The Colombian Stock Exchange (BVC) announced on the afternoon of Wednesday, March 23, that due to connection problems, it had to suspend its operations in the fixed income, equities and derivatives markets around 1:18 in the afternoon.
Following the announcement, the BVC indicated that, at the time of the suspension of the sessions, the current orders were automatically withdrawn, while the shuffled operations, prior to the suspension, remained in force.
The Colombian Stock Exchange also reported that, in the case of the equity market and those species classified as continuous instruments, other instruments and the Colombian global market round, their resumption on the stock exchange would entail the activation of an auction.
One hour after the suspension of operations of the Colombian Stock Exchange, the Colombian capital market operator announced that it has reactivated the operation of its markets. Likewise, he specified that the failures in their connection systems did not compromise their trading systems, since they clarified that it was only a matter of connecting affiliates with the Exchange.
“BVC reports that the Equities market closed under normal conditions within normal hours, after access to the trading platform was restored from 2:35 p.m.” , reported the Colombian Stock Exchange.
Next, the BVC pointed out: “The incident impacted access to the systems and was not associated with the proper functioning of the trading platforms.”
The Colombian Stock Exchange announced that, from March 13 to November 6 of this year, it will modify its stock exchange trading hours, due to the passage of spring time in New York.
Thus, because New York time changed from 02:00 EST (Eastern Standard Time) to 03:00 EDT (Eastern Daylight Time), the Colombian Stock Exchange now opens at 8:30 in the morning and closes trading at 3:00 in the afternoon.
In the following list you will find detailed schedules for each of the operations of the Colombian Stock Exchange:
It should be remembered that this time change takes place twice a year, the first in March, and the second in November, when the winter season begins.
After learning about the change in the schedule of the Colombian Stock Exchange, the newspaper La República reported that, given the “turbulent economic outlook” that is being experienced both locally and internationally, it is expected that the stock market index Msci Colcap (the one that measures the behavior of markets in the country, and therefore determines the expectations of investors) increase to 1,600 points.
In this regard, the economic environment pointed out that the movement of the Colombian Stock Exchange will depend in the coming months on the legislative and presidential elections, in addition to the new round of takeover bid for Sura and Nutresa, the financial results of the issuers, oil prices and the development of the conflict between Russia and Ukraine.
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