S&P Dow Jones Indices and Bolsas y Mercados Argentinos Equity Indices Transition

BYMA news


In March 2018, Bolsas y Mercados Argentinos (“BYMA”) and S&P Dow Jones Indices (“S&P DJI”) signed an Index Operation and License Agreement. The partnership between BYMA and S&P DJI, the world’s leading provider of index-based concepts, data and research, includes the adoption of international index methodology standards and the integration of operational processes and business strategies and enhances the visibility, governance, and transparency of the existing indices. The agreement also enables the development, licensing, distribution and management of current and future indices which will be designed to serve as innovative and practical tools for local and global investors. The new and existing BYMA indices will be co- branded under the “S&P MERVAL” and “S&P/BYMA” names (the “Indices”) that can be used to underlie liquid financial products, expanding the breadth and depth of the Argentine capital market.

S&P DJI previously announced the official cutover date would be December 3, 2018. S&P DJI and BYMA are working together and with third party providers to ensure a smooth transition of the calculation, management and distribution of the Indices.

Based on a review of the current transition plan, S&P DJI and BYMA have agreed to postpone the December 3, 2018 cutover date to January 14, 2019 (the revised “Transition Date”) when S&P DJI will assume responsibility for the calculation, production, maintenance, licensing, and distribution of the Indices. BYMA will continue to license and distribute real-time index data and the delayed index data (which includes Open/High/Low/Volume and last tick).

Transition Timeline

October 3, 2018

Start of the parallel period for clients to begin receiving the S&P DJI Universal File Format (UFF 2.0) files for testing purposes. BYMA files and calculations will remain official until January 11, 2019.

January 11, 2019

End of parallel period.

January 14, 2019

Official cutover date which includes the following activities:

  1. Indices rebranded to S&P MERVAL or S&P/BYMA,
  2. Co-branded methodologies posted to the S&P DJI website,
  3. S&P DJI becomes the official calculator and distributor of the indices,
  4. Cutover to S&P DJI files (Deliver via SFTP only),
  5. Legacy end-of-day files from the Exchange, if any, are discontinued,
  6. Official closing index levels from January 11, 2019 will become the starting values for the S&P MERVAL and S&P/BYMA indices to ensure continuity of index data through the transition.

More Information

S&P Dow Jones Indices