The boards of directors of Mercado Abierto Electrónico SA (MAE) and Matba Rofex SA Un (Matba Rofex) unanimously approved continuing the process of merging the markets.
Following the announcement of the integration in early July, MAE and Matba Rofex They are moving forward in the integration process and signed the Prior Merger Commitment, which was unanimously approved by their Boards of Directors. This represents a fundamental step towards the integration of both institutions which, if approved in their respective assemblies, will lead to the creation of a new company called A3 Mercados SA (A3).
A3 is projected as a market born from the shared vision of three key players in the local capital market: MAE, MATba and ROFEX. The “A” refers to Argentina, while the “3” symbolizes the union of these historical entities whose values will continue to be sustained. These values have been pillars of the individual trajectory of each company and will continue to form an essential part of the identity of the new company.
MAE and Matba Rofex: what does this integration process mean?
Robert Olson, The current president of MAE, who will be proposed to preside over A3, said: “With this merger, we are not only consolidating our strengths, but also generating a more robust, diversified and competitive market that will allow us to offer innovative and higher quality solutions to all participants. This integration represents a crucial step for the growth of the Argentine capital market, by enhancing liquidity. and simplify negotiation processes.
For his part, Andrés Ponte, current president of MtR, who would occupy the vice presidency of the new market, stated that “The consolidation of the Argentine capital market is an old dream that we are getting closer to achieving every day.”
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“The integration will accelerate the development of the local capital market, adding the best of both entities. We will provide greater efficiency and better technology to our users and greater value to shareholders,” said Diego Fernández, who will be CEO of A3. Tomás Godino, who will be Controller of the merged company, emphasized the distribution of the new market: “We hope to consolidate ourselves as a market with a national geographic reach, with the possibility of generating strong product synergies between the agricultural, financial and banking sectors.”
In the coming months, the boards of directors will have to approve the integration of both entities. A3 is expected to begin operations as an integrated market in early 2025.
Source: Ambito
