By Jeremy Grant for Ft.comTwo of Argentina’s largest exchanges, which this month agreed to combine, plan to integrate three other domestic bourses into their group to consolidate trading in Latin America’s third biggest economy.
Rofex, or Mercado a Término de Rosario – and one of the country’s two futures exchanges – is combining with MervaRos, or Mercado de Valores de Rosario, a stock exchange. Both are based in Rosario, north-east of the Argentine capital Buenos Aires.
The move comes as some developing economies are consolidating their exchanges to help attract foreign trading interest and offer trading in equities and derivatives under one roof, as exchanges in most mature economies already do.
Russia this month completed the integration of its two exchanges, while Turkey has initiated moves to consolidate the Istanbul Stock Exchange and the country’s derivatives exchange.
Ismael Caram, chief operating officer of Rofex, which specialises in currency and soyabean derivatives, said that its combination with MervaRos aimed to be “a one-stop shop for Argentinian products”.
“We also have some plans to integrate with other exchanges in Cordoba, Mendoza and Litoral,” he told the Financial Times. Argentina has five stock exchanges, in "Read Full Article"
