CMA, a leading market data and trading services provider for financial markets, announced that it has certified Latin America’s leading stock exchange, the Bolsa de Valores de Colombia (BVC).
The certification upgrades the BVC to international standards, as the exchange looks to compete with global exchanges for foreign inflows.
CMA, a Sao Palo based organization, provides market data to the largest exchanges in the Latin American region. The certification means Colombia’s main financial trading exchange, will provide price data and trade execution on the BVC to an international trader community. The CMA offers a front-end trading platform, the CMA Series 4. In addition, the CMA solution provides traders with direct market access to the exchange.
7 Pharma Stocks from EuropeFX You Need to Know for a Covid-19 VaccineGo to article >>
Juan Pablo Córdoba, President of Bolsa de Valores de Colombia, commented on the certification in a statement to the media, saying: “It is very important for the Colombian market to advance its globalization, and what better way to do so, than by working with first-rate tools and allies. We are certain that CMA will be key to this mission, but particularly so, in creating better alternatives for access for investors who want to invest in Colombia.”
Mario Chuman, General Manager of CMA in New York, said:”Certifying with the Bolsa was important for the CMA OMS platform a couple of years ago. Since then, we have added more brokers and are very excited about the new offerings the exchange has rolled out for giving more access. Providing market data and trading solutions for the equities, derivatives and fixed income markets, along with currency spot rates are all available on CMA terminals. The wide range of financial market applications, demonstrate the level of commitment CMA has for its customers in Colombia, and for trading from abroad.”
The BVC has a mature and stable fixed income market, average daily trade volume is $3.5 billion according to data compiled by the exchange. The exchange has been pursuing developments in the equities and derivatives market. The average daily trade volume in equities is $170 million.
The BVC has positioned itself as a regional hub, in 2010 the firm signed up with Rapid Addition to enhance low latency connectivity to the exchange, and in addition, the exchange signed up with SunGard’s Valdi system for integration in 2011.