ROFEX and MATba to Merge into a Single Futures Exchange
- The two exchanges have now received approval from their shareholders, with the merger set to be completed by May 2019.
The Rosario Futures Exchange (ROFEX) and the Mercado a Termino de Buenos Aires (MATba) have received approval from shareholders to merge in 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 Read this Term in the Argentine Republic.
With the necessary approval secured, the two exchanges can now complete the merging process, which started two years ago. According to the statement, the two exchanges are expected to be completely merged by May of 2019.
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.
According to the statement released on Wednesday, MATba held an extraordinary meeting, where almost 80 percent of shareholders were in attendance. At the meeting, the Merger Merger A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d Read this Term was voted upon, and 67.55 percent votes came in favor of the merger.
Before this, ROFEX held a similar meeting on December 11, 2018. During the meeting shareholders voted almost unanimously for the merge, with an 80 percent attendance record, the statement said.
Bolstering Argentina's Capital Markets
Andrés Ponte
Source: ROFEX
The Chairman of ROFEX, Andrés Ponte, said that the merger represents a historical step: “This is great news within a difficult national situation. We have managed to integrate two cultures in order to boost the Argentinian capitals market.”
Nicholson & Cano Abogados acted as the legal consultants during this process. Working as the financial consults during the deal was Columbus MB S.A.
Once the two exchanges are combined, Andrés Ponte, the current chairman of ROFEX will remain as the chairman of the new entity. Marcos Hermansson, the current Chairman at MATba, will become the Vice-Chairman of the entity. Luis Alberto Herrera will be the Treasurer.
Following the extraordinary meeting, Hermansson expressed his gratitude to shareholders, emphasizing the importance of this decision to develop a futures exchange in the Argentine Republic.
The Rosario Futures Exchange (ROFEX) and the Mercado a Termino de Buenos Aires (MATba) have received approval from shareholders to merge in 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 Read this Term in the Argentine Republic.
With the necessary approval secured, the two exchanges can now complete the merging process, which started two years ago. According to the statement, the two exchanges are expected to be completely merged by May of 2019.
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.
According to the statement released on Wednesday, MATba held an extraordinary meeting, where almost 80 percent of shareholders were in attendance. At the meeting, the Merger Merger A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d Read this Term was voted upon, and 67.55 percent votes came in favor of the merger.
Before this, ROFEX held a similar meeting on December 11, 2018. During the meeting shareholders voted almost unanimously for the merge, with an 80 percent attendance record, the statement said.
Bolstering Argentina's Capital Markets
Andrés Ponte
Source: ROFEX
The Chairman of ROFEX, Andrés Ponte, said that the merger represents a historical step: “This is great news within a difficult national situation. We have managed to integrate two cultures in order to boost the Argentinian capitals market.”
Nicholson & Cano Abogados acted as the legal consultants during this process. Working as the financial consults during the deal was Columbus MB S.A.
Once the two exchanges are combined, Andrés Ponte, the current chairman of ROFEX will remain as the chairman of the new entity. Marcos Hermansson, the current Chairman at MATba, will become the Vice-Chairman of the entity. Luis Alberto Herrera will be the Treasurer.
Following the extraordinary meeting, Hermansson expressed his gratitude to shareholders, emphasizing the importance of this decision to develop a futures exchange in the Argentine Republic.