The
transactions which can be carried out on the Lima Stock Exchange are
the following:
A.
Cash Transaction:
Cash transaction are those through which stocks and securities are traded
at market prices through the acceptance of bids which must be settled
within 72 hours (T+3) as from the date of the transaction.
This
settlement may be carried out in advance upon agreement between the
parties concerned.
B.
Forward Transaction :
Forward transaction are those in which the purchaser and the buyer agree
on a future date to settle the operation, and are willing to receive
or pay a surcharge on the spot market price.
The
terms agreed upon for this type of transaction are generally 30, 60
and 90 days, and not exceeding 180 days.
C.
Report Transaction:
These are Transaction carried out with stock and obligations and mean
two simultaneous transaction, one which is spot where a purchaser acquires
a security from a buyer, and a second operation whereby both parties
agree to resell or repurchase the same security, in the future within
an agreed period and at an agreed price.
On
the Lima Stock Exchange, report operations may be either in national
currency (Soles) or foreign currency (Dollars). Similarly, there is
a third alternative called secondary report operations (REPOS) whose
main objective is to provide liquidity to the purchasing investor allowing
him to transfer his position to a new participant before the maturity
date of the operation in exchange for a rate equivalent to that of the
market.
D.
Double Forward Spot Transaction
These transaction are similar to the report transaction, with the differences
lying in the type of securities traded, generally bills of exchange
and promissory notes in addition to requirements concerning guarantee
margins.
E.
Public Share Offer (PSO):
In accordance with the Stock Market Law, the PSO is the mechanism which
rules the stock purchase operations of company registered on the Exchange,
carried out by private persons or juridical entities, provided that
said purchase provides the decisive vote in said company.
This
mechanism allows the seller to rapidly obtain the links necessary with
stockholders and offer them equal treatment, and benefits stockholders
with the control.
Similarly,
the Lima Stock Exchange is designing diverse projects to introduce new
products on the market, including future operations and hedging.