Bolsa de Valores de Colombia (BVC), the official Colombia Securities Exchange based in Bogota, has continued to increase its draw to global investors by certifying SunGard to offer access through Valdi, its electronic trading suite.
International investors have been increasingly interested in Colombia as an alternative to other more over-exposed Latin American markets. The country is becoming increasingly attractive due to greater political stabilisation, increased exploitation of natural resources and the resurgence of a strong domestic industrial sector.
Offering equities, fixed income, derivatives and structured products, BVC was one of the ten best performing exchanges worldwide in 2010, with a 33.6% growth rate.
Through the Mercado Integrado Latino Americano (MILA) initiative, investors and brokers in Colombia can also access other Andean exchanges, Bolsa de Comercio de Santiago and Bolsa de Valores de Lima.
BVC’s certification of Valdi, brings to financial institutions interested in the Colombian market a range of electronic trading capabilities, which includes program and algorithmic trading and multi-exchange order routing.
BVC is the sixth Latin American market to be supported by SunGard’s Valdi trading solutions, which facilitates trading on more than 170 markets worldwide. The multi-asset class Valdi platform already offers access to equities and derivatives markets in Brazil, Chile and Mexico.
“It is important for the Bolsa de Valores de Colombia to facilitate access to its marketplace through collaborations with international technology providers such as SunGard,” said Juan Pablo Córdoba, president of Bolsa de Valores de Colombia. “We are confident that SunGard will help us expand our global reach by providing electronic trading tools to investors looking to participate in the Colombian markets, helping us grow our business.”
For global brokers who do not have membership at local exchanges, access to Latin American markets can be quite difficult without using local brokers, said Philippe Carré, global head of connectivity of SunGard’s global trading business. “BVC is a very client-driven exchange which aims to facilitate better access to the market,” said Carré.
SunGard has had a regional presence in Latin America for over 10 years, helping Latin American trading firms capitalise on the change and growth in the region by providing firms with trading software, market data, global connectivity, risk management solutions and low latency execution services.
“We are delighted to add Colombia to the markets we connect to in Latin America and we are confident this connection will help our customers expand their business,” said Carré.