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Madrid 2025
52nd General Assembly and Annual Meeting of the Ibero-American Federation of Stock Exchanges

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FIAB’s next Annual Meeting will bring together representatives of its 23 member Stock Exchanges, as well as prominent personalities from the capital markets, government authorities and renowned experts, both local and international.

Juan Flames Welcome

CEO BME & Head BME Exchanges

Juan Flames Welcome

Welcome to all:

I am honored, as CEO of BME, to invite you to the 52nd FIAB General Assembly and Annual Meeting.

BME will be the venue to host this important edition, which will be held from 16th to 18th  September 2025 at the emblematic Palacio de la Bolsa de Madrid. It is a pleasure to also extend this invitation to the financial community to attend the Annual Meeting, which will be a unique space to reflect, debate and share perspectives on the challenges and opportunities facing financial markets.

In this edition, we will address key topics such as technology applied to financial markets, regulatory challenges, cybersecurity or sustainability. We strongly believe that these issues are vital for the development and innovation of our sector, and I am convinced that this will be an exceptional opportunity to strengthen collaboration and cooperation to move towards a more dynamic and resilient future for our markets.

I look forward to your valuable presence at this important event.

Best regards,

FIAB 2025 Program

The events scheduled on September 16 and 17 will be open only to FIAB members. The Annual Meeting, scheduled for September 18, will be open to the public upon registration.

The Welcome Cocktail Reception and Gala Dinner will be exclusive to FIAB members and designated guests, while the Farewell Cocktail Reception will be open to all Annual Meeting participants.

The agenda is in Spanish time (CET). All public events will be streamed live and will be available for recording at a later date.

Tuesday, 16th September

*Exclusive for FIAB members

16:00 to 19:00

Working Subcommittee

19:00

Welcome Cocktail Reception

Wednesday, 17th September

*Exclusive for FIAB members

11:00 to 13:00

Executive Committee

13:00 to 15:00

Lunch

15:00 to 18:00

General Assembly

20:30

Gala Dinner

Thursday, 18th September

*Open to the public upon registration

8:30 to 9:00

Registration & Coffee

9:00 to 13:30

Annual Meeting

13:30 to 15:00

Lunch

15:00 to 17:30

Annual Meeting (cont.)

17:45

Farewell Cocktail Reception

Panelists

Rocío
Albert López-Ibor
Counselor of Economy, Finance, and Employment
Community of Madrid
Closing remarks

Rocío Albert López-Ibor is the Counselor of Economy, Finance, and Employment for the Community of Madrid. She has held senior roles in public administration, including Vice-Counselor of Education and Economy, Director General of Universities and Research, and Deputy in the Madrid Assembly. She leads major research projects and frequently contributes as a columnist and economic commentator in various media outlets.

Jorge Alegría
Formoso
CEO
Bolsa Mexicana de Valores
Panelist

Jorge has held key roles in financial markets, including Senior Director at CME Group for Latin America, CEO of MexDer, and Deputy CEO at the Mexican Stock Exchange. He also led ABN AMRO Securities Mexico, chaired IOMA, and teaches derivatives at ITAM, where he earned his CPA in Finance.

Andrés
Allamand
Secretary General
Ibero-American General Secretariat
Panelist

Since 2022, Allamand has served as Ibero-American Secretary General, with a distinguished career in politics and international relations. He signed the ‘National Agreement for the Transition to Full Democracy’ in Chile. He has served as a member of parliament, senator, and minister of defence and foreign affairs. He has worked as a consultant for the IDB on democratic governance and is the author and co-author of more than 10 publications.

Andrés
Araya
CTO
nuam
Panelist

Andrés is CTO at nuam, having previously been Client and Business Manager at the Santiago Stock Exchange and CCLV Central Counterparty in Chile. He has over 30 years of experience in fintech and brokerage firms in Chile and Latin America. A professor of Finance at the Pontifical Catholic University of Chile, he was CIO of the Year in 2017.

Berta
Ares
Global Director, Program and Innovation Office
BME, SIX
Panelist

She leads strategic projects and innovation in Data Science and Digital Assets. She is also Director of Financial Information Spain and is part of BME’s Management Committee. With more than 20 years of experience in finance, she drives transformative technologies and processes, focused on teams and value creation.

