Rosario Commodity Markets and Stock Exchange to merge
Rosario Commodity Markets and Rosario Stock Exchange to merge
The Rosario Futures Market (ROFEX) and Rosario stock exchange (MervaRos) have made an agreement to establish a market offering the most diversified product range in the country.
The merger will be brought before a special meeting of shareholders in early March 2012 and, once approved, 'ROFEX-MVRSecurities and Futures SA' will be born. It will bring together agricultural commodities (soybeans, wheat and corn), gold, and oil futures operations, which today are run by ROFEX, with equities, debt securities and other products of the stock market run by MervaRos.
"The integration of securities and derivatives operations will bring a significant benefit to our customers and the financial and agriculture markets in general”,said ROFEX president, Luis Ossola, adding that he expected “broad support from our shareholder” ' in the March assembly.
The merger represents a significant benefit to the operators of both markets who will become members of both and will operate "with great benefits through the same platform,".
The announcement was released on Friday afternoon (16 December). The president of the National Securities Commission (CNV), Alejandro Vanoli, who was present said that "the decision ROFEX and Rosario Stock Exchange is aligned with the strategy of the national Securities Commission of promoting the integration of the markets. "
At the same time, ROFEX has launched the first trading of his recently announced contract Soy Chicago for which producers can start to trade directly in this market.