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Euroclear, Latin Clear announce Panama partnership
02 April 2014
Deal to open Panama to international investors
Euroclear Bank and Central Latinoamericana de Valores (Latin
Clear), the CSD of Panama are launching an international link
sponsored by Panama’s Ministry of Economy and
Finance (MEF) to enable global investors to participate in
Panama’s capital markets and strengthen the
Republic of Panama’s position as a key financial
centre for Latin America.
MEF Viceminister of Finance, Dario Espinosa said,
"Panama’s economy has the highest rate of growth
in Latin America. This initiative will allow Panama to access a
broader base of foreign investors and diversify our funding
sources. The international link with Euroclear will be a
defining moment in the way Panama’s issuers
connect with domestic and international investors."
Stephan Pouyat, global head of international markets for
Euroclear, explained that the international link makes use of a
single post-trade platform for both domestic and international
investors, thus creating a single pool of liquidity.
Ivan Diaz, chief executive officer & general manager of
Latin Clear added, "Panama has a reputation for capital market
innovation in Latin America.
This partnership with Euroclear connects our market to all
parts of the globe. We will be able to offer our investors and
issuers access to a broad range of international counterparties
while simultaneously offering investors from across the globe
easy access to Panamanian government debt."
"We plan to add corporate debt and equities as well. We believe
that this international link can act as a springboard for
Panama, increasing scalability and ensuring that our capital
markets can seamlessly adapt to the levels of economic growth
that our country has witnessed over the past decade. This new
initiative represents an important milestone for the Panamanian
securities market and for the region."