ASF initiates the acquisition of a computer program for supervising trading activity on the local capital market

Bucharest, 22 October 2025 – The Financial Supervisory Authority (ASF) announces the launch of a public procurement procedure for a computer program to supervise trading activity on the Romanian capital market, which will improve real-time monitoring of transactions and contribute to strengthening the Authority's institutional capacity to quickly identify possible malfunctions, deviations, or cases of market abuse.

The public procurement process aims to provide, implement, and ensure technical support for a period of three years for a state-of-the-art computer program dedicated to monitoring trading activity on the local capital market.

"Strengthening the Romanian capital market is a strategic priority for the Financial Supervisory Authority. Modernizing supervisory tools represents a firm commitment to transparency, integrity, and competitiveness at the European level. The capital market must be based on clear rules, solid institutions, and the ability to intervene promptly and in a balanced manner. Investing in this IT program is a decisive step towards modern, predictive supervision aligned with international best practices," said Mr. Alexandru Petrescu, President of the Financial Supervisory Authority.

The objectives pursued through the acquisition and implementation of the platform include monitoring trading activity to identify cases where one or more transactions generate abnormal price or volume movements, analysing historical trading data (including data reported by intermediaries through the TREM system), and analysing possible cases of market abuse.

"With this initiative, ASF is taking an important step towards modernizing the capital market surveillance infrastructure. The implementation of a state-of-the-art IT platform will provide us with the tools we need to quickly identify risks, intervene effectively, and ensure a solid framework for investor protection. Trust in the capital market is built on transparency and security, and this initiative goes exactly in that direction," said Gabriel-Ioan Avrămescu, First Vice President of ASF, coordinator of the Financial Instruments and Investments Sector.

It also aims to analyse reports made by market/system operators regarding possible indications of violations of relevant legislation, as well as transactions carried out under share buyback programs by issuers and price stabilization programs. With a view to the operationalization of the derivatives market on the Bucharest Stock Exchange in the near future, the platform will be designed to also cover transactions with these instruments.

The new IT platform will improve real-time transaction surveillance and ensure continuous monitoring with data configured in accordance with legal provisions on market abuse. At the same time, it will strengthen the investigation of cases considered to be breaches of market abuse legislation by providing access to accurate and centralized data, increase the institution's efficiency and responsiveness, and facilitate the rapid analysis of complex situations through an automated and configurable alert system.

For the Financial Supervisory Authority, the capital market supervision component is essential. A modern and efficient supervisory system does not only mean monitoring current activities, but also involves the ability to anticipate risks through early warning signals, which allows for rapid and effective interventions to ensure that major imbalances are avoided, investors are protected, and confidence in the Romanian capital market is strengthened.