This new web-based platform developed by BYMA enables Issuers to submit their filings electronically, using blockchain technology. This new platform will streamline and speed up the filing process while fostering paperless solutions and higher safety levels.
BYMA launches BYMA LISTED, a new blockchain-based platform that enables Issuers to electronically submit, for example, Listing Applications of new securities and all pertinent documentation as required by the regulations in force.
BYMA LISTED will be available 24×7 and electronic filing status can be tracked at any time. Implementing this new platform means a 90% reduction on the use of paper, speeding up filing-related transit time, and costs reduction.
BYMA LISTED includes Issuers of Stocks, Corporate Notes, Short Term securities, Financial Trusts, Mutual Funds, Deferred Payment Checks and other securities.
This new platform also provides for higher safety and transparency levels, based on the incorporation of blockchain technology to certify and authenticate data. The system will use electronic signatures on every document filed, and will record such information in the blockchain database.
Issuers will access this new web-based platform through this website. First, each issuer will have to register on the web, creating a new user to operate.
Then, Issuers will have the possibility of submitting a new security Application Form (new security type) to be listed in BYMA or in any other Market, and they may also file electronically the pertinent regulatory documentation for BYMA listed securities, therefore replacing the use of paper. The filling of statutory financial information will be enabled for private issuers, foreign issuers and deferred payment checks, among others.
In this respect, Alejandro Berney, BYMA CEO said: “This new platform represents a new milestone in our commitment to incorporate state-of-the-art technology, with the aim of enhancing efficiency and offering market participants safer and more flexible products and services. Digitalization is a key element to development and to position ourselves at the level of international markets.”
He also added: “This initiative is in line with the “Electronic Filing Procedures Plan” fostered by the National Government.”
See more information at BYMA LISTED.
