Bolsa de Valores de Colombia

Bolsa de Valores de Colombia

Corporation listed on Bolsa de Valores de Colombia

Juan Pablo Córdoba - CEO

Juan Pablo Córdoba - CEO

Authorities

President
Rafael Aparicio Escallón

Board of Directors
Independent Directors
Sergio Clavijo Vergara
Julián Domínguez Rivera
Carlos Eduardo Jaimes Jaimes
Javier Jaramillo Velásquez
Roberto Junguito Bonnet
Santiago Montenegro Trujillo
Juan Camilo Vallejo Arango

Non-Independent Directors 
Mauricio Rosillo Aura Arcila
Giraldo Germán Salazar Castro
Rafael Aparicio Escallón
Diego Jimenez Posada
Juan Luis Franco Arroyave

CEO
Juan Pablo Córdoba Garcés

Carrera 7 71-21 Torre B Oficina 1201 Bogotá, Colombia

Phone: (571) 313-9800 www.bvc.com.co

Main products and markets

Equity: Shares Repos Securities Lending MILA (Latinamerican Integrated Market) CGM (Colombian Global Market) ETFs

Fixed Income: Government bonds Corporate bonds CDTs, BOCEAS Repos Simultaneous Securities Lendings

Derivatives: Futures on: Government bonds Currencies Shares Indexes Interests Rates Inflation Rates

Currencies: Dolar Spot Dolar Next Day Forwards

Main shareholders

Foreign Investment Funds 39%
Brokerage Firms 16%
Pension Funds 16%
Corporate Portfolio 16%
Natural Persons 5%
Universities 7%
Mutual Funds 1%

Trading hours

Markets
Closing
Opening
Shares
16:00
09:30
X-Stream trading system
New York time
New York time
High Liquidity
Pre-Opening
09:30
09:15
New York time
New York time
OTC
15:55
09:30
New York time
New York time
Closing Auction
16:00
03:55
New York time
New York time
Low Liquidity
Opening Auction
10:00
09:30
New York time
New York time
Suspension Period
15:30
10:00
New York time
New York time
Closing Auction
16:00
15:30
New York time
New York time
Fixed income
MEC Plus trading system
SPOT Session
For purchases and sales on T+ 0
15:40
08:00
SOLO Session
For purchases and sales from T+1 up to 365 days
17:00
08:00
RYS Session
For repos and simultaneous transactions
17:00
08:00
BALO Session
For purchases and sales on T+ 0
15:40
08:00
For purchases and sales on T+ 0
17:00
08:00
DEXT Session
For purchases from T+2 onwards
17:00
08:00
DEES Session
For purchases and sales on T+ 0
15:40
08:00
For purchases and sales on T+ 0
17:00
08:00
RYSE Session
For repos and simultaneous transactions
17:00
08:00
SUBA Session
For purchases
15:40
08:00
DSER Session
For purchases and sales on T+ 0
15:40
08:00
For purchases and sales from T+1 up to 365 days
17:00
08:00
For repos and simultaneous transactions
17:00
08:00
COTI Session
For purchases and sales
13:00
08:00
OTC Electronic Registration System
OTC Registration
18:00
08:00
Primary Issues Registration
For purchases and sales
16:00
08:00
Foreign Exchange Registration
For purchases and sales
18:30
08:00
Derivatives
TES Future
Trading
13:00
08:00
Registration
16:00
08:00
IBR Future
Trading
13:00
08:00
Registration
13:00
08:00
Inflation Future
Trading
13:00
08:00
Registration
13:00
08:00
Foreign Exchange Futures (TRM & TRS)
Trading
16:00
08:00
Registration
16:00
08:00
OIS Future
Trading
13:00
08:00
Registration
16:00
08:00
Shares Futures
Trading
16:00
08:00
New York time

Market data

(Additional information at www.fiabnet.org)
Market Information
Concept
2019
2010
2005
2002*
Total market capitalization (millions of US$)**
133,409
218.327
50.552
10.902
Number of listed companies
68
86
98
110
Stock Index Level
Coleqty
1,145
n.c.
n.c.
n.c.
Colcap
1,662
1.824
n.c.
n.c.
Number of brokerage firms
110
27
39
37
Total value of share trading (Millions of US$)
13,982
28.181
10.490
542
Total value of bond trading (Millions of US$)
312,972
762.069
471.814
114.163
* First year after fusion of Bogota, Medellin and Occidente Exchanges
Market Capitalization - (US$ Millions)
Total value of Share trading - (US$ Millions)
Total value of Fixed Income trading - (US$ Millions)
2019
2018
Derivatives
Notional value of contracts traded (millions of US dollars)
Open interest at year end
Number of contracts traded
Notional value of contracts traded (millions of US dollars)
Open interest at year end
Number of contracts traded
Exchange rate options
0.83
224
1,833
0
0
0
Stock futures
390
13,357
244,663
260
10,872
143,416
Stock Index Futures
75
3,415
23,106
34
282
2,78
Bond futures
3,370
n.d.
40,057
19,101
6,990
194,615
Exchange rate futures
22,255
2,564
500,384
30,948
8,329
723,984
Electric Power Futures
3
220
319
4
292
713
Interest rate futures
9,022
9,117
106,760
n.d.
n.d.
n.d.

