Argentina’s BYMA to Undertake Nasdaq’s Clearing Platform

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BYMA to base its complete post-trade ecosystem on Nasdaq expertise

Argentinian change group to undertake Nasdaq’s real-time clearing platform, increasing the businesses’ current Central Securities Depository partnership

The clearing platform will improve capability and connectivity while lowering operational complexity

NEW YORK and BUENOS AIRES, Argentina, Sept. 19, 2024 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq: NDAQ) and BYMA, Argentina’s main inventory change group, at this time introduced a big growth of their expertise partnership that may see BYMA base its complete post-trade ecosystem on Nasdaq expertise.

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Beneath the phrases of the settlement BYMA will undertake Nasdaq’s real-time clearing platform at its central counterparty clearinghouse (CCP), complementing Nasdaq’s current expertise partnership with Caja de Valores, Argentina’s central securities depository, which can be owned by BYMA.

Collectively, the platform permits BYMA to enhance the pace, capability, and connectivity of its post-trade community, while optimizing threat administration throughout the system by extra actual time entry to knowledge, superior threat analytics, and larger operational resiliency. As well as, it goals to boost reconciliation and the digital expertise for clearing members, drawing on business normal APIs.

The clearing system will have the ability to add capability quickly by intervals of heightened quantity, whereas its modular structure provides BYMA the flexibleness to launch new services and products with a a lot shorter time-to-market.

The transfer will help BYMA’s shift to a mannequin the place money and safety settlement takes place on the central securities depository after netting has taken place on the clearing home, consistent with worldwide greatest observe. This may permit liquidity to be centralized and optimize collateral administration for members, while making certain a transparent distinction of purposeful capabilities between the 2 entities. It additionally simplifies the corporate’s current construction whereby settlement, clearing, and threat are processed independently throughout three completely different programs.

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Magnus Haglind, Senior Vice President, Market Expertise at Nasdaq, mentioned: “Market operators globally are navigating a sequence of market reforms, extra intense regulation, and an more and more advanced working setting. Nasdaq is enjoying a robust position serving to to simplify submit commerce structure, making certain operators have the expertise to reply to new challenges, seize market alternatives, and scale as they capitalize on a brand new wave of innovation. Consolidating BYMA’s submit commerce operation on Nasdaq’s platform marks one other main step ahead within the progress and growth of the Argentinian market.”

Ernesto Allaria, BYMA Chairman mentioned: “We’re taking a vital and pioneering step throughout the native market which seeks to combine the entire buying and selling life cycle with a system consistent with most developed international markets’ requirements. Our goal is to offer market contributors entry to cutting-edge main platforms by which they’ll conduct their day-to-day actions. We have a good time this significant step taken in direction of strengthening our strategic partnership with Nasdaq.”

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Gonzalo Pascual Merlo, BYMA CEO, added: “Partnering with a number one international strategic accomplice akin to Nasdaq reconfirms our dedication to innovation to show funding into progress and growth. Inside this present context of accelerating market progress, our precedence is to construct the essential infrastructure wanted to drive Argentina’s financial progress. We’re totally conscious of the position that the Argentine Capital Market must play to realize this goal. For this function, we’re offering for scalable and environment friendly platforms and programs to allow Argentinians meet their funding and monetary targets.”

BYMA has skilled important progress lately, at this time serving 1 million trades per day with roughly 1.5 million funding accounts energetic each month, whereas additionally increasing into new asset courses and companies. To make sure its markets stay sturdy, scalable, and resilient within the face of its more and more advanced international market, BYMA has continued to spend money on its underlying expertise structure. Increasing its partnership with Nasdaq represents the following step in its funding program, serving to to make sure secure, dynamic and dependable built-in post-trade operations.

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In September 2023, the Central Securities Depository efficiently launched its new platform, securing their potential to fulfill rapid operational and efficiency wants, future proof the enterprise, and place the enterprise to capitalize on future progress alternatives.

As a scaled platform accomplice, Nasdaq attracts on deep business expertise, expertise experience, and cloud managed service expertise to assist 3,500+ banks, brokers, regulators, monetary infrastructure operators, and buy-side companies clear up their hardest operational challenges whereas advancing industrywide modernization. Its Market Expertise enterprise serves as one of many world’s largest market infrastructure expertise suppliers, offering multi-asset options to greater than 130 marketplaces, CCPs, CSDs and regulators in over 50 nations. It provides dependable and scalable expertise throughout the commerce lifecycle, serving to organizations to drive effectivity, transparency, and liquidity.

About BYMA

BYMA is the main Inventory Change in Argentina that mixes liquidity, know-how and experience to deal with at this time’s monetary challenges and calls for, driving funding into job alternatives and nation growth. Built-in beneath a cutting-edge technological platform, following the main international markets’ high quality and safety requirements, BYMA provides organizations, firms and most of the people a secure and clear entry to the funding world. BYMA can be the controlling shareholder of Caja de Valores S.A., the entity appearing as the one Central Securities Depository in Argentina. We’re the one change that may supply commerce, post-trade and custody associated companies for any kind of securities in Argentina, to native and overseas market contributors. To study extra concerning the firm, go to us on LinkedIn, on X @BYMAOficial or at https://www.byma.com.ar/en.

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About Nasdaq

Nasdaq (Nasdaq: NDAQ) is a number one international expertise firm serving company purchasers, funding managers, banks, brokers, and change operators as they navigate and work together with the worldwide capital markets and the broader monetary system. We aspire to ship world-leading platforms that enhance the liquidity, transparency, and integrity of the worldwide economic system. Our various providing of knowledge, analytics, software program, change capabilities, and client-centric companies allows purchasers to optimize and execute their enterprise imaginative and prescient with confidence. To study extra concerning the firm, expertise options, and profession alternatives, go to us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

BYMA Media Contact
Bernarda Eckell
comunicacion@byma.com.ar

Nasdaq Media Contact:
Andrew Hughes
+44 (0)7443 100896
Andrew.Hughes@nasdaq.com

-NDAQG-

Cautionary Observe Relating to Ahead-Trying Statements: 

Info set forth on this press launch incorporates forward-looking statements that contain a lot of dangers and uncertainties. Nasdaq cautions readers that any forward-looking data isn’t a assure of future efficiency and that precise outcomes might differ materially from these contained within the forward-looking data. Ahead-looking statements may be recognized by phrases akin to “can”, “will” and different phrases and phrases of comparable which means. Such forward-looking statements embrace, however will not be restricted to, statements associated to the advantages of Nasdaq’s submit commerce expertise options. Ahead-looking statements contain a lot of dangers, uncertainties or different components past Nasdaq’s management. These dangers and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Change Fee, together with its annual experiences on Kind 10-Ok and quarterly experiences on Kind 10-Q which can be found on Nasdaq’s investor relations web site at http://ir.nasdaq.com and the SEC’s web site at www.sec.gov. Nasdaq undertakes no obligation to publicly replace any forward-looking assertion, whether or not because of new data, future occasions or in any other case. 

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