The impact of the coronavirus crisis on the financial sector in Central America is expected to be felt mainly in services related to stock brokerage and investment advice, where a drop is expected.
The "Information System for the Impact Analysis of Covid-19 on Business", prepared by the Trade Intelligence Unit of CentralAmericaData, measures the degree of impact that the crisis will have on companies according to their sector or economic activity, during the coming months.
The Panamanian Stock Exchange announced the implementation of its new electronic trading system, which operates with Nasdaq Matching Engine technology.
Directors of the institution informed that one of the main objectives of the transformation to its trading system is to position the Panama Stock Exchange (BVP) as the regional hub of the capital market.
Grupo Prival, a financial institution of Panamanian origin, has announced the sale of its subsidiary Prival Securities El Salvador, on May 8, 2018.
Elcapitalfinanciero.com reports that "... In a note sent to the Superintendency of the Stock Market (SMV) for public knowledge, the banking institution reported that the change was duly notified and authorized by the Superintendency of Banks of Panama (SBP). "
Approval has been given to the start of operations of Casa de Bolsa de los Trabajadores, a subsidiary of Grupo Financiero de los Trabajadores.
The stock broker will focus on both corporate and individual clients , and in a first stage, "... in electronic repo transactions, but will also venture into the sale of treasury bonds on the secondary market."
Public consultation is being undertaken for the reform the regulation of Market Makers, with which it is intended to attract more stock brokers to the program to provide more liquidity to the market and stabilize prices of securities.
This reform also seeks to establish a reference price, a guarantee of "... minimum level of liquidity for emissions with little market presence "and amend the rules that are in effect, with the aim of improving the conditions for brokerage firms. It is expected that this project will be executed before the end of the year.
New legislation prevents operating as a stockbroker those entities who do not have a license issued by the Superintendency of Securities, among other changes.
In 2013, 11 agreements were approved, while so far this year five have been approved, which contemplate limits for exercising the office of broker or analyst. Examples include compatibility charges, the approval to apply for the license exams, exclusivity for a single entity represented, among other things.
Amendments to securities regulations are being prepared in order to allow local stock brokers to buying shares of listed companies in developed markets.
This change in regulations and operational infrastructure will give access to the purchase of shares of international companies listed on stock markets such as New York.
The Superintendency of the Panama Stock Exchange is preparing a regulation that prevents people with certain licenses from holding the same positions in more than one entity.
The regulation was submitted to consultation by the Superintendency of Securities and Exchange in Panama and received several proposed changes, mainly from the Panamanian Chamber of Capital Markets (Capamec), which believes that "...
Barclay's may have withdrawn from its role as advisor to the Honduran international bond issue because the government could have omitted relevant information in the prospectus for the issuance.
The British firm Barclay's and the Deutsche Bank had been hired by the government of Honduras to provide advice on the placement of an issue of $750 million in sovereign bonds on the international market.
A proposal has been made for the creation of a commodity exchange for Latin American companies to trade products.
Laestrella.com.pa reports that "Panama could become the hub of negotiations for Latin American commodities. The initiative would attract agents or brokers from Argentina, Brazil, Mexico and other countries for buying and selling commodities from the isthmus."
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