BME, BBV start up Bolivia stock exchange’s trading platform
Bolsa Boliviana de Valores (BBV) and Bolsas y Mercados Españoles (BME) have started up a new trading platform for the Bolivian stock exchange.
The new IT system, called Smart BBV, was designed and developed by the Spanish exchange operator BME and supports several markets operated by the group, including equities and fixed income.
The start-up of Smart BBV helps the Bolivian stock market move forward with the technological and functional upgrade of its markets for financial instruments. BME helped with the roll-out, as well as maintenance and support.
The project strengthens BME’s commitment to Latin American markets in their internationalisation drive. BME has been involved in similar projects over the past few years, implementing IT solutions in Venezuela, Colombia, Chile, México, El Salvador, the Dominican Republic, Ecuador and Uruguay.
“Embarking on this ambitious project marks a step forward in our strategy to become the natural partner of Latin America’s stock exchanges and cements our commitment to the region,” said
Ramón Adarraga, head of International Coordination.
Last week, BME reportedly asked for authorisation to launch a platform for mutual funds in Spain. The authorisation was requested to the Spanish financial regulator CNMV and the new fund platform is expected to be launched by the end of this year.
The new fund platform project was announced in 2015, when BME said it planned to set up a subscription, redemption and transfer fund platform in order to diversify its business.
The company said the platform would be open to all types of investors, market members and collective investment institutions. It would also be compatible with other fund distribution platforms in Spain, said the BME.
The initiative is aimed at national and international mutual funds that are registered with the Spanish regulator, but so far only those whose currency is the euro will be allowed to register, Beatriz Alonso, deputy director of equities at BME told local media in April this year.