Latinclear Expands to Canada, Mexico, and Argentina

Central Latinoamericana de Valores S.A. - Latinclear now offers international securities custody services in nine countries.

Friday, June 12, 2009


The head office of securities, which began operations in 1997 with the support of the Stock Exchange of Panama, Latinclear, will be introduced to the markets of Canada, Mexico, and Argentina through its Clearstream Banking account in Luxembourg.

According to, "This represents an important step in the development of the international strategy of the business, which last year registered operations of $4.7 billion. Stocks, at 32%, and corporate bonds, at 27%, lead in the types of securities that Latinclear maintains in its custody."

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Panama's Latin Clear has custody of US$5 bilion

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Panama's central securities depository Latin Clear currently has custody of some US$5 billion, the Panama Stock Exchange reported.

The amount in custody has risen by 2006, but in its first year of operations hust over a decade ago, Latin Clear has custody of only US$50 million.

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Fast Tracking of Immobilization of Bearer Shares

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In Panama a deadline has been bourght forward to December 31, 2015 for companies with bearer shares to turn them into registered shares or hand them in to custody.

Along with the change in the transition period is a new date for the entry into force of Act 47 of 2013, which was originally scheduled for two years after its enactment, but will now take effect ten days after it has been published.

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After serious threats to its existence, bearer shares will survive thanks to a special regime created by Law 47 of August 6, 2013.

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