Euroclear Bank and Central Latinoamericana de Valores (Latin Clear) – the Central Securities Depository (CSD) of Panama – will this month launch 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 Latin American financial centre.
“We are proud to say that Panama’s economy has the highest rate of growth in Latin America,” said MEF viceminister of finance, Darío Espinosa. “In order to continue to contribute to this stellar economic performance, and to consolidate our position as a regional financial services hub, we are very pleased to be part of this initiative, led by Euroclear and Latin Clear, which 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, added: “This innovative Euroclear international link makes use of a single post-trade platform for both domestic and international investors, thus creating a single pool of liquidity. “
Iván Díaz, chief executive officer (CEO) and general manager of Latin Clear commented: “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.”
With the launch of the link with Latin Clear, Euroclear will have established links with CSDs in 46 countries across the globe.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.