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Securities Market Integration Agreement between the Regulatory Authorities of the Republic of El Salvador, Panama, and the Republic of Nicaragua

On October 28, 2022, the financial and securities regulatory authorities of El Salvador (“SSF”), Panama (“SMV”) and Nicaragua (“SIBOIF”) signed an agreement aimed at integrating their securities markets.

This agreement creates an integrated model that, subject to the authorization of stockbrokers, brokerage firms and stockbrokers or equivalent entities in the Member States (“stockbrokers”), will allow them to trade securities using securities registered with a regulatory authority; as well as those that are exempt from registration, in real time and remotely, thus accelerating investments in different jurisdictions.

The agreement adds that the parties’ stock exchanges will establish access mechanisms for exchange operators to operate in their trading systems, being monitored by the financial regulators in the markets in which they operate.

This agreement opens up the possibility of bringing new parties together, which will give further impetus to the region’s market.

Carlos Téllez
García & Bodán