Friday, August 5, 2011

Daniel Chavez Moran: Market News in Latin America

Understanding that inter-American cooperation is critical for Latin America’s success in a global economy, philanthropist Daniel Chavez Moran notes this recent market news published in the Wall Street Journal about Brazil’s and Colombia’s stock and future exchanges signing a partnership accord:

"Brazil's BM&FBOVESPA (BVMF3.BR), which runs Brazil's main stock and futures exchange, and its Colombia counterpart signed a memorandum of understanding in order to evaluate alternatives focused on a possible interconnection of their equities, fixed income and derivatives markets to promote the development of the capital markets," BM&FBOVESPA said over the weekend.  
"With the signature of a memorandum of understanding, the two exchanges are keen on starting an exploration phase, that will establish a plan that would make feasible the interconnection of securities trading platforms in both countries, which allows the bid and ask order routing," said BM&FBovespa.  
"The purpose is to explore the benefits and value opportunities in both markets and this is the first step of the process; the modalities and the date for the happening of the interconnection will be discussed and established by the exchanges in the future," it added.

Daniel Chavez Moran founded a conglomerate of companies that actively participated in the socioeconomic development of Mexico and Latin America through the strategic development and construction of new tourist destinations, hotel operations, urban infrastructure, roadways, real estate developments and a new international airport. Though now retired, Chavez Moran now dedicates his time to his family and the philanthropic work of the Vidanta Foundation to help create a sustainable economic future for the 580 million people of Latin America. Read more about the work of Daniel Chavez Moran.

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