Ecopetrol Announces Start Dates for the Market Maker program for its Shares on the Colombian Stock Exchange
Ecopetrol (NYSE: EC) has launched its Market Maker program for common stock on the Colombian Stock Exchange, partnering with two firms: Andes Investment Group Inc. (started March 3, 2025) and Valores Bancolombia S.A. (started March 14, 2025).
The program aims to enhance trading conditions, price formation, depth, and liquidity of Ecopetrol shares in the local market. Technical conditions include a maximum spread of 50 pesos between buy and sell orders, minimum order amounts of 66,000 UVR, and market makers must maintain continuous buy and sell orders during market sessions with 80% monthly compliance.
Ecopetrol maintains its position as Colombia's largest company, controlling over 60% of hydrocarbon production and logistics. The company has expanded internationally with operations in the US Permian Basin, Gulf of Mexico, Brazil, and Mexico, while holding a 51.4% stake in ISA with presence in power transmission across South America.
Ecopetrol (NYSE: EC) ha lanciato il suo programma Market Maker per le azioni ordinarie nella Borsa Colombiana, in collaborazione con due aziende: Andes Investment Group Inc. (iniziato il 3 marzo 2025) e Valores Bancolombia S.A. (iniziato il 14 marzo 2025).
Il programma mira a migliorare le condizioni di trading, la formazione dei prezzi, la profondità e la liquidità delle azioni di Ecopetrol nel mercato locale. Le condizioni tecniche includono uno spread massimo di 50 pesos tra ordini di acquisto e vendita, importi minimi degli ordini di 66.000 UVR, e i market maker devono mantenere ordini di acquisto e vendita continui durante le sessioni di mercato con una compliance mensile dell'80%.
Ecopetrol mantiene la sua posizione di azienda più grande della Colombia, controllando oltre il 60% della produzione e logistica degli idrocarburi. L'azienda si è espansa a livello internazionale con operazioni nel bacino permiano degli Stati Uniti, nel Golfo del Messico, in Brasile e in Messico, detenendo una partecipazione del 51,4% in ISA con una presenza nella trasmissione di energia in tutta l'America del Sud.
Ecopetrol (NYSE: EC) ha lanzado su programa Market Maker para acciones comunes en la Bolsa de Valores de Colombia, asociándose con dos firmas: Andes Investment Group Inc. (iniciado el 3 de marzo de 2025) y Valores Bancolombia S.A. (iniciado el 14 de marzo de 2025).
El programa tiene como objetivo mejorar las condiciones de negociación, la formación de precios, la profundidad y la liquidez de las acciones de Ecopetrol en el mercado local. Las condiciones técnicas incluyen un diferencial máximo de 50 pesos entre órdenes de compra y venta, montos mínimos de orden de 66,000 UVR, y los creadores de mercado deben mantener órdenes de compra y venta continuas durante las sesiones de mercado con un cumplimiento mensual del 80%.
Ecopetrol mantiene su posición como la empresa más grande de Colombia, controlando más del 60% de la producción y logística de hidrocarburos. La empresa se ha expandido internacionalmente con operaciones en la Cuenca Pérmica de EE. UU., el Golfo de México, Brasil y México, mientras posee una participación del 51.4% en ISA con presencia en la transmisión de energía en toda América del Sur.
에코페트롤 (NYSE: EC)은 콜롬비아 증권 거래소에서 보통주를 위한 시장 조성자 프로그램을 시작했으며, 두 회사와 협력하고 있습니다: 안데스 투자 그룹(2025년 3월 3일 시작) 및 발로레스 반콜롬비아 S.A. (2025년 3월 14일 시작).
이 프로그램의 목적은 지역 시장에서 에코페트롤 주식의 거래 조건, 가격 형성, 깊이 및 유동성을 향상시키는 것입니다. 기술적 조건에는 매수 및 매도 주문 간 최대 50 페소의 스프레드, 최소 주문 금액 66,000 UVR가 포함되며, 시장 조성자는 시장 세션 동안 80%의 월 준수를 유지해야 합니다.
에코페트롤은 콜롬비아 최대의 기업으로서 60% 이상의 탄화수소 생산 및 물류를 통제하고 있습니다. 이 회사는 미국 퍼미안 분지, 멕시코만, 브라질, 멕시코에서 국제적으로 사업을 확장했으며, 남미 전역의 전력 전송에 참여하는 ISA의 51.4% 지분을 보유하고 있습니다.
Ecopetrol (NYSE: EC) a lancé son programme de Market Maker pour les actions ordinaires sur la Bourse colombienne, en partenariat avec deux entreprises : Andes Investment Group Inc. (débuté le 3 mars 2025) et Valores Bancolombia S.A. (débuté le 14 mars 2025).
Le programme vise à améliorer les conditions de négociation, la formation des prix, la profondeur et la liquidité des actions d'Ecopetrol sur le marché local. Les conditions techniques incluent un écart maximum de 50 pesos entre les ordres d'achat et de vente, des montants minimums de commande de 66 000 UVR, et les market makers doivent maintenir des ordres d'achat et de vente continus pendant les sessions de marché avec une conformité mensuelle de 80%.
Ecopetrol maintient sa position en tant que plus grande entreprise de Colombie, contrôlant plus de 60 % de la production et de la logistique des hydrocarbures. L'entreprise s'est développée à l'international avec des opérations dans le bassin permien aux États-Unis, dans le golfe du Mexique, au Brésil et au Mexique, tout en détenant une participation de 51,4 % dans ISA avec une présence dans le transport d'électricité à travers l'Amérique du Sud.
Ecopetrol (NYSE: EC) hat sein Market Maker-Programm für Stammaktien an der kolumbianischen Börse gestartet und arbeitet mit zwei Firmen zusammen: Andes Investment Group Inc. (gestart am 3. März 2025) und Valores Bancolombia S.A. (gestart am 14. März 2025).
