Raptor Trading Systems, a leading provider of advanced trading platforms and services for global financial institutions, has announced that Interbolsa S.A. SCB. is now a client of Raptor’s trading services group as well as a member of Raptor’s advanced network. As the leading brokerage in Colombia, the addition of Interbolsa provides another strategic addition to Raptor’s extensive Latin American Network. Raptor provides a low latency, flexible network with DMA access to key exchanges and brokers across the region, including Bolsa de Santiago (BCS) and BMF Bovespa.
Andres Uribe Director Of Electronic Trading Interbolsa S.A. SCB., said: “This is an excellent opportunity for a leading brokers such as Interbolsa to have access to a global network which is supported by a flexible and advanced service such as Raptor. Interbolsa S.A. SCB. can now extend its reach globally through its partnership with Raptor and has immediate access to a broad network of institutions which can be leveraged for mutual benefit.”
Raptor has built an extensive network in the Latin American Region and actively works with clients to effectively leverage their global relationship and technology for maximum benefit. Teddy Lardos, CEO of Raptor Trading Systems, said: “Working with leading brokers and exchanges in the region provides an excellent opportunity for firms to access global liquidity in an efficient and cost effective manner. Given our strong presence in North America and the growing overlaps in listings between Colombia and North America, we are quite excited to work with Interbolsa and to provide a truly advanced service through are partners in the region.”
Raptor’s extensive Latin American network effectively complements its global network and trading offerings. The Raptor network provides global access to and from the Latin American region and enables clients to leverage Raptor’s advanced trading platforms and services. As one of the largest connectivity providers globally Raptor on average oversees 2.2 billion shares routed through its network each day. Raptor’s offering is differentiated by the flexibility provided by its platforms and an unmatched focus on client service.
Interbolsa S.A. SCB. is the largest securities broker in Colombia and the leading broker on the Colombian Stock exchange with over 29% of the market volume. Interbolsa has offices throughout the Latin American region and provides a wide range of financial services. For more information please visit www.interbolsa.com .
The Colombian Peso is traded as an NDF in the international markets, ForexClear an interbank service launched by LCH Clearnet added the Peso last month, LCH followed CME who added the Peso in July. Bloomberg’s FXGO platofrm also offers FX products such as spot, options, swaps, forwards and NDF’s such as the Colombian Peso.
The Colombian Peso is trading at 1798 against the greenback.
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Colombia has an onshore FX market where domestic firms trade on the Set FX (interbank) platofrm. The currency is relatively liquid (for emerging market countries) with daily trade volumes around $1.5 billion (in the recent BIS survey the Mexican currency recorded ADV of $50 billion), this is compared to offshore volume of $300 to $500 million on the COP.
In October 2011, the Colombian Finance Ministry introduced new limits on FX transactions for local pension funds, barring them from trading more than 2.5% of assets under management within a Colombian peso (COP) Banco de la Republica is Colombia’s central bank and operates a managed floating currency regime In the offshore market, the COP trades on a strictly non-deliverable basis.
The central bank can intervene either to accumulate reserves or to control volatility and uses various mechanisms to do so 80 five-day period. The rule applies to FX spot and
derivative transactions. Its purpose is to limit speculative FX trading by local pension funds.
Colombia has a developed equites market, its stock index the Indice General de la Bolsa de Valores de Colombia is trading at 14,320.19.
Colombia is one of the few nations in the LATAM region that regulates Spot FX. After Europe and North America, Asia was the next best thing for growth and development however participants should not discount the LATAM region, with a large population, and soaring economic growth the region is set to be a challenger.
Forex Magnates research division has written an extensive analysis on the Latin American Forex market, the report gives a breakdown of the major hubs such as Chile which is home to over 5 major domestic FX brokerages including FXCM Chile, other brokers such as GFT and CMC Markets have established white label partners.
Regulatory guidelines, client behaviour and trade volumes are some of the topics addressed in the report.