Bolsa de Valores de Panamá

What Bolsa de Valores de Panamá does

Bolsa de Valores de Panamá, legally Bolsa Latinoamericana de Valores and operating under the brand Latinex (Latin American Stock Exchange), is a Panama-based self-regulated stock exchange licensed on March 30, 1990 via Resolution No. CNV 349-90 and supervised by the Superintendency of the Securities Market (SMV). The exchange operates an electronic trading platform with real-time market screens, an order book system, and the proprietary LTXSI Index, serving approximately 30 listed issuers (including ASSA, BGFG, MELO, MSFIA, and GOLD) across three listing segments: the Main Market for domestic equity and debt, the ESG Segment for sustainable issuances, and the Global Market for international listings. Cross-border connectivity is delivered through the iLink international issuance platform and the AMERCA regional integration model, with clearing and settlement provided by its wholly-owned subsidiary Latinclear under the Latinex Holdings umbrella.

The exchange monetizes via three primary streams: trading transaction fees on executed securities, listing fees across Main Market, ESG Segment, and Global Market tiers, and recurring market data subscriptions; specific pricing is not publicly disclosed, though a fee calculator is offered to prospective issuers. Its go-to-market combines direct enterprise engagement (roadshows, trade missions, investor forums such as the 2026 Investors Forum) with education-led demand generation including simulated trading competitions, capacitations, and the bilingual Latinex Podcast. Customers span three primary segments — Corporate Issuers, Investors, and licensed Exchange Members — with designated government and corporate market makers providing liquidity for sovereign and private-sector instruments. The organization employs 11–50 people in Panama City and reports no publicly disclosed revenue.

Name

Bolsa de Valores de Panamá

Legal name

Bolsa Latinoamericana de Valores

Website

https://panabolsa.com

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

11–50 employees

Short description

Bolsa de Valores de Panamá (Latinex) is a Panama-based self-regulated stock exchange licensed in 1990, operating electronic trading, listing, and market data services across Main Market, ESG, and Global Market segments for corporate issuers, investors, and licensed members.

Ownership category

akta.pro rank

Product category

Securities Exchange Services

NAICS

Securities and Commodity Exchanges (5232), Securities and Commodity Exchanges (52321)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Agency & Supranational Bond Trading Platforms (FSAFACAD)

Keywords

• Securities exchange
• Stock exchange services
• Capital markets
• Securities listing
• Market data services

Headquarters

HQ city

Panama City

HQ country

Panama

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Trading Transaction Fees: Fees charged on securities trading transactions executed through the exchange platform
2. Listing Fees: Fees charged to issuers for listing securities on the exchange, including Main Market, ESG Segment, and Global Market listings
3. Market Data Services: Distribution of market statistics, volume data, and financial information to market participants

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Bolsa de Valores de Panamá (operating as Latinex / Bolsa Latinoamericana de Valores) operates as a self-regulated stock exchange providing electronic securities trading, listing services, and real-time market data. It runs three market segments — the Main Market for domestic equity listings, the ESG Segment for sustainable securities, and the Global Market for international listings — alongside market maker programs, the iLink cross-border issuance platform, and proprietary market indices such as the LTXSI.

Product overview

Latinex (Bolsa Latinoamericana de Valores) operates as a self-regulated stock exchange organization offering a multi-segment platform for securities trading and capital formation. The core offering comprises the Main Market for domestic equity listings, the ESG Segment for sustainable investments, and the Global Market for international listings. Supporting services include market data screens (LTXSI Index), market maker programs for both government and corporate securities, and the iLink platform for international cross-border issuances. The exchange also provides educational content through its Latinex Podcast and Capital Market Hub, alongside regional integration initiatives like AMERCA for Latin American market connectivity.

Differentiator

Problem solved

Functional benefit

Brands

• iLink: International linkage program for cross-border securities listings and trading
• AMERCA
• ESG Segment
• LTXSI Index

Products and services

• Main Market Primary equity market for listing and trading securities in Panama, providing an issuance process, cost calculator, statistics, and fee structures for companies seeking to raise capital on the domestic market.
• ESG Segment

Named customers6 records

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and flagship.

• Latinex HoldingscoreOthersParent holding company of the Latinex Group, overseeing the stock exchange operations and subsidiaries.
• LatinclearcoreTechnology or IntegrationCentral securities depository subsidiary providing clearing and settlement services for the exchange.
• Superintendency of the Securities Market (SMV)coreStrategic or Co-development PartnerGovernment regulatory body that supervises and regulates the securities market in Panama, overseeing Latinex as a self-regulated organization.
• AMERCAflagshipStrategic or Co-development PartnerIntegrated regional model for Latin American capital market coordination and integration, promoting cross-border trading and listings.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Nasdaq: Global exchange operator with multi-segment listings, electronic trading, and market data services. Comparable as a benchmark for ESG listing practices and the integration model Latinex pursues through its Global Market.
• NYSE (Intercontinental Exchange): Global incumbent exchange listed on NYSE, comparable as a multi-segment exchange operator with listing, trading, and market data services. Provides a benchmark for global exchange economics and ESG segment structure.
• B3 (Brasil, Bolsa, Balcão): Brazil's principal securities and commodities exchange, comparable as a multi-asset exchange operator with listing, trading, clearing, and market data services. The largest exchange in Latin America and a direct competitor for cross-border issuer flows.
• Bolsa Mexicana de Valores (BMV): Mexico's primary stock exchange operator, directly comparable as a regulated securities exchange serving a Latin American market with listing, trading, and market data services. Significantly larger scale than Latinex but operates in the same regional ecosystem.

Regional players

• Bolsa de Valores de Colombia (BVC): Colombian stock exchange with similar small-to-mid scale Latin American exchange profile, including equity and fixed income trading, listing services, and market data. Latinex and BVC coordinate through AMERCA for regional integration.
• Bolsa de Santiago: Chile's primary stock exchange, comparable as a regional Latin American exchange operator offering equity, fixed income, and derivatives trading with similar size and product scope to Latinex.
• Bolsa de Valores de Lima (BVL): Peruvian stock exchange offering equity and fixed income trading, listing, and market data services. Comparable as a regional Latin American exchange with similar fee model and small-to-mid scale.

Emerging players

• Jamaica Stock Exchange (JSE): Small Caribbean exchange with similar size profile to Latinex, including equity and bond listings, market data, and a junior/small-cap market. Comparable for small emerging market exchange economics.
• Cayman Islands Stock Exchange (CSX): Specialized offshore exchange listing primarily debt and investment fund securities, comparable to Latinex's International Funds and Global Market segments in product specialization.

Others

• Latinclear competitor: Depósito Centralizado de Valores de Colombia (Deceval): Central securities depository in Colombia, comparable to Latinex's Latinclear subsidiary as a regional post-trade infrastructure provider. Relevant for benchmarking the integrated clearing and settlement economics.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@BolsaLatinoamericanadeValores
• Xx.com/BVPanama
• Facebookfacebook.com/BVPanama
• LinkedInlinkedin.com/company/bolsa-de-valores-de-panama

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bolsa de Valores de Panamá