BYMA reduces the settlement cycle for normal spot transactions

In line with the most evolved markets in the world, BYMA announces the reduction of the settlement cycle to one day or 24 hours (T+1) for normal spot transactions (stocks and bonds). On the other hand, T+0 spot trades will continue to be carried out in BYMA without modifications.

This measure is subject to the approval of the National Securities Commission and seeks to align itself with the U.S. and Canadian Stock Exchanges, which will implement such definition in May.

This implementation enhances frictionless arbitrage with other markets in the world and reduces the counterparty risk of normal spot transactions, thus increasing the security of Capital Market participants.

Up to now, the settlement cycle for normal spot transactions was T+2, i.e. two days or 48 hours, not only in Argentina but also internationally.

The novelty is focused on innovation for the local market, since BYMA is aligned with the practices of the most evolved markets in the world.

In this regard, the CEO of BYMA, Gonzalo Pascual Merlo, said: "At BYMA we work with a clear focus: to strengthen the conditions of the Capital Markets and constantly generate new opportunities based on innovation. The implementation of this measure brings clear benefits for the entire ecosystem: Settlement and Clearing Agents, investors and other participants.".