Through the agreement, Argentina’s leading stock exchange will trade derivatives markets using B3’s consolidated PUMA Trading System platform.
B3 and BYMA (Bolsas y Mercados Argentinos) have signed a joint agreement for B3 to provide technology services to BYMA. Through the agreement, Argentina’s leading stock exchange will trade derivatives markets using B3’s consolidated PUMA Trading System platform.
The provision of these services depends on authorization by Argentinean and Brazilian capital markets regulators.
Partnership model is unheard of in Latin America and conveys the potential for joint development through cooperation.
“B3 is very honored to enter into this partnership agreement with BYMA and with the opportunity to work even closer to the Argentinean market, which is so important for our region. Innovation and joint work are key for the advancement of Latin American markets”, said Roberto Belchior, B3’s Market Development managing director for Latin America.
Ernesto Allaria, BYMA CEO, said: “The partnership between B3 and BYMA allows our market to develop derivatives trades into a platform of excellence in line with BYMA’s commitment to incorporate internationally recognized technologies. “This agreement consolidates our institutional relations with B3, one of the world’s main markets, a leader in the region and a company with a strong vocation to contribute with the growth of capital markets”.
About B3
B3 is a world-class financial market infrastructure company and one of the largest in terms of market capitalization among global leaders in the exchange industry. It creates and operates – in an exchange and OTC environment – trading, clearing, settlement and registration systems for all of the major asset classes, from equities and corporate debt securities to derivatives in FX, interest rates and commodities, as well as structured transactions, and liens and encumbrances registration. B3 also provides central depository and risk control systems up until the final beneficiary and acts as central counterparty for trades executed in its markets. It is the leading company for the electronic provision of information that traffic departments require for registering contracts and encumbrance reports.
Headquartered in São Paulo and with offices in London and Shanghai, B3 hosts a long tradition in technology product innovation and performs important functions in financial and capital markets in the region by promoting best practices in corporate governance, risk management and sustainability. Acting through its qualified network of intermediaries, it operates secure and resilient environments, increasing the security, solidity and efficiency of the Brazilian market and contributing to the formation of long-term capital and to economic growth in the region.
More Information: www.b3.com.br
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B3 and BYMA Enter into Groundbreaking Partnership in Latin America