Panama's Latin Clear has custody of US$5 bilion
Panama's central securities depository Latin Clear currently has custody of some US$5 billion, the Panama Stock Exchange reported.
Tuesday, May 20, 2008
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.
The creation of a holding company for Panama's stock exchange and its central securities depository will likely be completed early next year.
Central Latinoamericana de Valores S.A. - Latinclear now offers international securities custody services in nine countries.
The Cabinet Council of Panama has approved a draft law on adopting a regime for custody certificates issued as bearer shares.
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.
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