• This measure is in line with the shift to T+1 settlement cycles to be implemented in May by the U.S., Mexican and Canadian Stock Exchanges.
In line with the most developed markets in the world, BYMA announces that it shortens the settlement cycle to T+1, or 24 hours on cash transactions (equity and bonds). Transactions that settle T+0 will continue to be operative in BYMA with no changes.
This measure is subject to the National Securities Commission (CNV) approval and seeks to align the Argentine Market to the U.S., Mexican and Canadian Stock Exchanges –implementing this shift to T+1 as of May 27th, 2024.
Accelerated settlement leverages the benefits of trading frictionless with other market participants around the world and reduces counterparty risks in cash transactions, thus increasing capital market participants’ safety.
So far, the most used settlement cycle for cash transactions was T+2, i.e. from trade date plus two business days or 48 hours, both in Argentina and in International markets, although T+0 and T+1 also existed.
The new T+1 settlement cycle is focused on innovation for the local market, considering that BYMA is in line with the leading markets in the world.
Gonzalo Pascual Merlo, BYMA CEO, said: “At BYMA we work with a clear purpose in mind: to leverage the Capital Market conditions and to constantly generate new opportunities based on innovation.” Implementing this upgrade benefits the entire capital market ecosystem: Settlement and Clearing Agents, investors and other market participants”.