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Latibex is the only international market
for Latin American securities. The market’s creation,
in December 1999, was approved by the Spanish government
and it is regulated by the Spanish Securities Market
Law.
Latibex is an ideal way to channel European
investment efficiently towards Latin America. European
investors can buy and sell shares and securities in
leading Latin American companies through a single market,
with a single operating system for trading and settlement
and a single currency, the euro. The market is based
on the trading and settlement platform of the Spanish
stock market, in such a way that the Latin American
securities listed on Latibex are traded and settled
like any other Spanish security.
Meanwhile, Latibex gives Latin American companies easy and efficient access to the European capital market. In short, it brings European investors close to one of the world’s most economically attractive regions, streamlining the operational and legal complexity and reducing risks. And this is all achieved in an environment of considerable information transparency.
The Bolsa de Madrid has also consolidated Latibex’s innovative technical and functional organisation. The Co-ordination Agreements between Latibex and Latin American stock markets make for shared and integrated management which, as well as spurring development of the market, promotes its advantages more widely.
| MAIN FEATURES OF LATIBEX |
| Market authorised by the Spanish government |
| Trading and settlement platformin Europe of the main Latin American companies. |
| Currency: trading in euros. |
| Trading: the SIBE, spanish electronic trading system. |
| Settlement: D+3 through book-entries. |
| Connected to the market of origin under agreements of Iberclear with Latin American custodians or a link entity. |
| Brokers: all members of the Spanish stock market. Members of Latin American markets can also operate. |
| Specialist brokers: they provide a purchase and sale price at all times, linked to a certain trading volume in order to meet the requirements of any investor. |
Indices:
i)FTSE Latibex All Share, which covers all
the companies traded on Latibex.
ii)FTSE Latibex Top, which covers the 15 most
liquid securities traded on Latibex.
iii)FTSE Latibex Brasil, which covers the
most liquid securities from Brazil traded
on Latibex.
* The indices are drawn up in conjunction
with the FTSE, the company responsible for
the indices of the Financial Times Group. |
| Transparent information: the listed companies provide the market with the same information they supply to the regulatory entities of their markets of origin.
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