Market capitalization split by economic sector

 
Sector
2019
2018
%
%
Industrial
4
56
Mining
32
0
Banking, financial and insurance
45
37
Agricultural
1
0
Retail
1
2
IT
2
0
Utilities
14
1
Other
1
4
Total
100
100
2019

Brief history

 » Bolsa de Valores de Colombia

Bolsa de Valores de Colombia (BVC) is a multi-product Exchange created in 2001 as a result of the merger between the Bogota, Medellin, and Occidente Stock Exchanges.  BVC has drawn from the experience and tradition of more than 80 years of stock market history in Colombia. BVC has been a listed company since 2007, with 18.7 billion outstanding shares, 85% free float, and more than 200 shareholders. BVC manages the trading platforms for the equities, fixed income, and derivatives markets; and through subsidiaries which have been created as a result of strategic alliances with other companies, it also operates the energy commodities and foreign exchange markets in Colombia. Strategically, BVC is the largest shareholder of companies that are part of the whole value chain in the Colombian capital market; its main purpose being to increase the number of products through strategic alliances in Colombia and abroad, thereby creating value for its shareholders. BVC supplemented its strategic planning with broad foresight, with respect to business development in accordance with the objectives of internationalizing the Colombian securities market, developing the value chain, and becoming a high-recall company with close and loyal customer relationships. In terms of international leadership, BVC is a member of the Latin American Integrated Market (MILA), together with Bolsa de Comercio de Santiago, Bolsa de Valores de Lima, and central securities depositories from the three countries. BVC actively participates in industry forums, it is a member of the World Federation of Exchanges (WFE) and it is currently serving as President, and the Ibero-American Federation of Exchanges (FIAB) and it is currently serving as President.

Organization chart

Organization chart

Financial indicators

2016
2015
Net Income (U$S thousands)
9646,55
10128,61
ROE (Net Income/Shareholders’ Equity)
25,52%
22,41%
ROA (Net Income/Assets)
17,29%
16,70%
EBT/Shareholders’ Equity
40,34%
34,16%
EBT/Assets
27,33%
25,47%
 » Bolsa de Valores de Colombia

Clearing, settlement and depositary services

Explanatory table showing the Colombian securities clearing, settlement and custody scheme:

 

Cuadro-BVC-Ingles

 

For the equity market, BVC trade settlement is performed on T+3 through the central securities depository DECEVAL. For the fixed income market, settlement is performed on T+0 through central bank Banco de la República, and central securities depositories DCV and DECEVAL.

Central counterparty - CCP

Bolsa de Valores de Colombia has a Central Counterparty mechanism available for derivatives and foreign exchange markets. For the derivatives market, settlement is performed on T-date through the CCP clearing house Cámara de Riesgo Central de Contraparte (CRCC). For the FX market, settlement is performed on T+1 through the Colombian foreign exchange clearing house Cámara de Compensación de Divisas de Colombia (CCDC).

Member of the following organizations

  • Mercado Integrado Latinoamericano (MILA) – 2010
  • World Federation of Exchanges (WFE) – 2004
  • Federación Iberoamericana de Bolsas (FIAB) – 2001*

* Year of merger between Bogotá, Medellín and Occidente Stock Exchanges, forming Bolsa de Valores de Colombia.

Agreements with other Exchanges

  • BM&FBOVESPA – 2011 - Memorandum of Understanding for  interconnected work in Shares, Fixed Income and Derivatives.
  • TMX-TSX – 2012 - Memorandum of Understanding to share information between Exchanges from Colombia and Canada.

Edited by FIAB Secretariat. The information referred to member exchanges and markets compiled in this Handbook has been provided to FIAB by these entities and is updated up to May of 2019. Every effort has been made to ensure that the information in this edition is accurate at the time of its publication. FIAB Secretariat cannot accept responsibility for errors or omissions.