrice, Sucursale de Întreţinere şi Servicii Energetice Electrice, RADET
Oil Proccessing – PETROM SA, LUKOIL ROMANIA SRL, ROMPETROL DOWNSTREAM SA, RAFINARIA STEAUA ROMANA SA, ECO PETROLEUM SA, GEO GAZOIL TRANS SRL, MOL ROMANIA PETROLEUM PRODUCTS SRL, OSCAR DOWNSTREAM SRL
Administration – Municipal Councils - over 70, Local Councils, District Councils, General Directions of Social Assistance and Child Protection
Culture – kindergartens, schools, highschools, universities, museums, theatres
Public Health – hospitals - over 50, institutes, ambulance services
Justice System – courts from Arad, Giurgiu, Neamţ, Suceava; penitentiaries from Bacău, Oradea, Aiud , Harghita
The RCE is the solely administrator of this market and manages all Spot and Forward Contracts with physical delivery on a large variety of fungible products. The trading can be done traditionaly and electronically.
The legal framework: Law 357/2005 governing commodities exchange
G.E.O. 34/2006 governing auctioning procedures for public developments
The RCE internal regulations governing the Cash market operations
Trading proceedings specific for each floor
The Cash Market is structured in specialized flors:
Oil products - oil, diesel oil, heating fuel, crude oil, lubricants, petroleum
Electric Power - electric power
Natural Gas - natural gas
Coal - lignite, mineral coal
Cereals - corn, rape, soybean, sunflower
Structural materials - cement, sand, ballast, timber, slippers
General products - wood, bitumen, stone, salt, live animals and animal products, grains and grain products
Fruits and vegetables - any type of vegetables and fruits, fresh or processed
Receivables - commercial receivables trading
Emission certificates - CO2 emission certificates trading
Since 2007, RCE issues weekly oil products quotations for a large variety of products:
fuel type M
crude oil 1% sulphur
RCE Cash Market is the best solution for both private and public partners.
The commodities purchase/sale, quoted in conditions of maximum transparency and the market access are easily initiated by simply issuing a buying/selling order.
The advantages of Cash market trading:
competitive prices as a result of proper research with regard to demand and offer
RCE quotations system for the most important fungible products
organized, structured and well-known market
great number of participants on the market
the good execution guarantee of the contracts
greatly reduced processing time
territorial work points, that cover 90% from the country’s area
Cash Market in figures:
2006 -2008: 265 millions EUR
2008: 142 millions EUR
Whom do we address?
to the producers, traders and consumers of fungible products
The Cash market trading can be made by open outcry or electronically.
The Auction Market developed by RCE is organized around the interest for commodities, services and public developments. The trading can be done traditionaly and electronically.
The legal framework:
Law 357/2005 governing commodities exchange
G.D. 925/2006 governing the application of G.E.O. no.34/2006 standard in public aquizitions
The self-regulations: governing the auctions and awards of services and public works contracts, sale of mobile and immobile goods, state assets, goods legally confiscated or registered in state patrimonium.
The services offered by RCE on Auction Market are:
consulting services for the appliance of public procurements procedures
organization of procedures for products, services and works procurement
organization of procedures for sale of mobile and immobile goods, state assets
RCE services on Auction market address to:
local and central public administrations
companies subordinated or under the authority of state institutions
The trading takes place on the exchange floor, by open outcry.
The competitive advantages of Auction Market are:
RCE consulting – for public developments
procurement services externalization – for private companies
RCE offers assistance to departments responsible for sale/procurement contracts awards, including the public ones:
making the annual program of public procurements
bider qualification and selection criteria
making the documentations
finalizing the technical specification book
concluding the procurement framework contract
sending the participation invitations toward potential biders
publication of all auctions in SEAP and communication with Finance Ministry
procurement procedures performing
answering to the clarification requests
making the reports and communicate the procedure result
manage legal complaints
Auction Market in figures:
Public procurement consulting services since G.E.O. no. 34/2006 came into force:
Period 30.06.2006 - 30.06.2008:
Number of auctions organized – over 4,800
Total value of awarded contracts - over 760 millions EUR
Period 01.01.2008 – 31.12.2008:
Consulting services: 1,800 procurement and sale contracts
Total value of awarded contracts - over 420 millions EUR