Judith
Arnal
Counselor of the Bank of Spain
Senior Researcher at the Real Instituto Elcano
Panelist

She is a member of the Audit Committee of the Bank of Spain, member of the Scientific Council of the Real Instituto Elcano and senior researcher at CEPS and ECRI. She has been a board member of ICO, Red.es and ENISA, and has held executive positions in the Treasury and in the cabinet of the Vice-President for Economic Affairs.

Rodrigo
Buenaventura
Secretary General
IOSCO
Panelist

He assumed his position as Secretary General of IOSCO in January 2025, after chairing the CNMV until 2024. He has served on the boards of ESMA and IOSCO and led policy committees on sustainability and markets. He previously worked at ESMA and CNMV in market supervision and international financial regulation.

Bruce
Butterill
Executive Director
ACSDA
Panelist

Based in Colombia, Bruce is Executive Director of the Americas’ Central Securities Depository Association (ACSDA) and an independent capital markets infrastructure consultant. He has advised CSDs, clearinghouses, and exchanges in 17 countries. Previously, he spent 19 years at CDS Canada, leading national operations, international relations, and product development at senior executive level.

Olga
Cantillo
Executive President and CEO of Latinex
President of the FIAB Working Committee
Moderator

With more than 33 years of experience in the financial sector in banking and securities markets, she leads Latinex and participates in sustainability as a member of SSE, GFANZ and FIAB. She was the first woman to chair FIAB, where she currently serves as Chairman of the Working Subcommittee and is a Director of Fundación Calicanto and Founding Associate at ADP Panama.

Mariano
Cirio
General Manager
Argentine Securities Market
Moderator
An economist with a Master’s degree in Finance, Mariano is General Manager of the Argentine Securities Market and Manager of Strategic Planning and Risk Management at GRUPO MAV. Since joining the company in 2018, he has collaborated in the structuring of products and businesses linked to SMEs and non-standardised companies. He currently coordinates the Alternative Stock Market Products team of the FIAB Working Subcommittee.
Juan Pablo
Córdoba
CEO nuam
President FIAB
Opening remarks

An economist with a PhD from the University of Pennsylvania, Córdoba heads nuam, a holding company that groups the Colombian, Santiago and Lima stock exchanges, and chairs the FIAB (a position he also held in 2013). He was president of the Colombian Stock Exchange (BVC) for 18 years and has worked in entities such as Fogafín, IMF, IDB and the World Federation of Exchanges (WFE).

Isabel
Díaz Ayuso
President
Community of Madrid
Closing remarks

Ayuso holds a degree in Journalism from the Complutense University of Madrid and a Master’s in Political Communication and Protocol. Her professional background includes roles in communications departments of companies and foundations, as well as work in radio and digital media both in Spain and abroad. Elected to the Madrid Assembly in 2011, she was re-elected in 2015, 2019, 2021, and 2023. In 2015, she served as Deputy Spokesperson for the Popular Parliamentary Group. In the regional government, she served as Deputy Minister of the Presidency and Justice and, since August 2019, has been President of the Community of Madrid, leading key regional policies.

José Luis
Escrivá
Governor
Bank of Spain

José Luis Escrivá has been Governor of the Bank of Spain since September 2024 and is a member of the Governing Council and General Council of the European Central Bank. He chairs the Board of Governors of CEMLA and is a member of the FSB, the BIS Group of Governors and Heads of Supervision, the General Board of the ESRB and Vice-Chair of AMCESFI. He holds a degree in Economics from the Complutense University of Madrid and was Minister for Digital Transformation and Public Administration (2023–2024), Minister for Inclusion, Social Security and Migration (2020–2023), President of AIReF and Director for the Americas at the BIS.

Marianela
Fernández
Supervisor of Technical and Negotiable Securities Management
BCBA
Panelist

Certified Public Accountant from the University of Buenos Aires (UBA), with experience in the capital markets field. She works as a Supervisor in the Technical and Negotiable Securities Management Department of the Buenos Aires Stock Exchange (BCBA). She co-leads the Sustainability working group of the Ibero-American Federation of Stock Exchanges (FIAB) Subcommittee.

Bernard
Ferran
Managing Director and CCO
Euroclear
Panelist

At Euroclear since 2001, Bernard oversees global sales and client relationships, servicing $45 trillion in assets across 2,200 clients in 120+ countries. He leads a 250-person team across 18 offices in Europe, Middle East, Asia and the Americas. Previously, he was Chief Representative in Dubai and held roles at MasterCard and GSI.

