Diapositiva 1 - Bolsa Mercantil

BMC BOLSA MERCANTIL DE COLOMBIA S.A.
(Colombian Mercantile Exchange)
Forjando la institucionalidad nacional del mercado bursátil de commodities
¿What is the Colombian Mercantile Exchange?
The BMC Colombian Mercantile Exchange, is a semi-public company
subject to the rules of private law, created in 1979. It is the only
forum for negotiating agricultural products and other commodities, as
well as financial instruments such as Repurchase Agreement -Repo- of
Warehouse Depositary Receipts and Receivables Sales, derivatives
and other contracts tradable in commodity exchanges. (Act 964 of
2005 - Decree 2555 of 2010).
History of Colombian Mercantile Exchange
Before
Now
2010 - Present
1979 - 2010
The Colombian Mercantile Exchange changed its name from National
Agricultural Exchange (BNA) to Colombian Mercantile Exchange in
2010 (BMC), due to the increase in trading of non agricultural
commodities in the exchange.
Since
January 2014, the BMC
exchange became the Natural Gas
Market Administrator in Colombia.
Self Regulation
The BMC Exchange as infrastructure provider is supervised by the Financial
Superintendence of Colombia, and is a self-regulated organization for the purpose of
preserving the integrity of the markets managed by the Exchange, the
professionalization of the intermediaries and maintaining a transparent negotiation
market, through the BMC Monitoring Department and the BMC Disciplinary Chamber.
Monitoring Department
Disciplinary Chamber
It supervises
behaviors and verifies
compliance with the
rules by brokerage
firms members of the
Exchange.
Empowered to impose
sanctions on brokerage
firms members and
people connected with
them
¿What could be traded at BMC?
Agricultural or Livestock goods, products or commodities
Mining goods, products or commodities
Fishing goods, products or commodities
Industrial destination goods, products or commodities
Energy Commodities
Hydrocarbons and derivatives
Carbon Emission Market
Commodities for public purchases
Securities, rights, derivatives and contracts
Public Procurement
Market
Financial Instruments
Markets
Invoice Registry
BMC PORTFOLIO
Physical Market
BMC Portfolio
BMC Portfolio
Invoice Registry
OMO’s
Open Market Operations
Physical Products
with delivery
Physical Market
Spot
Forward
Financial Products
MCP - Public
Procurement Market
Spot
Programs with the
Ministry of
Agriculture
Forward
Repurchase´s of
Warehouse
Depositary Receipt
Invoice Registry
Receivable Registry
It is a mechanism that allows sellers of
goods or products from agriculture or
livestock without industrial processing
or primary industrial processing, to
defer payment of the withholding tax,
under the enshrined in Decree 574 of
2002.
These operations can be executed by
brokerage and can be made without
being physically present at the BMC.
Invoice Registry
Receivable Registry – Trading Volume
$ 50,0
$ 44,0
$ 42,2
$ 45,0
$ 39,2 $ 39,6
$ 40,0
$ 35,0
$ 33,2
$ 34,3
$ 35,5
$ 30,6
$ 30,0
$ 26,3
$COP
$ 25,0
COLOMBIAN
PESO
$ 20,0
$ 22,6
$ 19,7
$ 18,8
$ 15,8 $ 15,6
$ 14,7 $ 15,3
$ 15,3
$ 15,0
$ 12,9
$ 13,8 $ 12,8
$ 10,0
$ 12,8
$ 7,3
$ 5,0
$ 1,3
$ 2,5
$ 3,3
$ 4,6
$ 4,3
$ 5,1
$ 0,0
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
OMO´S – Open Market Operations
Operations are carried out in a
market scenario, called the
Business Roundtable, managed
by the BMC, where authorized
brokers
members conduct
their business operations on
behalf of their clients, in a
open outcry market.
OMO´S – Open Market Operations
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2014 OMO´S – Open Market Operations
During 2014, the total
traded volume in the Open
Market Operations
(OMO´S) was COP $777
thousand millions.
OMO´S 2014
FINANCIAL
14%
PHYSCIAL
9%
(MCP) -PUBLIC PROCUREMENT
MARKET 77%
12
PHYSICAL PRODUCT MARKET OPERATIONS
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Physical Products Market Operations
By trading in this market, the clients are able to exchange goods, agricultural products, or other commodities.
Physical Productos Markets
Spot Market: Operations where goods or
products are delivered up to maximum
30 calendar days after trading date.
Forward Market: Operation where goods
and products are delivered 30 calendar
days or more after trading date.
Spot Market
Forward Market
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Public Procurement Market – PPM (MCP)
Is the specialized market where
public entities purchasing needs
are fulfilled through a process
of abbreviated selection.
