Romania bans OTC emissions trading to combat fraud

The National Securities Commission (CNVM), Romania's securities regulator announced that foreign traders of EUAs will now need to comply with the provisions of the Romanian capital market legislation and will therefore need to join an exchange.

The Sibiu Monetary Financial and Commodities Exchange, Romania's only market on which greenhouse gases emissions certificates can be traded, confirmed that the legal provisions are in place.

A poll of several market traders who want to remain anonymous sa