Latinex Group

Latinex Group

Corporation. Member of Latinex Holdings, Inc., listed on Bolsa de Valores de Panamá.

Directors of  BVP

Directors of BVP

Authorities

Chairman
Arturo Gerbaud

Vice-Chairman
Roberto Brenes P.

Treasurer
Carlos Mendoza

Secretary
Mónica García de Paredes de Chapman

Directors
Gary Chong-Hon
Jorge Vallarino
Ana Graciela Méndez
Christine Müller
Manuel Alemán
José Montero
María del Carmen de Diego

Executive President
Olga Cantillo

Av. Federico Boyd y Calle 49 Edificio Bolsa de Valores de Panamá, Panamá

Phone: (5079) 269 1966 – www.latinexbolsa.com/en/

Main products and markets

  • Shares
  • Fixed Income
  • Reports
  • Green Bonds, Social Bonds and Sustainable Bonds

Main shareholders

  • Latinex Holdings Inc.

Trading hours

Market/product
Schedule
All instruments
10:00 – 15:00
Market Makers
10:00 – 13:00
 

Brief history

 » Latinex Group

1989
Foundation of Bolsa de Valores de Panama

Market data

(Additional information at www.fiabnet.org)
Item
2019
2015
2010
2005
Total market capitalization (millions of US$)
17,274
13,174
8,348
6,62
Number of listed companies
33
31
34
27
Stock Index Level
BVPSI
451.74
403
261.69
147.74
Number of brokerage companies (members)
30
25
19
15
Total value of share trading (Millions of US$)
437
247
322
301
Total value of bond trading (Millions of US$)
6,003
3,095
2.176
1.323
Market Capitalization - (US$ Millions)
Total value of Share trading - (US$ Millions)
Total value of Fixed Income trading - (US$ Millions)

Market capitalization split by economic sector

 
Sector
2019
2018
%
%
Banking
84
81
Insurance
7
7
IT
5
6
Construction
1
1
Business
1
2
Other
2
3
Total
100
100
2019

Organization chart

Organization chart

Financial indicators

2019
2018
Net Income (U$S thousands)
1,520.8
1,192.7
ROE (Net Income/shareholders’ Equity)
189%
136%
ROA (Net Income/Assets)
44%
36%
EBT/Shareholders’ equity
250%
180%
EBT/Assets
58%
48%
 » Latinex Group

Clearing, settlement and depositary services

The liquidation model used by Latin Clear today complies with the main recommendations of the Bank for International Settlements (BIS) and others established by the International Securities Services Association (ISSA), among them, to safeguard participants from financial risks, eliminating Operational risk, reducing cost, unifying security standards and creating efficient links in the market. Latin clear uses BIS settlement model 2, of delivery against payment, which corresponds to cash netting and transaction per transaction in terms of values. The clearing and settlement period is made in T + 2. In T + 1 Latin Clear freeze titles and at the beginning of T + 2 the process is completed, through the Panama National Bank’s Clearing House. Each participant has a settlement bank that authorizes Latin Clear, through a contract, to debit them daily through this chamber to carry out its operations. Every day the Panama Stock Exchange (BVP) sends the information of the transactions and update of prices to Latin Clear through an electronic batch. The confirmation of the transactions is given in T and the BVP is responsible for making the confirmations of the stock exchange operations. The confirmations of over-the-counter transactions are made by Latin Clear in T. Latin Clear is also responsible for the deposit of securities.

Central counterparty - CCP

A Central Counterparty mechanism is not available.

Member of the following organizations

  • Association of National Numbering Agencies   (ANNA) – 1995
  • Bolsas de Comercio de Centroamérica y el Caribe  (BOLCEN) – 1990
  • Federación Iberoamericana de Bolsas (FIAB) – 2005
  • World Federation of Exchanges (WFE) – 1997- (Correspondent Exchange)
  • America’s Central Securities Depositories Association (ACSDA)
  • Climate Bonds Initiative (CBI)
  • Task Force on Climate-related Financial Disclosures (TCFD)
  • Sustainable Stock Exchanges (SSE)
  • Instituto de Gobierno Corporativo Panamá (IGCP)
  • Grupo de Trabajo de Finanzas Sostenibles (GTFS)

Agreements with other Exchanges

  • Bolsa de Guayaquil – 2011 – Mutual Cooperation Agreement.
  • Bolsa Nacional de Valores de Costa Rica y Bolsa de Valores de El Salvador – 2007 – Memorandum of Understanding.
  • Bolsa de Nicaragua – 2007 – Memorandum of Understanding.
  • Bolsas de Valores y Depositarias de El Salvador – Remote Trading agreement
  • Regional Depository Custody chains with countries as Costa Rica, Nicaragua, Guatemala and El Salvador

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 July 2023. 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.