Miguel
Ferreira
CCO America & Global Firms
Euroclear
Panelist

Having joined Euroclear in 1997, Ferreira leads client relationships across the Americas and Global Firms, as well as issuer and collateral services. He has managed clients in South America, Europe, the Middle East, and Africa, with experience in London, Dubai, São Paulo, and Brussels.

Sebastián
Ferro
CIO
Grupo A3 Mercados
Panelist

Ferro is currently serving as Chief Information Officer of A3 Mercados Group. Previously, he was CEO of Primary of the Holding Matba Rofex, actively collaborating in the digital transformation of the business to turn the Holding into a provider of infrastructure and technological services for the Argentinean and regional Capital Markets.

Juan
Flames
CEO & Head BME Exchanges
BME, SIX
Opening remarks

Flames is CEO & Head BME Exchanges of BME as well as Head of Primary Markets, Market Data and Connectivity at SIX. Previously, he was Vice Chairman of Capital Markets at Barclays Bank Europe and held various positions in capital markets and investment banking at Barclays Bank in both the UK and Spain. He also has a distinguished track record of more than a decade at Goldman Sachs in London.

Pedro
Gurrola
Head of Research
WFE
Panelist

Pedro joined WFE in 2019 from the Bank of England. With a PhD in Mathematics and over 15 years in academia, he has published extensively on DLT, risk, and financial infrastructure. In 2007 he was awarded the MexDer National Award on Derivatives Research. Gurrola served on ESMA’s CCP Policy Committee Consultative Group and currently on the Advisory Board at Baruch College.

Magnus
Haglind
Senior Vice President and Head of Capital Markets Technology
Nasdaq
Panelist
Magnus Haglind is Senior Vice President and Head of Capital Markets Technology within the Nasdaq Fintech division and is responsible for business management and product portfolio strategy of a broad suite of mission critical market technology solutions for market operators, banks, brokers, and central banks. Magnus has held various roles in the exchange industry in the confluence of business management, technology, and operations.
Maximiliano
Ignaciuk
CIO
BYMA
Panelist

Maximiliano is a senior IT executive with more than 20 years of experience leading digital evolution in the financial sector. He is currently CIO of the BYMA Group and Director of TECVAL, and has been CTO and CISO in the banking industry, specialising in cybersecurity, scalable infrastructures, and high-performance team building. He combines technical expertise with strategic vision to drive innovation in complex environments. A leader in aligning technology with business in the digital age.

Isabel
Martínez
Marketing Manager
BME, SIX
Master of Ceremonies
Isabel joined BME in 2015. Between 2015 and 2019, she was part of the team responsible for the development of the Information System (PTI). From 2019 to 2022, she served as Sales & Relationship Manager in the Equities area at BME. Since 2022, she has been part of the Securities Services unit at SIX, where she works as a Marketing Manager, focusing on the strategy and development of clearing and post-trade services, as well as organising and participating in international financial events.
Pilar
Martínez
Director of Public Affairs EU/Latam
BME, SIX
Moderator

As Director of Public Affairs at BME/SIX, Pilar drives the Group’s regulatory strategy in Europe and Latin America. She is actively involved in FIAB, WFE, CEPS and FESE, and represents BME in forums such as Eurofi and IOSCO. She collaborates with specialised media and is a member of the teaching staff for the Diploma in Public Affairs at APRI and the Autonomous University of Madrid.

Hisako
Nakajima
Sustainability Senior Manager
Telefónica
Panelist

Hisako leads Telefónica Group’s relationship with ESG-focused analysts and investors, focused on improving and communicating the ESG equity story to the market. She has over 12 years’ experience at Telefónica working in various roles across the business including M&A, Investor Relations and innovation. 

José Luis
Onis
Deputy General Manager
Primary (A3)
Moderator

José Luis Onis leads the Market and Platform Integration area at A3, managing relationships with both local and international capital markets. With over 20 years of experience in financial technology, he specializes in the intersection of markets, technology, and innovation. He is an active member of FIAB, leading the working groups on Disruptive Technologies and Cybersecurity.

José Manuel
Ortiz-Repiso
Head of BME Clearing
BME, SIX
Panelist

Ortiz-Repiso joined BME in 2000. Between 2003 and 2013 he was supervisor of the Spanish Stock Exchange and Head of Market Quality at BME Renta Variable. Between 2013 and 2016 he was project manager for the creation of the information system (PTI).  He is currently Head of BME Clearing and the Clearing and Repo unit at SIX.

