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MATBA And ROFEX Sign Merger Commitment

Date 01/11/2018

Representatives of MATba (Mercado Term of Buenos Aires S.A , the Buenos Aires Futures and Options Exchange) and ROFEX (Rosario Futures Exchange) are pleased to announce they have signed a merger agreement. The two exchanges met at the headquarters of MATba and committed to continue with the merger process, in order to operate as a single integrated exchange. In December, both exchanges will hold a special assembly where the merger will be submitted to the shareholders’ vote.

"We are following the global trend of the main stock and futures exchanges, which have undergone an integration process achieving greater efficiency," said Andrés Ponte, chairman of ROFEX.

MATba’s chairman, Marcos Hermansson, said "we believe in synergy and we must rely on joint work for the benefit of the parties and the development of a larger capital market in our country".

The representatives of both exchanges expressed their satisfaction with the progress of the negotiations. The process began on January 4, 2017 with an agreement to interconnect the trading platforms. During the last year, MATba and ROFEX completed the interconnection, which allows members of both Exchanges to have access to all listed products. Additionally, they have launched new contracts together and delisted the overlapping contracts to concentrate the liquidity.

The main objective of the merger is to increase trading volumes and avoid the liquidity segmentation, simplifying trading for members and customers, and thus promoting the growth of the Argentine capital market.

Both ROFEX and MATBA are centennial exchanges and the main venues for trading financial and agricultural futures and options in Argentina.