The BM & F Brazilian stock exchange Bovespa, has initiated contacts with Chile, Peru and Colombia with the aim of getting closer ties with its neighbours, enhance the attractiveness of Latin America and ensure flows of investments to the region. Representatives of the exchange will meet in Chile with local stock exchanges and regulators in order to facilitate transactions between the two stock markets.
Paulo Oliveira Junior, Vice President and Director of New Business Development of BM & F Bovespa, said that there was “A great interest in keeping the market liquidity here in our continent, in creating new products, developing bilateral relations among countries to prevent a flight of capital or investment to other places.” He added that the best way to do this is to strengthen local markets.
“Our idea is not acquisitions but cooperation. If it is necessary to invest in new trading platforms, product development or invest in people, we are prepared to meet and work together,” said Oliveira. The first step is to know what local markets can buy in Brazil. How can, for example, a Brazilian investor easily invest in Chile and vice versa.” “You then seek to create a network with the exchanges in Chile, Peru and Colombia, by using cooperation, partnership and not by creating a single entity to manage the markets in the region.”
Next the Brazilian market executives will visit the exchanges in Peru and Colombia. BM & F Bovespa already has close ties with exchanges in Argentina and Mexico.
Source: BOVESPA 29.08.08
Filed under: News, Argentina, BM&F, BMV Bolsa Mexicana de Valores, BOVESPA, Brazil, BVC Bolsa de Valores de Colombia, BVL Bolsa de Valores Lima, Chile, Colombia, Exchanges, Latin America, Merger, MexDer, Mexico, Peru
