Peru's Superintendency of the Securities Market (SMV) approved amendments to the Lima Stock Exchange (BVL) rulebook for on-exchange trading, aiming to standardise equity trading rules with those applied in Colombia and Chile and to support the BVL’s migration from the Millennium SOR trading system to a Nasdaq-provided trading platform, as part of the nuam integration process. The revised rules cover the categorisation of equity instruments, segmentation of the market and segment-specific trading rules, including a new closing price calculation methodology, the application of price control margins and mechanisms, and processes for modifying and cancelling trades. Equity instruments will be classified into a Global Market and a Local Market, with the Local Market incorporating a “dual listing” concept, and trading will take place across three segments: Continuous, Auction and Global. The amendments also introduce a “Designated Liquidity Promoter” framework under which broker-dealers may be authorised to promote liquidity for groups of equities, subject to daily obligations to post buy and sell quotes meeting the notional amount and bid-ask spread conditions set out in their application.

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