Das Programm zielt darauf ab, die Handelsbedingungen, die Preisbildung, die Tiefe und die Liquidität der Ecopetrol-Aktien auf dem lokalen Markt zu verbessern. Technische Bedingungen umfassen einen maximalen Spread von 50 Pesos zwischen Kauf- und Verkaufsaufträgen, Mindestauftragsbeträge von 66.000 UVR, und die Market Maker müssen während der Handelssitzungen kontinuierliche Kauf- und Verkaufsaufträge mit einer monatlichen Compliance von 80% aufrechterhalten.
Ecopetrol behält seine Position als größtes Unternehmen Kolumbiens bei und kontrolliert über 60% der Produktion und Logistik von Kohlenwasserstoffen. Das Unternehmen hat sich international mit Aktivitäten im US-Permian-Becken, im Golf von Mexiko, in Brasilien und Mexiko ausgeweitet und hält eine Beteiligung von 51,4% an ISA, das in der Stromübertragung in ganz Südamerika tätig ist.
- Implementation of Market Maker program to improve stock liquidity and trading conditions
- Partnership with two established financial institutions for market making
- Maintains dominant 60% market share in Colombian hydrocarbon production
- Strong international presence in strategic markets (US, Brazil, Mexico)
- None.
Insights
Ecopetrol's implementation of a Market Maker program on the Colombian Stock Exchange represents a strategic liquidity enhancement initiative that deserves investor attention. By engaging two financial institutions - Andes Investment Group (Chilean Larraín Vial subsidiary) and Valores Bancolombia - the company has established a formal mechanism to improve trading dynamics for its shares in the local market.
The technical parameters set by the Colombian Exchange are particularly noteworthy: a maximum 50 peso spread between bid-ask prices creates a meaningful constraint designed to tighten trading costs. The requirement for market makers to maintain continuous order presence during 80% of monthly measurements provides accountability and consistency for the program's execution.
For shareholders, this initiative delivers incremental but tangible benefits through enhanced market mechanics. Improved liquidity typically manifests as smoother execution, reduced slippage, and more efficient price discovery - particularly beneficial during periods of market stress when liquidity often deteriorates. The dual market maker structure introduces healthy competition between liquidity providers, potentially maximizing effectiveness.
The program addresses a specific market structure challenge without fundamentally altering Ecopetrol's business operations or financial position. As Colombia's largest company with responsibility for over 60% of national hydrocarbon production, Ecopetrol's shares represent a significant component of the Colombian equity market. This initiative demonstrates management's attention to optimizing capital market presence alongside operational excellence.
While material share price impacts aren't typically expected from market maker programs at companies of Ecopetrol's size, the initiative represents sound market structure stewardship that can incrementally enhance the shareholder experience through improved trading conditions.
The Market Maker program began on March 3, 2025, through Andes Investment Group Inc., while Valores Bancolombia S.A. Comisionista de Bolsa, the program will began on Friday, March 14, with the authorization from the Colombian Stock Exchange.
With the launching of this program, Ecopetrol aims to contribute to the improvement of trading conditions, price formation, depth, and liquidity of its shares in the local market, thereby strengthening the Colombian capital market and generating value for its shareholders.
For more information on the technical conditions of the liquidity providers program, please refer to the attached Release No. 048 from the Colombian Stock Exchange (only available in Spanish).
Ecopetrol is the largest company in
This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the
For more information, please contact:
Head of Capital Markets
Carolina Tovar Aragón
Email: investors@ecopetrol.com.co
Head of Corporate Communications (
Marcela Ulloa
Email: marcela.ulloa@ecopetrol.com.co
BOLETÍN INFORMATIVO
VALORES BANCOLOMBIA S.A. COMISIONISTA DE BOLSA, formador de liquidez de la especie ECOPETROL
No. 048
Bogotá D.C., marzo 14 de 2025
La aprobación del presente programa, el cual se desarrolla desde el 14 de marzo de 2025, se desarrollará utilizando fondos propios del formador de liquidez, de acuerdo con lo establecido en el artículo 4.3.1.1 del Reglamento de
Recordamos que acorde con el mencionado Boletín Normativo BVC, las condiciones técnicas para el programa de formador de liquidez sobre la especie ECOPETROL son las siguientes:
1. MÁRGENES O DIFERENCIALES MÁXIMOS ENTRE LA MEJOR OFERTA DE VENTA Y LA MEJOR OFERTA DE COMPRA
El diferencial entre la mejor oferta de venta del formador de liquidez y la mejor oferta de compra del formador de liquidez no podrá ser superior a
Esta diferencia podrá ser modificada, lo cual se notificará al mercado mediante boletín normativo.
2. MONTO MÍNIMO DE LAS ÓRDENES DE VENTA Y DE COMPRA
El monto mínimo de la orden de venta será de 66.000 UVR y el monto mínimo de la orden de compra será de 66.000 UVR.
3. CANTIDADES Y OPORTUNIDADES EN LAS QUE DEBE INTERVENIR EL FORMADOR DE LIQUIDEZ EN EL MERCADO
De acuerdo con lo establecido en el numeral 1.3.4 de la Circular Única BVC, el formador de liquidez deberá mantener de forma permanente y simultánea por lo menos una orden de compra y una orden de venta durante toda la sesión de mercado abierto sobre el valor sobre el cual actúe como formador de liquidez.
Según lo indicado en el numeral 1.3.7 de la Circular Única BVC el formador de liquidez deberá cumplir las condiciones o criterios técnicos del programa como mínimo en un
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SOURCE Ecopetrol S.A.
FAQ
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