Dominican Bolsa implements advanced trading system
Dominicantoday.com, Santo Domingo , October 9 th 2007
The Spanish Bolsa Interconnection System (SIBE) began to operate in the Dominican Republic stock market (BOLSARD) which makes the country one of five markets in Latin America which have adopted the trading platform.
Spanish Bolsa system also provides advice, market, fixed and variable yield data, and operates in the region, in addition to exporting its technological systems.
Spanish Bolsa president Antonio Zoido said the implementation of the SIBE in the Dominican Bolsa is one more step in its international strategy to market its products, services and technology. He said Latin America is a priority and they'll continue to develop activities in all areas of the stock markets business.
Dominican Bolsa executive vice president Darys Estrella said by adopting the SIBE, the country, “takes a giant leap in the development of its trading system.”
She said the Bolsa's operations in the primary market are of RD$3.33 billion (US$100 million) yearly, with accumulated secondary market operations of RD$6.66 billion (US$200 million) yearly, for an annual total of RD$9.99 billion (US$300 million) transacted.
For market superintendent Haivanjoe Ng Cortiñas, the new system will provide even more transparency for trading.
Dominican Bolsa president Marino Ginebra said many companies in the country are ready to go public, especially those which are highly-regulated, including banks, insurance companies, and even the state-owned energy-distributors.
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