Allaria Ledesma Begins Trading On Latibex - It Is The Main Independent Broker In Merval, With €1.55 Bn Traded In 2004 And A 7% Market Share

Allaria Ledesma & Cía - the largest independent broker in the Buenos Aires stock market (Merval) by market capitalisation – today began operations on Latibex after being admitted as a member of the market. The company’s incorporation opens up a new link between the Argentinian market and Latibex.

Allaria Ledesma will provide liquidity for the Argentinian shares listed on Latibex. The company will have the opportunity to act as a specialist for these stocks, which could facilitate the arrival of new Argentinian shares on the market.

“The search for better trading venues is one of the ways of promoting the integration of our companies worldwide, bringing them closer to new financing sources”, said Ernesto Allaria, Chairman of the company. Antonio Zoido, Chairman of Bolsas y Mercados Españoles (BME) argued that “the incorporation of Allaria Ledesma is a new step forward in linking Latibex with Latin American stock markets”.

Allaria Ledesma will carry out trades using the software developed by Visual Trader, a BME subsidiary. The settlement of the company’s operations will be provided by Deutsche Bank.

Allaria Ledesma & Cía Sociedad de Bolsa was created through the association of a group of market specialists in the Argentinian capital market and was formally incorporated in May 1995. Nevertheless the founder of the company set up shop as a stock market intermediary in 1968.