Uncertainty about the exchange rate and interest rates ispushing companies to seek solutions to cover financial risks,enhanced by the economic downturn.
Romanian companies are starting to seek solutions to slash risksrelated both to interest rates and the exchange rate, and theprogression of raw material prices, which come to account for 80%in overall production costs, so that they may have more businesspredictability, says Cosmin Bucur, the new head of RBS BankRomania's Treasury.
"(...) One can operate strategy imports from the area offinancial products to the segment of raw materials," says Bucur,34.
Bucur has been working for the bank since 1998, when he startedas a dealer in the Treasury of the former ABN Amro. In 2008,Britain's RBS took over ABN Amro Romania in a global deal.Traditionally, ABN had a strong position on the market on thetreasury side of the business.
Now, Bucur is trying to develop the Treasury's operations on thederivatives segment, inclusively trading of raw materialprice-backed securities, as well as trading of carbon certificates.
Cumulated operations in the derivatives area have come toaccount for 15-20% in revenues generated by securities traded withthe bank's clients. "On the Treasury segment, it's business asusual. New products are the growth driver. Besides the traditionalpillars, foreign currency transactions and the monetary market, wenow have a third pillar, derivatives," Bucur says. He forecastsdeclines on the former two pillars.
"Clients' interest in derivatives will maintain, given the moveto predictability. Everyone is trying (...) to create anchors,which will emerge through derivatives, due to cover the entireasset class," Bucur forecasts.
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