Colombia Stock Exchange
|Colombia Stock Exchange (Bolsa de Valores de Colombia)|
|Key People||Juan Pablo Cordoba, CEO|
The Colombia Stock Exchange (CSE), known in Spanish as the Bolsa de Valores de Colombia (BVC), was formed in 2001 from a union of three separate regional exchanges and offers trading in fixed income and securities.
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. Although it's called a stock exchange ('bolsa' in Spanish), between 85 percent and 90 percent of the CSE's trading is actually conducted in the bond market, 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 larger markets, Brazil's B3 and the Mexican Stock Exchange.
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. The exchange's other main index product, the COLCAP, measures the CSE's 20 most liquid stocks but limits individual equity weights to 20 percent, compared to the IGBS where a single stock, Ecopetrol, is more than half the index value.
- Juan Pablo Cordoba CEO  Cordoba also told SI News: "We...expect the derivatives market will bring new energy to the Colombian capital markets."
|Year||Total Annual Volume||Percent Change|
John Lothian News Interview, May 2015
Thinking Global: Colombia's Juan Pablo Cordoba Says Global Regulation Hurts Emerging Markets
If you don’t know Juan Pablo Cordoba you probably should. As the CEO of the Bolsa de Valores de Colombia (Colombia Securities Exchange) and chairman of the World Federation of Exchanges, he is one of the exchange executives who has a unique perspective on emerging exchanges such as those in Latin America and beyond. Yet, he also has a firm understanding of the G20 market reforms that have filtered throughout the world in the form of Dodd-Frank, Basel III, MIFID and EMIR.
Cordoba spoke with Jim Kharouf, editor-in-chief of John Lothian News, at the World Federation of Exchanges/IOMA conference in Sao Paulo, Brazil about the challenges and opportunities for the -year-old Colombia exchange, including regional efforts such as MILA, the Latin American Integrated Market. He also provides a credible voice regarding the unintended consequences of applying a host of clearing, capital and compliance hurdles that could stifle the growth of such new markets.
- 2017 Annual Volume Survey. FIA.
- 2018 Annual Volume Survey. Futures Industry.org.
- Bolsa de Valores de Colombia. Wikipedia.
- The Colombia stock market and IGBC index: An overview. Incakolanews.com.
- IGBC. Bloomberg.
- Colombia Stocks May ‘Sustain Valuation,’ Bolsa’s Cordoba Says. Bloomberg.
- Colombia Stock Exchange Wants to Be a Latin American Alternative. Securities Industry News.