Stock markets of Peru, Chile and Colombia would trade up to US$200,000 million

The Lima Stock Exchanges (BVL), Chile and Colombia made official their long-awaited merger as Holding Bursátil Regional SA (HBR), called Nuam Exchange, according to an important fact sent to the Financial Market Commission (CMF).

Thus, the extraordinary meeting of shareholders completed the last condition to complete the registration in the CMF Securities Registry of 29 million 273,893 first-issue shares of HBR, after the approval of the merger between Holding Bursátil Chilena SA (HBC) and the Sociedad de Infraestructuras de Mercados SA (SIM) at the end of August.

Juan Andrés Camus, president of the HBR Board of Directors, stated that With this operation they seek to generate a new, open and transformative market that strengthens regional economies, promotes greater competitiveness against global players and contributes to the economic development of the three countries.

“We seek to enhance the development and depth of the capital markets of Chile, Colombia and Peru,” he stated.

Impact

Daniel Guzmán, general manager of Credicorp Capital SAB in Peru, considers this merger as a “very important milestone” that will make the integrated market in an attractive alternative for large global players.

In addition, it estimates that daily transactions on the BVL would increase between 25 and 33 times their current value.

“At the moment, The daily value traded on the BVL is between US$ 6,000 and 8,000 million“But if we add the approximate amounts of the 3 bags, we would handle a total amount of between US$150,000 and US$200,000 million,” Guzmán told La República.

Likewise, he indicated that the investors will benefit the most by having investment options in each sector, with a more liquid general stock market that will contribute to diversification, which would be key to the performance of the portfolios.

Joint benefit

Next steps include establishing working groups to review operational issues, systems and processes with the goal of achieving a unified process.

Likewise, Guzmán affirms that by the second half of 2024, tangible results will begin to be seen.

It should be noted that Nuam Exchange By 2025, it plans to implement the interoperability of clearing and settlement chambers, the interconnection of securities deposits and the approval of hardware, telecommunications and corporate systems infrastructure.

In addition, the implementation of a single platform with homogeneous rules for the three countries is planned, operating in equities, derivatives and fixed income.

Keys

• Performance. BVL would close 2023 with a return of 4% in dollars and 5% in soles, above other Latin American countries, such as Colombia and Chile, according to Credicorp Capital.
• Items. Electricity (38%) and mining (18%) with greater scope in BVL for October.