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Panama and Ecuador Stock Exchanges Sign Cooperative Agreement

Article Summary:

Panama and Ecuador’s stock exchange, Guayaquil, signed a cooperative agreement to share information and negotiate emissions simultaneously. Both countries hope to develop mutually beneficial initiatives which include improving the adequacy of their trading systems. Guayaquil currently has signed agreements with three other counties, the goal is to develop a regional stock market.

Photo Credit: Panama America

Original Article Text From Panama America via Google Translate :

Stock exchanges in Panama and Guayaquil signed cooperation agreement

The Panama Stock Exchange and Guayaquil on Thursday signed an agreement of mutual cooperation and information to negotiate emissions simultaneously, reported the Panamanian market.

The main objective of the agreement, signed in the Ecuadorian city is to develop mutually beneficial initiatives generating securities issues and transactions of both pathways, including the adequacy of trading systems, told Efe a spokesman for the Stock Exchange Panama (BVP).

The agreement was signed by Fernando Aramburu Porras, on behalf of the BVP and Rodolfo Kronfle Akel, president of the Guayaquil Stock Exchange. Meanwhile, a statement said the executive vice president and general manager of the Panama Stock Exchange, Roberto Brenes, said the BVP already has similar agreements with Costa Rica, Nicaragua and El Salvador and looking to expand to the Dominican Republic.

“The idea is not bilateral but rather a regional market,” says Brenes.
The BVP traded 3,500 million U.S. dollars annually, especially in the securities of corporations, while it is estimated that the Guayaquil Stock Exchange closed the year with a volume of 3,000 million dollars, the source said.

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From Panama America

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