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.
Panama's central securities depository Latin Clear currently has custody of some US$5 billion, the Panama Stock Exchange reported.
The creation of a holding company for Panama's stock exchange and its central securities depository will likely be completed early next year.
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.
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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