With the purpose of moving towards the consolidation of Argentine derivatives and capital markets, ROFEX (Mercado a Término de Rosario SA) and MERVAROS (Mercado de Valores de Rosario SA), have subscribed a letter of intent to begin a merging process.
The purpose of this action is to complement the tools available in both markets, through the increase and diversification of the products offered to clients and their lines of business.
“Our clients will perceive an important benefit from the integration of securities and derivatives trading as well as from the participation of the agricultural and financial sector”, pointed out ROFEX´s president, Luis B. Ossola.
In this respect, MERVAROS´s president, Carlos Rodriguez Ansaldi stated that, “we aim at providing more liquidity and depth to markets and their trading, on the basis of the successful experiences of market integration worldwide”.
“The decision of the Mercado de Valores de Rosario and the Mercado a Término de Rosario is aligned with the strategy of the Comisión Nacional de Valores (National Securities Commission) to encourage market integration", stated Alejandro Vanoli, president of the Comisión Nacional de Valores. Along these lines, the official declared that, “the markets ´integration breaks up the historical Argentine market fragmentation and is aligned with the global trend of market integration; it improves price discovery, increases liquidity and transparency and minimizes costs by fostering a better intermediation between saving and investment, which promotes real economy financing and the country’s growth”.
Both ROFEX and MERVAROS are markets affiliated to the Rosario Board of Trade (BCR).