Bursa Romana de Marfuri (Romanian Commodities Exchange) is a majority privately owned company founded in 1992 with 82 corporate shareholders, mainly consisting of private entities but also including several public companies.

On the wholesale energy market, BRM is licensed as a market operator by the Romanian Regulatory Authority for Energy on the gas market since 2018 and the electricity market since 2022.

BRM organises trading mainly on spot and forward contracts with physical delivery, which represented around half of the national consumption in the past few years. BRM acts as a central counterparty for all trades concluded on the spot market and introduced the option for centralised clearing for forward contracts in September 2019. Since May 2019, BRM also operates the balancing market trading platform on behalf of the local gas TSO and has held the status of RRM since 2015. Currently there are more than 120 participants registered as producers, suppliers or traders on the gas markets.

In the electricity market, BRM began operating forward markets in May 2022 and is in the process of obtaining the NEMO designation by the local NRA which is expected in the first quarter of 2023 with operations on the SDAC and SIDC to be launched by the end of 2023.

In addition to wholesale energy markets, BRM traditionally operated a retail electronic platform where around 1,000 public institution purchase from suppliers gas, power, oil products and other general commodities through more than two thousand auction per year.

Thus, BRM aims to further develop a more integrated local commodities market which combines elements such as wholesale, retail services and financial services. In this regard BRM has already started operating on financial markets as a registered trading venue under MIFID II since 2021 and plans to further support market development based on expertise and logistical knowledge established through extensive portfolio management and through developing a large customers portfolio