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Cash transactions

It enables the purchase and sale of a certain amount of marketable securities at an agreed-upon price and with a maturity date according to agreed-upon terms. Cash transactions are currently tendered to be settled immediately (T0), within 24 hours (T+1) or within 48 hours (T+2) for the established types and times. Transactions may be settled both in Argentine Pesos or United Stated Dollars (through domestic financial system accounts or foreign accounts). Cash transactions may require guarantees at BYMA’s sole discretion.

Term transactions

These are transactions with a settlement date above T+2. Member Brokers constitute guarantees for the term settlement of these transactions based on BYMA requirements and BYMA manages and monitors these transactions at all time.

The following are term transactions authorized by BYMA:

  • Fixed Term Transactions

    Fixed Term Transactions are transactions on which buyer and seller specify a certain date to complete the transaction and are legally bound, establishing a term to settle the transaction.

  • Swap

    Swap is a contractual agreement between two counterparties to exchange cash flows, consisting in an exchange of cash or for a specific term of a series and y the simultaneous reverse exchange transaction of the same series, for one principal and in a subsequent maturity.

  • Guaranteed Security

    It is a financial transaction backed by marketable securities. On the date of the agreement, the Holder deposits securities as collateral and receives funds from the Underwriter. At maturity date, Holder shall pay the Underwriter the amount received and the agreed-upon interests, and shall recover the collateral deposited. BYMA manages and monitors the level of guarantees during the transaction term.

  • Options

    It is a contract through which the option holder purchases at a specific price (premium) the right to buy (call option) or sell (put option) a certain amount of underlying marketable securities at an agreed-upon price (the strike price) before a specific date (exercise date).
    The operating modality adopted by BYMA is called American option: options may be exercised at any time until their maturity date and the underlying assets are marketable securities, equity and fixed income investments.

  • Securities Lending

    It is an agreement through which a Member Broker (the Underwriter) undertakes to temporarily transfer ownership of certain securities to another Member Broker (the Holder) who, in turn, upon expiration undertakes to buy back from Underwriter other securities of the same issuer, class and series, together with payment of the agreed-upon consideration and ownership rights that may be applicable during the term of the agreement.

  • Trading Lots

    This is a term trade transaction, with conditions similar to regular cash transactions, by means of which investors can ensure a predetermined buy/sell price of fixed or variable income securities as of a certain delivery date (last trading day of the month) with daily settlements of price differences (compared with previous day closing).

  • Futures:

    Futures are contracts in which the parties commit themselves to buy or sell an asset, whether a physical asset or a financial instrument (underlying asset) at a predetermined future date and price.