ROFEX and MATba to Complete Merger by Mid 2019
- Earlier this week, the Board of Directors of the exchanges have signed a Demerger/Merge Definitive Agreement.
The Rosario Futures Exchange (ROFEX) and the Mercado a Termino de Buenos Aires (MATba) are one step closer to completing their merger into a single futures Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv in the Argentine Republic.
According to a statement earlier this week from ROFEX, the Board of Directors of the two exchanges have signed what it calls the Demerger/Merge Definitive Agreement. This is one of the final steps to complete the merger, which ROFEX believes will be completed by mid-year.
The definitive agreement sets out the usual conditions for closing the merger. It also outlines the issuance of MATba’s new shares in exchange for ROFEX’s shares, the statement said.
Columbus Zuma carried out a valuation of the merger’s share swap ratio of MATba and ROFEX, which amounted to $247 million. This valuation has been revalidated by several share purchase transactions of both exchanges.
As Finance Magnates previously reported, the two exchanges received approval from shareholders during December and January, with an almost unanimous decision coming from ROFEX and the majority of MATba shareholders agreeing to the merger.
ROFEX is a futures exchange in Argentina for commodities and other financial products such as exchange and interest rate options. MATba, on the other hand, is a Buenos Aires Futures and Options Exchange.
Following the signing of the agreement, the two exchanges will now request administrative Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a before the CNV (National Securities Commission) and other competent authorities. With the complete merger expected in the middle of this year, ROFEX believes the operational integration will be finished in a few months.
Andrés Ponte to Become Chairman of Combined ROFEX and MATba Exchanges
When the merger has been completed, Andrés Ponte, the current chairman of the futures exchange will become the chairman of the new entity. Marcos Hermansson, the current Chairman at MATba, will become the Vice-Chairman of the entity and Luis Alberto Herrera will be the Treasurer.
The Rosario Futures Exchange (ROFEX) and the Mercado a Termino de Buenos Aires (MATba) are one step closer to completing their merger into a single futures Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv in the Argentine Republic.
According to a statement earlier this week from ROFEX, the Board of Directors of the two exchanges have signed what it calls the Demerger/Merge Definitive Agreement. This is one of the final steps to complete the merger, which ROFEX believes will be completed by mid-year.
The definitive agreement sets out the usual conditions for closing the merger. It also outlines the issuance of MATba’s new shares in exchange for ROFEX’s shares, the statement said.
Columbus Zuma carried out a valuation of the merger’s share swap ratio of MATba and ROFEX, which amounted to $247 million. This valuation has been revalidated by several share purchase transactions of both exchanges.
As Finance Magnates previously reported, the two exchanges received approval from shareholders during December and January, with an almost unanimous decision coming from ROFEX and the majority of MATba shareholders agreeing to the merger.
ROFEX is a futures exchange in Argentina for commodities and other financial products such as exchange and interest rate options. MATba, on the other hand, is a Buenos Aires Futures and Options Exchange.
Following the signing of the agreement, the two exchanges will now request administrative Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a before the CNV (National Securities Commission) and other competent authorities. With the complete merger expected in the middle of this year, ROFEX believes the operational integration will be finished in a few months.
Andrés Ponte to Become Chairman of Combined ROFEX and MATba Exchanges
When the merger has been completed, Andrés Ponte, the current chairman of the futures exchange will become the chairman of the new entity. Marcos Hermansson, the current Chairman at MATba, will become the Vice-Chairman of the entity and Luis Alberto Herrera will be the Treasurer.