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Panama, EFE
The Association of Stock Exchanges of Central America and the Caribbean (BOLCEN) today welcomed his fellow from Quito (Ecuador) with whom the partners would add savings for about $ 250,000 million .
The Vice President and Director of the Panama Stock Exchange, Olga Cantillo celebrated the incorporation of the Ecuadorian Stock Exchange at the beginning of the annual BOLCEN meeting, in which the magazine was examined in the process of Regional integration of capital markets and the economic panorama of the region.
Cantillo, also president of BOLCEN, recalled that the "true integration" was achieved between the markets of El Salvador and Panama, year of operation, it reached a negotiated amount of 67, $ 6 million and more than 320 transactions . "
The integration has grown since" the novelty of the remote operator (transactions) electronic recognized as cross-border), such is the case of Ecuador, the Honduras and Nicaragua, who saw it as a gateway to the world. "
The chairman of the Quito Stock Exchange, Gilberto Pazmiño told reporters in the meeting that was signed today the agreement to join the process of stock market integration. [19659004] And calculated that "in about six months" the first remote transaction can be given, because there is adequate legislation and "Pazmiño collaboration pointed out that the Ecuadorian economy would add some 100,000 million dollars from its gross domestic product (GDP) to the group bringing the weight of the BOLCEN economies to $ 250 billion. 19659004] "Central America has excellent issuers and very good institutional investors", and Ecuador will offer a very diversified stock market with mainly fixed income products in almost the entire economic spectrum.
Ecuador may "receive foreign investors" and "there are issuers that may be foreign investors," adds Pazmiño.
In addition, he stated that at the general meeting of Bolcen they signed their badociation, The dollarized economy and the high rates of Ecuador "may be attractive for investors, in addition to diversifying their product basket, "he said.
For his part, the President of the Costa Rican Stock Exchange, Thomas Alvarado stated that the badociation was advancing the development of a "common book" in which all the operators have agile access to all offers with a common format, "with reliable and timely information."
It is also necessary to provide transparent information on the prices of the documents offered and to report on the contents which are the most recent relevant investments of all issuers.
The director of the El Salvador Stock Exchange, Valentín Arrieta explained the development of the process of integration, which seeks "efficiency" in transactions with the
It added that its liquidity management in deposit centers should be considered, looking for a "risk reduction".
His Nicaraguan stock exchange colleague, Gerardo Arguello, pointed out that the interconnection of securities markets seeks efficiency and will highlight the investment opportunities offered by the region, expanding the market beyond the borders of Central America.
With an economy of scale funding sources can be expanded to reduce costs, learning curves are shorter and communication is more fluid, explained.
However, he acknowledged that the serious crisis BOLCEN was founded in 1994 and its partners are Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Nicaragua and Brazil. Panama and the Dominican Republic.
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