Arguing that the country's situation is complex and that the need for greater liquidity to meet its immediate responsibilities has had consequences on its funding sources, Factoring S.A. announced its exit from the local stock market.
Managers of the financial institution reported that the company began operations in 1998 and in 2011 was authorized by the Superintendence of Banks and Other Financial Institutions (Siboif), to make issues in the stock market.
Protecting the rights of investors and minimizing systemic risk is part of the objectives pursued by the new law on the stock market in the Dominican Republic.
The Executive Power promulgated Law 249-17 that modifies the previous 19-00 of the Dominican securities market.
The Superintendent of Securities, Gabriel Castro González, "...
Trading volume last year reached $1.526 billion, 30% more than what was traded in 2015.
The repo market accounted for most of the volume traded in the stock market in 2016, with an increase over 2015 of 33%.The volume traded in these instruments was 382 million, while in 2015 $289 million was traded.
Over $7,3 billion was traded on the Panamanian stock market over the past year, 40% more than the $5.246 billion traded in 2015.
In 2016 negotiations on the primary market went up by 15.7% compared to the previous year, settling at $3.934 billion, above the $3.401 million in 2015.Transactions in the secondary market grew by 44%, going from $1.51248 billion to $2.18289 billion.
Trading in 2015 surpassed the amount registered in 2014 by 7%, and the primary market grew by 6%, recording transactions for $8.272 million.
The stock market in Costa Rica has still not captivated the private sector, which mostly prefers to seek financing in the country's banking system or from abroad, before resorting to registering debt or share issuances in the local market.
Ongoing Emissions Report, Daily Report Movements, Movements and Historical Report, there are three new reports from the Superintendency of Securities.
An article on Crhoy.com reports that "... From Monday, the Superintendent of Financial Institutions (SUGEF) will have online information about the movements of the balances of emissions registered in the National Registry of Securities and Intermediaries, namely debt issues (bonds), equities and securities for participation of closed-end funds. "
Low interest rates, uncertainty and a declining share of securities issued by the government explain the 15% drop in the number of trades in 2014 compared to 2013.
A few days after the end of the trading year, the stock market is preparing to close 2014 with numbers lower than 2013, following the downward trend in the number of transactions seen since 2009.
Between January and September $4.25 billion were traded in the stock market, up from the $3.093 billion traded in the same period in 2013.
The months reporting the largest amounts were March, with $697.5 million and July, with $578.6 million, while the months reporting lower volumes were January at $317.9 million and February at $335.4 million.
In the first six months of the year $3.250 million were traded, which is an increase of 33% compared to the amount traded in the same period in 2013.
The primary market, where fist time issues of shares and debt securities are recorded, had the most activity, with trading of $414.61 million between January and July 2014.
Laestrella.com.pa reports that "...In the case of the primary market in the month of July 2015, background shares reached $20.72 million, preferred shares $2.59 million, bonds $154.73 million and mortgage bonds $75 million."
The amount of trade between January and June this year represents 53% of total traded in the market during 2013.
In the month of June 2014 alone transactions in the securities market of Panama totaled $469.7 million, with the primary market, where new issues are made, being the most important, with 53% of the total traded.
"... In the first six months of the year the total cumulative volume of the market represents 53% of the proceeds from all of 2013. Whilst January to June $2,671.8 million was accumulated, from January to December 2013 the figure was $5,018.8 million. "
In the first three months of the year $1.350 million worth of securities were traded, up from $1.057 million traded in the same period in 2013.
Increased purchases of securities in the first quarter of 2014 "were made by BG Valores ($230.09 million), Prival Securities ($228.88 million), Banco Nacional de Panama ($195.62 million), MMG Bank Corporation ($142 55 million) and Citivalores ($126.06 million) ...
The market is now in its first stage of operations with transactions of government bonds and state owned institutions, which will be followed by corporate bonds.
The new link between the Central Latinoamericana de Valores Latin Clear Central and the largest global custodian of shares Euroclear allows emissions on the Panama Stock Exchange to be purchased by investors in 46 countries around the world.
The International Organization of Securities Commissions is demanding regulatory approval so that the country will not be excluded from the international money market.
The stock market has a need for exchange of information in order to comply with the International Organization of Securities Commissions (IOSCO), which requires its members to have a mechanism to determine who is the beneficiary of a transaction.
Direct access to trading platforms and the rise from 5% to 8% of the tax on mutual funds are some of the changes proposed by the bill.
The draft of the new bill, proposed by the National Council for Market Development, will be subject to public consultation with the stock market and financial sector from now until January 31, 2014.
The new law, which would replace the current Regulatory Securities Market Act contemplates major changes, such as increasing the tax rate paid by mutual funds to 8%, a greater integration with the international market and better trading platforms with direct access for investors.
The Road Maintenance Fund of El Salvador launched a second sale of securities worth $50 million on the stock exchange.
In May the Road Maintenance Fund (FOVIAL) had already raised $50 million and it is now looking for more funds with a new securitization this week.
This fund, just like the first one, will be placed in two tranches, the first "... for a period of 14 years, for $35 million, with a grace period of six months before starting the repayment of the principal along with quarterly interest payments" reported Prensagrafica.com.