The Dominican Republic stock exchange chose BME’s SIBE, which is another step forward in the international strategy of BME.
The Spanish stock exchange’s electronic trading platform, SIBE, today started operations on the Dominican Republic’s stock exchange (BVRD), marked with the attendance of Antonio Zoido and Marino Ginebra, chairmen of BME and BVRD, respectively. Also in attendance were the governor of the Dominican Republic’s Central Bank, Hector Valdez; the head of the stock market regulator, Haivanjoe Cortinas; and the trade commissioner of the Spanish Embassy, Luis Ruiz Arbeloa.
The Dominican Republic’s stock exchange is the fifth Latin American market to use the SIBE electronic trading platform, including the stock exchanges in Caracas, Quito, Montevideo and El Salvador. BME’s market access platform, Visual Trader, is also implemented in Chile.
Besides selling its own equities and derivatives IT systems abroad the Mexican MEXDER derivatives market uses BME’s future and options market trading platform BME is actively developing projects in other Latin American regions.
“The implementation of SIBE on the Dominican Republic’s stock exchange is a step forward in the internationalisation strategy pursued by BME for its products, services and technology. Latin America is a priority for the company and we will continue working on all BME business areas, which comprise a wide range of countries and initiatives,” says Zoido.
The start of operations of the SIBE platform on the Dominican stock exchange follows the completion of work for the adaptation of SIBE to the Dominican market. BME and BVRD signed a technical cooperation and information sharing agreement in 2002, which was followed in 2003 by a SIBE licensing agreement.