Bolsa de Valores de Colombia (BVC), Toronto Stock Exchange (TSX) and TSX Venture Exchange today announced the signing of a Memorandum of Understanding (MoU) to promote cooperation among the securities markets of Colombia and Canada.
Under the MoU, Toronto Stock Exchange, TSX Venture Exchange and Bolsa de Valores de Colombia will cooperate to share certain information and to undertake certain activities together to facilitate the dual listing of companies in each other's jurisdiction and assist each other with understanding the regime, process and rules for listing and trading securities in each other's jurisdiction. The exchanges will also explore and develop joint marketing opportunities.
Juan Pablo Cordoba, President of the BVC, was very pleased with the signing of the MoU and explained that "it seeks to bring together Colombian and Canadian markets, and also includes the investor community and issuers from both countries, who have shown a great enthusiasm for taking advantage of opportunities that exist not only in exploration and production of the oil industry, but in all sectors of the economy".
"We are extremely pleased to add this MoU to our well-established commitment to the Latin American region," said Ungad Chadda, Senior Vice President, Toronto Stock Exchange. "We look forward to strengthening our relationship with the Colombian capital markets."
As of April 30, 2012, there are five dual listings between Toronto Stock Exchange and Bolsa de Valores de Colombia. There are 19 companies listed on Toronto Stock Exchange and 43 companies listed on TSX Venture Exchange with operations in Colombia.