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Market Passport for Banks and Brokers
Market information
Supporting you
Key market information
-
Local currencyColombian
Peso (COP) -
2017 GDPUSD
309bn -
Time zoneGMT
-5 hours -
Numbering
systemISIN
-
Main stock
exchange indexCOLCAP
COLEQTY
COLIR
COLSC
Key market figures
Local market infrastructures
| Equities | Corporate bonds | |
|---|---|---|
| Trading | BVC | BVC – SEN |
| Clearing | BVC | BVC – SEN |
| Settlement and custody | BVC – DECEVAL | BVC – DECEVAL – DCV |
| Cash leg | CUD (Central Bank High Value Payments System) | CUD (Central Bank High Value Payments System) |
Local market authorities and regulators
- Banco de la Republica is the central bank
- Superintendence of Finance (SFC) is the finance regulator
- Direccion de Impuestos y Aduanas Nacionales (DIAN) is the tax authority
- Autorregulador del Mercado de Valores de Colombia (AMV) is a self-regulatory organisation
Market practices (ALL TIMES ARE LOCAL)
Up to T+3
Standard tolerance limit is USD 25.00.
The failing brokerage firm must pay a penalty to its counterparty and another penalty to the Securities Exchange. It is also suspended from trading in the trading session (depending on the kind of failing trade). The Securities Exchange notifies the AMV and the SFC.
There are no formal buy-in procedures. For equities, the stock exchange may initiate an informal buy-in anytime between T+4 and T+5 and pass on the costs to the defaulting counterparty. If an extension to the settlement cycle was requested, the buy-in is initiated on T+6. For fixed income, settlement can be postponed until T+3.
If this maximum timeframe is exceeded without buy-ins, the trade is cancelled, and the BVC or the Central Bank will penalise the failing entity.
Something interesting to know before you visit us in Colombia
There are more different species of birds in Colombia than anywhere else – over 2,000 – which reflects the country’s incredible biodiversity.
BNP Paribas customers benefit from free access to more detailed market information on our NeoLink webportal. Click here to access the Market Profiles or contact your relationship manager.
Supporting you
BNP Paribas Securities Services in Colombia
For the third consecutive year, we lead the Colombian market (2015-2017) in the Global Custodian’s Agent Banks in Emerging Markets (ABEM) Survey.
Our main services
Core
We offer local custody to domestic and foreign institutions. Our core services include settlement, safekeeping, corporate actions, proxy services, cash and collateral management.
Market-specific
- Equity repo settlement through the local CCP since 2017, improving counterparty risk management
- Reporting of forex cash flows of foreign portfolio investors to the Central Bank, in accordance with local regulation
- Global custody access point
What makes us different
- One of the few global custodians offering a large in-house proprietary sub-custody service
- Access to our global custody platforms through a centralised access in Colombia for real-time, multi-lingual operational assistance, improving transactional efficiency
- Contribution to key initiatives designed to improve the Colombian regulatory framework. These have included the authorisation, in 2016, for foreign portfolio investors to use omnibus cash accounts when acting in the Colombian market
SELECTED MARKET RECOGNITION
- Global Custodian Agent Banks in Frontier Markets Survey (2017): Global, Market and Category Outperformer in Colombia
- Global Investor Sub-Custody Survey (2017): ranked first – unweighted
A sound partner
BNP Paribas Securities Services Sociedad Fiduciaria S.A. is a wholly-owned subsidiary of BNP Paribas S.A. employing 38 people in 2018. We have offered securities services in Colombia since 2013 and have attracted both non-resident and domestic clients thanks to our service quality.
Contact
For more information, please contact your relationship manager or
Francesco Rossini, Head of Client Development Hispanic LatAm
francesco.rossini@bnpparibas.com
Something interesting to know before you visit us in Colombia
There are more different species of birds in Colombia than anywhere else – over 2,000 – which reflects the country’s incredible biodiversity.