BYMA to reduce Regular Cash Settlement Date to 48 hours (T+2)

BYMA news


This change entails an amendment to the settlement of transactions of securities listed on BYMA and will be implemented as from September 5th.

The reduction was established by Resolution No. 703E/2017 of the National Securities Commission (CNV for its Spanish acronym), issued on August 25th and published on the Official Gazette. This Resolution replaces the 72-hour cash settlement date by a 48-hour date.  From next Tuesday, September 5th onwards, the change mentioned above will impact all the markets authorized by the National Securities Commission, in line with the prior implementation of this measure in other markets around the world  (US, Canada, Mexico and Peru) and in line with the scenario already existing in the European Union and some Asian countries.

Therefore, simplification of trading for users will be fostered with the aim to achieve more liquidity and competitiveness, thus facilitating access for small investors and creating more favorable conditions when executing a transaction.

Finally, it worth mentioning that Regular Cash transactions executed on the 4th (72 hours) and 5th (48 hours) days of the current month will be jointly settled on September 7th, 2017.