RCE could do better

The transactions carried out through the Romanian Commodities Exchange (RCE) this year are estimated to total 6,000bn ROL, twice the 2001 level, the chairman of the institution Mircea Filipoiu said. “Still, the results are far below the existing potential. If we take futures and options contracts into account we are not making even one percent of what the Chicago Mercantile Exchange makes in a single day,” Filipoiu said. The transactions concluded on the tender market within RCE totalled $130 million in the first eleven months of the year, with CFR SA (Romanian Railway Company) accounting for the largest share of the total (nearly $79 million, that is 60%). Another major orderer was Electrica, which ranked second with more than $27 million in tenders. “This value will go up by the end of the year, given that this orderer has several other tenders scheduled for December,” Filipoiu specified. CFR Marfa came third, with some $10.5 million in transactions, followed by RATB (Bucharest Regie Autonome for Public Transportation), with nearly $5 million. ZF