The Spanish securities regulator warned of an unauthorized investment firm based in Panama.
According to the communiqué from the Spanish National Stock Exchange, the company with the commercial name Dextraplus (System World Investment Corp), based in Panama, is offering investment services without meeting the necessary requirements.
This company is related to Evolution Market Group, with the commercial name “Finanzas Forex.”
Starting January anyone that is properly registered will be able to buy or sell their dollars directly in Monex-Central Directo.
This will be possible since the Bank decided to integrate the Foreign Currency Exchange Market (Monex) to the Central Directo platform, which until now was used by companies and investors to make deposits at the bank.
The objective of the Central Bank is to increase the number of participants in the exchange market so that it will operate more efficiently and so that the price of the dollar will better reflect the ...
They could participate as one more entity in the Foreign Currency Market, buying and selling Currency.
A resolution by the National Council for the Supervision of the Financial System (Conasif) allows for the expansion of the services offered by the exchanges to clients. Now their clients have the option of buy or selling dollars to these entities.
The BCCR is pushing for greater participation in the wholesale money market known as the Foreign Exchange Market (Monex).
Two legal modifications are in process that will allow new participants to join the stock exchange system on their own and at their own risk; the other seek to expand the number of participants, to include others such as exporters and importers.