Argentine financial exchanges ROFEX SA and Mercado A Termino De Buenos Aires SA, or MATBA, officially merged on Aug. 1 and will operate under the name MatbaRofex, El Cronista reported.
The new exchange is valued at US$274 million.
The combined entity will aim for greater coverage in the Argentine futures market and a boost in the liquidity of agricultural products. The operational integration of the two companies should provide a more efficient offer of capital instruments for agribusiness and enable greater scalability for the sector, according to the report.
ROFEX and MATBA have 30% of shareholders in common, which will provide synergy opportunities for MatbaRofex, the report added.