Jaume
Puig
CEO & CIO
GVC Gaesco Asset Management SGIIC
GVC Gaesco Pensions SGFP
Panelist

Jaume Puig is a member of the Management Committee of the GVC Gaesco Group. He directly manages various investment funds and SICAVs. He began his professional career in 1989 at Fibanc. He then worked at Banco Vitalicio and later, in 1995, joined GVC Gaesco. Over the years, he has won more than twenty awards for investment management. He is also vice-president of Inverco Catalunya.

Pedro
Rodero
Chief Executive Officer, Partner
ONTIER Spain
Panelist

A leading litigation lawyer, Mr. Rodero joined ONTIER in 2006 after working for Baker & McKenzie and Clifford Chance. A specialist in litigation, arbitration and commercial law, he has led complex proceedings and created the mediation area, promoting alternative means of dispute resolution.

Thomas
Samuel
Senior Investment Officer
Finance in Motion
Panelist
Thomas is a Senior Investment Officer at Finance in Motion, responsible for executing direct and structured investments for the Green for Growth Fund, LAGreen Fund, and EcoBusiness Fund. He has experience across private equity, debt, and capital markets in Latin America, the U.S., and EMEA, with a focus on sustainable finance and thematic bond issuances.
Carlos
San Basilio
Chair
CNMV
Opening remarks

Carlos San Basilio has served as Chair of the Spanish Securities Market Commission (CNMV) since December 2024. He has a long-standing career in the public and financial sectors, having been Director of Corporate Strategy at the European Bank for Reconstruction and Development (2021–2024), and previously Secretary General of the Treasury and International Financing (2018–2021). He also served as an advisor to the Bank of Spain, FROB, and CNMV. He has held key roles including Director General of the Treasury, Resolution Director at FROB, and Economic and Financial Counsellor to the EU. His experience also includes positions at COFIDES, State Assets, and MTS.

Nandini
Sukumar
CEO
WFE
Panelist

As CEO of the World Federation of Exchanges (WFE), Sukumar leads the global association of exchanges and CCPs, representing 250+ institutions, and setting global standards and consensus across regions. She is Vice Chair of IOSCO’s AMCC and chairs its Sustainability Taskforce. Under her leadership, WFE promotes the role of market infrastructures in the real economy.

Carmen
Tejera Gimeno
Deputy Minister for Economy and Employment
Community of Madrid
Panelist

Carmen Tejera Gimeno is Deputy Minister for Economy and Employment of the Community of Madrid and has served as State Attorney since 1992. She has held senior positions in public administration, particularly in the Ministry of Economy and Finance, as well as in state-owned companies such as Canal de Isabel II and the Spanish National Lottery. She contributed to the drafting of the Unified Good Governance Code (CNMV, 2006), reflecting her strong commitment to institutional governance.

Leila
Utrera
Risk Manager
Argentina Clearing S.A.
Moderator

Leila has nearly 20 years of experience in the Argentine stock market. She has worked at Grupo A3 Mercados since 2006, leading projects related to risk and post-trade. She holds a Bachelor’s degree in Economics from the National University of Rosario and a Master’s degree in Finance from the same university.

Mario
Vásquez Castillo
Corporate Director General
Costa Rica National Stock Exchange Financial Group
Closing remarks

Vásquez is an Economist graduated from the University of Costa Rica, with a Master’s Degree in Finance and a Master’s Degree in Operations Management from ULACIT. He has more than 25 years of experience in banking, investment funds, pensions, and capital markets. He has led regional integration processes, strategic acquisitions, and the strengthening of bank treasuries, in addition to actively participating in regulatory and market development committees in Central America.

Pablo
Vera
Public Affairs Partner
KREAB Spain
Moderator

Partner at KREAB Spain, expert in public affairs and regulation with extensive international experience. He advises financial institutions, fintechs and digital operators in complex legislative environments. Specialized in financial regulation, competition and digital transformation, he combines legal training with strategic advice in highly regulated sectors. He holds a law degree from Universidad Carlos III de Madrid and a Master of Laws (LL.M.) in European Union Law from King’s College London.

Núria
Vilanova
Chairwoman and Founder
CEAPI
Panelist

Núria is the Chairwoman and Founder of CEAPI, which brings together more than 350 leaders of major companies in Latin America. She leads this platform by promoting business growth, dialogue with governments, and defending the role of entrepreneurs in the region. Committed to female leadership and strategic communication, she is also the Founder and Chairwoman of ATREVIA.

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