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CETIP Rallies On Auto Purchase

Dec 3, 2010

Brazil’s CETIP has acquired local auto-finance registration company GRV for BRL2.0bn. The acquisition of one of the largest providers of financial product registration in Brazil will nearly double the size of CETIP, a financial clearing house, says the buyer. CETIP stock closed up 4.88% to end Thursday at BRL21.50 on news of the transaction, after rising as high as 12% earlier...

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The most pressing issue is related to guaranteeing this growth of the system, the savings. We have to guarantee that this growth is followed by better asset managers on the side of the Afores.

Carlos Ramírez, Mexico’s pension regulator, Consar


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