Doria Sierra, CarlosFlórez Chaux, Cindy VanessaMadera Hernández, Elis Modesto2021-10-142021-10-142021-10-12https://repositorio.unicordoba.edu.co/handle/ucordoba/4676The stock market is one of the most prevalent elements in the Colombian financial system, the development it has experienced in recent years has allowed a greater economic situation and has guaranteed efficient medium and long-term financing of the country's productive sectors. Various instruments converge within this system, which are issued by public or private institutions and bought by national or foreign investors. One of these are securities with repurchase agreements, recognized as Repos, which arise as a financing alternative that allows market agents to borrow and / or invest with a limited commitment to repurchase and resell, respectively. These types of instruments have gained popularity in recent years because they allow savers to place cash with collateral and companies to raise capital without having to dilute. In view of the prominence that these operations have acquired, this work is oriented in the analysis and condensation of information concerning the trends and determining variations of the operations with repurchase agreement (Repo) in Colombia during the years 2019 and 2020, to achieve A deeper understanding first identifies the main characteristics of these operations, their risks, limitations and the role they play as monetary policy; then the behavior of the Repo contracts during the mentioned years is characterized, through the registration and analysis of the volumes traded; Finally, a comparative analysis of the years 2019-2020 is carried out, based on trends, transaction volumes and their value in the equity market. The work was supported by the quantitative research approach, with emphasis on the documentary review, the latter allowed the identification and analysis of the research carried out previously on the subject studied, material that was very useful for the development of current research and to which it was used as a reference source.Resumen ................................................................................................................................. 7Abstract................................................................................................................................... 9Introducción.......................................................................................................................... 111 Objetivos............................................................................................................................ 151.1 Objetivo General............................................................................................................. 151.2 Objetivos Específicos ..................................................................................................... 15Capítulo I .............................................................................................................................. 162 Principales Características de las Operaciones con Pacto de Recompra ........................... 162.1 Mercado Repo................................................................................................................. 162.1.1 Acciones objeto de operaciones Repo ......................................................................... 182.1.2 Participantes ………………………………………………………………………...202.1.3 Características y beneficios ......................................................................................... 222.1.4 Riesgos y limitaciones.................................................................................................232.1.5 Operaciones Repos como política monetaria .............................................................. 25Capítulo II............................................................................................................................. 273 Comportamiento de las Operaciones Repos en el Mercado Colombiano durante los años 2019 y 2020 .......................................................................................................................... 27Capítulo III............................................................................................................................ 374 Análisis Comparativo de las Operaciones Repos durante los Periodos 2019-2020 .......... 375 Conclusiones...................................................................................................................... 456 Bibliografía ........................................................................................................................ 48application/pdfspaCopyright Universidad de Córdoba, 2021Trabajo de grado - Pregradoinfo:eu-repo/semantics/openAccessAtribución-NoComercial-SinDerivadas 4.0 Internacional (CC BY-NC-ND 4.0)ReposRecompraRenta variableGarantíaEconomíaPolítica monetariaSistema financieroReposRepurchaseVariable incomeGuaranteeEconomyMonetary policyFinancial system