Difference between revisions of "Colombia Stock Exchange"

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The Colombia Stock Exchange was formed in July 2001 through a merger of the country's three regional [[exchange]]s: Bolsa de Bogotá, Bolsa de Medellín and the Bolsa de Occidente in Cali.<ref>{{cite web|url=http://en.wikipedia.org/wiki/Bolsa_de_Valores_de_Colombia|name=Bolsa de Valores de Colombia|org=Wikipedia|date=April 22, 2009}}</ref> Although it's called a stock exchange ('bolsa' in Spanish), between 85% and 90% of the CSE's trading is actually conducted in the [[bond]] market,<ref>{{cite web|url=http://www.incakolanews.blogspot.com/2008/09/colombia-stock-market-and-igbc-index.html|name=The Colombia stock market and IGBC index: An overview|org=Incakolanews.com|date=April 21, 2009}}</ref> where it ranks as the world's fourth-largest market.
The Colombia Stock Exchange was formed in July 2001 through a merger of the country's three regional [[exchange]]s: Bolsa de Bogotá, Bolsa de Medellín and the Bolsa de Occidente in Cali.<ref>{{cite web|url=http://en.wikipedia.org/wiki/Bolsa_de_Valores_de_Colombia|name=Bolsa de Valores de Colombia|org=Wikipedia|date=April 22, 2009}}</ref> Although it's called a stock exchange ('bolsa' in Spanish), between 85% and 90% of the CSE's trading is actually conducted in the [[bond]] market,<ref>{{cite web|url=http://www.incakolanews.blogspot.com/2008/09/colombia-stock-market-and-igbc-index.html|name=The Colombia stock market and IGBC index: An overview|org=Incakolanews.com|date=April 21, 2009}}</ref> where it ranks as the world's fourth-largest market.


Just prior to September 2008's global [[credit crisis]], CSE announced it would start offering [[derivatives]] trading via the [[Nasdaq OM Group]] electronic [[trading platform]]. The move is part of a strategy for the CSE to offer itself as a Latin trading alternative to the region's big dogs, Brazil's [[BM&F Bovespa]] and the [[Mexican Stock Exchange]].  
Just prior to September 2008's global [[credit crisis]], CSE announced it would start offering [[derivatives]] trading via the [[Nasdaq OM]] electronic [[trading platform]]. The move is part of a strategy for the CSE to offer itself as a Latin trading alternative to the region's big dogs, Brazil's [[BM&F Bovespa]] and the [[Mexican Stock Exchange]].  


== Key products ==
== Key products ==

Revision as of 13:10, 26 April 2009

Colombia Stock Exchange (Bolsa de Valores de Colombia)
ColombiaSX.jpg
Founded 2001
Headquarters Bogotá
Key People Chief Executive Juan Pablo Cordoba
Products IGBC Index
Website http://www.bvc.com.co/bvcweb/mostrarpagina.jsp

Template:Infobox Midpage Need Sponsor The Colombia Stock Exchange (CSE), known in Spanish as the Bolsa de Valores de Colombia (BVC), was formed eight years from a union of three separate regional exchanges and is a now one of the world's top trading centers for fixed income securities. The CSE's main stock market benchmark, the IGBC Index, recovered slightly in Q1 2009 after taking a pounding in 2008's financial crisis.

Background[edit]

The Colombia Stock Exchange was formed in July 2001 through a merger of the country's three regional exchanges: Bolsa de Bogotá, Bolsa de Medellín and the Bolsa de Occidente in Cali.[1] Although it's called a stock exchange ('bolsa' in Spanish), between 85% and 90% of the CSE's trading is actually conducted in the bond market,[2] where it ranks as the world's fourth-largest market.

Just prior to September 2008's global credit crisis, CSE announced it would start offering derivatives trading via the Nasdaq OM electronic trading platform. The move is part of a strategy for the CSE to offer itself as a Latin trading alternative to the region's big dogs, Brazil's BM&F Bovespa and the Mexican Stock Exchange.

Key products[edit]

The Colombia Stock Exchange's IGBC Index serves as the overall stock market benchmark and is a capitalization-weighted indicator of Colombia's highest-cap, most liquid stocks.[3] The exchange's other main index product, the COLCAP, measures the CSE's 20 most liquid stocks but limits individual equity weights to 20%, compared to the IGBS where a single stock, Ecopetrol, is more than half the index value.[4]

Key people[edit]

CSE Chief Executive Juan Pablo Cordoba has held the post since March 2005 after a stint as director of Colombia's deposit insurance fund. He worked in Washington, D.C. with the International Monetary Fund (IMF) from 1999 until 2002 and earlier obtained a Ph.D. in economics from the University of Pennsylvania. In a mid-2008 interview with Securities Industry News Cordoba outlined the CSE's competitive strategy of investing in new electronic trading technology to become an advanced global trading market.[5] Cordoba also told SI News: "We...expect the derivatives market will bring new energy to the Colombian capital markets."

Latest news[edit]

Although trading on the CSE recovered somewhat after the IGBC Index lost almost 30% of its value in 2008, analysts don't expect the rally to continue through 2009 as more gloomy local revenue results are expected.[6] Market leader EcoPetrol is predicted to post big profit declines in 2009, unsettling the overall Colombian equities market.

References[edit]