The Sibex-Sibiu Stock Exchange (Sibex S.A. in Romanian) was a stock exchange and futures exchange in Romania that was the largest market for Futures and Options trading in Romania. It was established in 1994 and finally merged with the Bucharest Stock Exchange in 2017. History Establishment 1994 The Sibex-Sibiu Stock Exchange was established as a private company in December 1994, with 33.24 million lei share capital, and was the first Romanian exchange authorized by Romanian National Securities Commission (RNSC). Being the pioneer of exchange listed derivatives in Romania, Sibex is the leader in this market segment. In July 1997, Sibex (known at that time as Sibiu Monetary Financial and Commodities Exchange) has become Romania's first derivatives exchange through the implementation of futures contracts. Since 1994, Sibex’s national and international recognition has grown significantly as the developments of the company have contributed to growth and consolidation of its position within the Romanian and international capital markets. In 2005, Sibex was evaluated by PricewaterhouseCoopers to 3.4 million EUR, but it has been subject to continuous growth and expansion ever since. In comparison, in the same time period, PwC has evaluated the Bucharest Stock Exchange at 16 million EUR. As of May 2006, Sibex had 74 shareholders of which 38 were financial investment companies. Sibex is run by a Board of Directors presided by Mr. Ovidiu Petru, CEO and General Manager. First failed merger proposal 2006 In May 2006, Sibex discussed a merger with the larger Bucharest Stock Exchange, located in the capital of Romania. After a lengthy period of negotiations between sides, in October 2006, shareholders of the Bucharest Stock Exchange rejected the proposal. Failing to absorb the Sibiu Exchange, Bucharest Stock Exchange (BVB) announced in June 2007 that it planed to open its own derivatives market in the near future. BVB has long announced plans to start its own derivative products based on its main composite indices: BET, BET-C, and BET-FI, (there is also a ROTX index, listed on the Vienna Stock Exchange). Eventually they might adopt currencies, stock index, and bonds as future underlying assets for their planned derivatives. Until then, The Sibex - Sibiu Stock Exchange will still be seen as Romania's one and only powerful derivative marketplace. Growth 2007-2014 In January 2008, Sibiu Exchange became a member of the Association of Futures Markets International organization which gathers stock exchanges and other financial entities in Europe, Asia, South America