The Superintendency of the Securities Market will start asking for a risk rating in all applications for registration of securities.
From a statement issued by the Superintendence of the Securities Market:
May 10, 2017. - The Superintendence of the Securities Market (SMV) will require a risk rating as part of the documents that must be included in any application for registration of securities, in accordance with the provisions of Agreement 3-2017 of April 5, 2017, "Amending Agreement 2-2010 of April 16, 2010 on the Procedure for the Submission of Applications for Securities Registration and for Termination of Registration to the SMV and other provisions" published in the Official Newspaper La Gaceta No. 28259-A of April 17, 2017.
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.
The reduction from 20% to 3% in the tax on stock profits was not enough to prevent trading on the secondary market in the first quarter of the year falling by 94%.
Lowering the tax on transactions for non-domiciled investors from 20% to 3% had a positive effect on the performance of the stock market in 2015, which grew by 6% compared to 2014.
The forecast made by Rolando Duarte, president of the Stock Exchange of El Salvador (BVES), is that this type of investment will continue to grow, thanks to the incentive which was first implemented in 2015.
In the first three months of the year $977 million was traded on the stock market, $300 million more than in the same period in 2014 .
The primary market reported $99.6 million traded during the first three months of 2015, ie, $14 million less than the amounts recorded in 2014.Meanwhile, the secondary market recorded transactions of $136 million, which is $88 million more than reported in the same period of 2014 .
Last year the amount of transactions recorded was $997 million, with highlights including 32% growth in trading in the primary market.
The good performance of the Nicaraguan economy has been accompanied by a sharp rise in the stock market, where a significant dynamism was seen, mainly in the primary market where securities have been traded for the first time.
In the primary market the amount of transactions recorded was $3.389 billion, 2% less than in 2013, while in the secondary market negotiations increased by 22%.
From the Annual Summary by the Panama Stock Exchange (BVP):
2014 was a year of significant achievement for the Panama Stock Exchange, annual trading volume increased by 4.7% compared to 2013, with total trading of $5.2 billion.
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.
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. "
Institutional investors can participate directly in bond auctions for the debt offered by the Ministry of Finance and the Central Bank without using a broker as an intermediary.
Any supervised financial institution such as banks, insurance companies, pension operators and investment fund managers can access the primary market to acquire debt securities issued by the Treasury or the Central Bank without going through a broker, who are so far the only entities authorized to carry out transactions on behalf of others in that market.
Yields on long-term bonds in colones today showed a strong rebound, reflecting expectations of higher interest rates.
Long term debt securities in colones traded in the secondary market had a significant rebound today, an adjustment which, according to the same market, was expected due to the lower U.S. dollar liquidity and the increase in rates in that currency.
As the economy grows significantly, reduced government involvement in 2013 led to a meager 1% growth in transactions on the Stock Exchange.
During 2013, transactions in the securities market of Nicaragua grew by just 1%, going from $888.5 million in 2012 to $893.2 million in 2013. The almost zero growth is due to low participation of the government and lack of promotion of its emissions, among other factors.
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