Primary Placements (SICOLP)
BYMA Internet-based Primary Placement System (SICOLP) enables both BYMA Member Brokers and other intermediaries to participate freely in the primary placement process of marketable securities. Some of SICOLP functions are:
- Placement management (information, parameters and documents)
- User administration
- Bid Management (registration and cancellation of bids, consult own bids)
Secondary Trading
Priority Price-Time (PPT)
Electronic trading with automatic tendering of transactions through the trading system called Millennium, where there is a price-time priority in case of bid interference. Settlement of these operations is guaranteed by BYMA (central counterparty).
Bilateral Trading Session (SENEBI)
Member Brokers operate on their own, tendering the transactions through direct negotiation. Tendered transactions must be informed by BYMA Brokers for their disclosure, registration, and publication. The tendered transactions registered in SENEBI are considered non-backed transactions and, therefore, do not have the support of BYMA’s Mandatory Guarantee Fund.
Communication System for Brokers of Marketable Securities (SISTACO)
This System allows Brokers of Marketable Securities (ACVN) to inform BYMA of the occurrence of transactions of marketable securities, in those systems managed by the ACVN, where authorized intermediaries take part. Transactions are then confirmed for their further registration in the SENEBI segment, or tendered in the PPT..
What is being traded?
STOCKS
They represent the capital contributions from shareholders of an issuing company. They provide their owner the condition of shareholder, with all class appropriate rights (common stock with one or multiple voting rights, and preferred stock).
CEDEARS
Argentine Certificates of Deposit. Certificates representing marketable securities (stock and corporate bonds) listed in foreign markets. Through Cedear, investors can invest domestically, in assets from other countries, with the same rights and benefits of a foreign holder of marketable securities.
GOVERNMENT SECURITIES
Bonds issued by the National, Provincial or Municipal government, or Autonomous Entities. Investors receive a stipulated revenue and the repayment of capital in the form and within the term established.
CORPORATE BONDS
They are debt securities issued by a corporation for the development of investment projects or for other purposes. The issuer shall pay to its debtors (creditors) the stipulated interest rate and shall pay back the capital in the form and within the term established.
SHORT-TERM BONDS
They are Corporate Bonds that mature in less than one year and that are publicly traded after a simplified procedure.
CAPITAL TRUST SECURITIES (VDF AND CP)
They are corporate bonds for debt (VDF) or comparable to capital (CP) issued by financial trusts.
CLOSED-END MUTUAL FUNDS
They are a special type of Investment Fund with a fixed number of shares that may be traded in the markets. The term of Closed-End Mutual Funds is predetermined and cannot be redeemed until settlement of the fund, or until investment plan completion.