Dominican Stock Market to grow 15% to US$11.1B

Santo Domingo.- Dominican Republic’s Stock Market will grow 15% to RD$500.0 billion (US$11.1 billion) in trades this year, Securities Superintendent Gabriel Castro affirmed Thursday.

He said the custody and pay mechanism (Cevaldom) currently has more than RD$600.0 billion.

"This amount entails a great challenge and, secondly, speaks volumes about the number of transactions and respectable volumes handled in the market, which tend to be growing more and more every day," the official said, after receiving third place on e- government from the Presidency’s Office for Information and Communication Technology (OPTIC), which evaluated 96 agencies.

He said the market finances the government as well as other institutions both in pesos and dollars.

He said the market will grow because pension funds need diverse instruments and the stock market is ideal to invest and get adequate returns.

He said last year’s trades exceeded RD$400.0 billion, both the primary and the secondary market.

Castro said the stock market must be based on principles of transparency and credibility, in addition to financial education.

Website

The Securities Superintendent also announced his agency’s new website: www.siv.gob.do, to provide stock market users, financial institutions and the public with quick and transparent information easily.