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.

More on this topic

Fast Tracking of Immobilization of Bearer Shares

April 2015

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.

Draft Law on Custody of Bearer Shares

February 2013

The Cabinet Council of Panama has approved a draft law on adopting a regime for custody certificates issued as bearer shares.

From the press release issued by the Presidency of Panama:
The Cabinet Council approved a draft law on adopting a regime of custody certificates for bearer shares issued as part of the actions implemented by this administration designed to get in line with international standards and to position the country as a cooperate in the fight against the misuse of financial services.

Panama Bourse and Depository To Reorganize Under Holding

August 2009

The creation of a holding company for Panama's stock exchange and its central securities depository will likely be completed early next year.

"The two companies will remain separate because their businesses are complementary. However, in terms of growth strategies, associations with other bourses and depositories, integration and expansion plans there are a lot of synergies," said Roberto Brenes, chief executive of the exchange, in an emailed statement.

Latinclear Expands to Canada, Mexico, and Argentina

June 2009

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

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.

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