MCP (PPM) a BMC trade
Objective: Manage auctions of
standardized goods allowed to
be traded at BMC Markets
Public Procurement Market
15
¿What are the Public Procurement Market PPM
Rules –(MCP)
Act 1150 of 2007 developed through decree 1510 of 2013 allows state entities to
purchase goods and services through the process of abbreviated selection in a
commodity exchange.
The negotiation process is governed under the securities laws and the Private Law, which
allows quicker and stricter control of the operation. It also provides supervision by
brokers to providers.
Act 80 of 1993
Act 1150 of 2007
Decree 1510 of 2013
Procedures for Selecting
Selection modes according to Decree 1510 of 2013
AbbreviatedAbreviada
Selection
Selección
REVERSE
AUCTION
COMMODITIE
EXCHANGE
PRICE
FRAMEWORK
AGREEMENT
Only through the abbreviated
selection may be acquired
goods and services.
Licitación
Bidding
Pública
Concurso
Merits de
Contest
Méritos
Complex object
and high
funding,
consulting,
design and
construction
Concession,
etc.
- Proyectos
Architecture
de
Arquitectura
Projects,
Consulting
;
Servicios
and otherde
consultoría
projects. y
Proyectos.
Contratación
Direct Contracting
Directa
- Hiring for:
Goods and services in the
defense sector that need
reserves for acquisition,
development of scientific and
technological activities;
Inter-administrative contracts;
Trusteeship, where there is no
plurality of bidders in the
market; Execution of artwork
that can be entrusted only to
certain individuals, the rental or
purchase of property.
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Products that can be negotiated in the Public
Procurement Market
Transportation
and security
services
Technology and
Furniture
Toiletery and
cafeteria
products and
services
Products of
Agroindustrial
origin and / or
destination
Apparel
Provisions
Fuels and
lubricants.
Food and grocery
Office supplies.
Construction
Material
Currently there are over 4,146 products registered in the BMC
Registration System approved for trading on the exchange.
Source: SIB Bolsa Mercantil de Colombia S.A.
Public Procurement Market PPM (MCP)
2006 - 2014
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•
•
•
Total traded volume: COP$3.9 billions
Number of Operations: 36.937
Number of Public Agencies & Entities: 128
Number of Contractors: 1.062
Traded volume by year
700.000
606.131
$COP MILLIONS
600.000
538.226
475.542
500.000
382.721
400.000
424.058
404.909
299.634
300.000
200.000
603.541
179.139
100.000
2006
2007
Source: SIB Bolsa Mercantil de Colombia S.A.
2008
2009
2010
2011
2012
2013
2014
Public Procurement Market Background
The National Apprenticeship Service SENA, made ​the purchase of computer equipment in the
form of bid amount. The initial amounts budgeted were 1943 and 593 for desktops and laptops
respectively. The final negotiation was closed by 2825 units for desktops, achieving buy 882
more units represented by 45% of more and laptops are able to acquire 939 units 339 units
being able to obtain more, represented by 57% of more teams.
3000
2825
2500
45%
Product units
2000
1943
1500
Cantidad Minima
1000
57%
932
593
500
0
Computadores de escritorio
Portátiles
Source: Exchange Information System SIB – Colombia Mercantile Exchange
Cantidades Negociadas
Financial Products
These instruments are intended
to
provide
investment
and
financing opportunities to the
market participants.
This mode allows the participation
of producers and marketers
interested in obtaining funding,
and investors interested in getting
profits on an investment.
Financial Products
Repurchase Agreeement –Repo- of Warehouse
Depositary Receipts
It is the simultaneous sell and reacquisition
of depositary receipt, issued by a General
Depositary Warehouse on a given product.
It allows the owner of the stored product to
obtain funding through the sell of the
depositary receipt´s with the commitment
to repurchase it, and that the investor find
competitive alternatives for investing the
resources through markets managed by the
BMC.
Repo of Warehouse
Depositary Receipts
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Repurchase Agreeement –Repo- over Warehouse
Depositary Receipts- Volume
Traded volume by year
300.000
242.505
COP Millions
250.000
200.000
181.402 182.744
192.772
150.000
108.018 106.330
100.000
91.428
95.950
102.072
2012
2013
2014
50.000
-
2006
2007
2008
2009
2010
2011
THANK YOU
Offices of the Colombian Mercantile Exchange, Bogotá
Contact us:
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Calle 113 No. 7-21 Torre A, Piso 15, Bogotá , Colombia
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Telphone: (+57 1) 629 25 29 Customer Service line: (+57) 018000 11 30 43
www.bolsamercantil.com.co email: [email protected]
Follow us: Twitter: @bolsamercantil, Facebook: Bolsa Mercantil BMC
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All rights reserved , Bolsa mercantil de Colombia S.A 2014