Nicaragua and Guatemala hope to form a part of the Alliance of Central American Markets (AMERCA) that is driven by Costa Rica, El Salvador and Panama.
The goal of this alliance is to facilitate investors with access to offers in member countries from wherever they may be located.
The interest shown by other markets in the region is an important incentive for its development, according to the main players who are initially working on this project.
"Although only Costa Rica, El Salvador and Panama participated directly in the process, the Nicaragua, Guatemala, and Honduras Stock Exchanges along with that of the Dominican Republic have manifested their interest in forming part of the process at a later stage," confirmed Gustao Monge, Operations Manager for the National Stock Exchange of Costa Rica.
It is looking beyond Central American integration alone to also include South America.
Roberto Brenes, head of Panama's Stock Market (BVP in Spanish), explained that the first step is to merge BVP and LATIN CLEAR, a Panamanian Central Securities Depository which performs Custody, Clearing, Settlement and electronic administration of securities. This is seen as necessary towards regionalization.
The securities markets of El Salvador, Panama, and Costa Rica have signed a letter of intent to advance the process of creating the Alliance of Central American Markets (Alianza de Mercados Centroamericanos, AMERCA).
"The vision is to lower transaction costs for the issuer and the investor and to be a communication channel, where they can invest in the three markets at the same time," said Rolando Duarte, president of the El Salvador Securities Exchange.
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