Argentina’s BYMA to Adopt Nasdaq’s Clearing Platform
Nasdaq (NDAQ) and BYMA, Argentina's leading stock exchange group, have expanded their technology partnership. BYMA will adopt Nasdaq's real-time clearing platform for its central counterparty clearinghouse (CCP), complementing their existing partnership with Caja de Valores, Argentina's central securities depository. This move will enhance BYMA's post-trade ecosystem, improving speed, capacity, and connectivity while optimizing risk management.
The new system will allow BYMA to add capacity during high-volume periods and launch new products more quickly. It supports BYMA's shift to a model where cash and security settlement occurs at the central securities depository after netting at the clearing house, aligning with international best practices. This change will centralize liquidity, optimize collateral management, and simplify BYMA's existing structure.
Nasdaq (NDAQ) e BYMA, il principale gruppo di borse valori argentini, hanno ampliato la loro partnership tecnologica. BYMA adotterà la piattaforma di liquidazione in tempo reale di Nasdaq per il suo clearinghouse centrale (CCP), completando la loro partnership esistente con Caja de Valores, il deposito centrale di titoli argentini. Questo passo migliorerà l'ecosistema post-negoziazione di BYMA, aumentando la velocità, la capacità e la connettività, ottimizzando nel contempo la gestione del rischio.
Il nuovo sistema permetterà a BYMA di ampliare la capacità durante i periodi di alta attività e di lanciare nuovi prodotti più rapidamente. Supporta il passaggio di BYMA verso un modello in cui la liquidazione di contante e titoli avviene presso il deposito centrale di titoli dopo la compensazione presso il clearinghouse, allineandosi con le migliori pratiche internazionali. Questo cambiamento centralizzerà la liquidità, ottimizzerà la gestione dei collaterali e semplificherà la struttura esistente di BYMA.
Nasdaq (NDAQ) y BYMA, el principal grupo de bolsas de valores de Argentina, han ampliado su asociación tecnológica. BYMA adoptará la plataforma de liquidación en tiempo real de Nasdaq para su cámara de compensación central (CCP), complementando su asociación existente con Caja de Valores, el depósito central de valores de Argentina. Este movimiento mejorará el ecosistema post-negociación de BYMA, aumentando la velocidad, la capacidad y la conectividad, al tiempo que optimiza la gestión de riesgos.
El nuevo sistema permitirá a BYMA agregar capacidad durante períodos de alto volumen y lanzar nuevos productos más rápidamente. Apoya el cambio de BYMA hacia un modelo en el que la liquidación de efectivo y valores se lleva a cabo en el depósito central de valores después de la compensación en la cámara de compensación, alineándose con las mejores prácticas internacionales. Este cambio centralizará la liquidez, optimizará la gestión de colaterales y simplificará la estructura existente de BYMA.
나스닥 (NDAQ)과 BYMA, 아르헨티나의 주요 증권 거래소 그룹이 기술 파트너십을 확장했습니다. BYMA는 중앙당사자청산소(CCP)를 위해 나스닥의 실시간 청산 플랫폼을 도입할 예정이며, 이는 아르헨티나 중앙 증권 예탁기관인 Caja de Valores와의 기존 파트너십을 보완합니다. 이번 조치는 BYMA의 거래 후 생태계를 향상시켜 속도, 용량 및 연결성을 개선하고 리스크 관리를 최적화할 것입니다.
이 새로운 시스템은 BYMA가 고용량 기간 동안 용량을 추가하고 새로운 제품을 더 빠르게 출시할 수 있도록 합니다. 이는 현금 및 증권 결제가 청산소에서 상계된 후 중앙 증권 예탁기관에서 이루어지는 모델로의 전환을 지원하며, 국제 모범 사례와 일치합니다. 이 변화는 유동성을 중앙집중화하고 담보 관리를 최적화하며 BYMA의 기존 구조를 간소화할 것입니다.
Nasdaq (NDAQ) et BYMA, le principal groupe de bourses argentines, ont élargi leur partenariat technologique. BYMA adoptera la plateforme de compensation en temps réel de Nasdaq pour sa chambre de compensation centrale (CCP), complétant ainsi leur partenariat existant avec Caja de Valores, le dépositaire central de titres argentins. Cette initiative améliorera l'écosystème post-négociation de BYMA, augmentant la vitesse, la capacité et la connectivité tout en optimisant la gestion des risques.
Le nouveau système permettra à BYMA d'augmenter sa capacité pendant les périodes de forte activité et de lancer de nouveaux produits plus rapidement. Il soutient le passage de BYMA vers un modèle où le règlement des liquidités et des titres a lieu au dépositaire central de titres après la compensation à la chambre de compensation, conformément aux meilleures pratiques internationales. Ce changement centralisera la liquidité, optimisera la gestion des garanties et simplifiera la structure actuelle de BYMA.
Nasdaq (NDAQ) und BYMA, die führende Börsengruppe Argentiniens, haben ihre Technologiepartnerschaft erweitert. BYMA wird die Echtzeit-Abwicklungsplattform von Nasdaq für seine zentrale Clearingstelle (CCP) übernehmen, was die bestehende Partnerschaft mit Caja de Valores, dem zentralen Wertpapierdepot Argentiniens, ergänzt. Dieser Schritt wird das Post-Trade-Ökosystem von BYMA verbessern, indem er Geschwindigkeit, Kapazität und Konnektivität erhöht und gleichzeitig das Risikomanagement optimiert.
Das neue System ermöglicht es BYMA, die Kapazität in Hochlastzeiten zu erhöhen und neue Produkte schneller auf den Markt zu bringen. Es unterstützt den Wandel von BYMA zu einem Modell, bei dem die Abwicklung von Bargeld und Wertpapieren nach der Nettoabrechnung in der Clearingstelle im zentralen Wertpapierdepot erfolgt, was den internationalen Best Practices entspricht. Diese Änderung wird die Liquidität zentralisieren, das Collateral-Management optimieren und die bestehende Struktur von BYMA vereinfachen.
- BYMA adopting Nasdaq's real-time clearing platform, enhancing post-trade capabilities
- Improved speed, capacity, and connectivity of BYMA's post-trade network
- Enhanced risk management through real-time data access and advanced analytics
- Increased operational resiliency and flexibility to launch new products
- Alignment with international best practices for cash and security settlement
- Centralized liquidity and optimized collateral management for members
- Simplification of BYMA's existing structure for settlement, clearing, and risk processing
- None.
Insights
BYMA's adoption of Nasdaq's clearing platform marks a significant upgrade in Argentina's financial market infrastructure. This move aligns with global best practices, potentially enhancing liquidity and operational efficiency. The centralization of cash and security settlement at the CSD after netting at the clearinghouse is a key improvement. This could lead to better collateral management and reduced counterparty risk for market participants. The platform's scalability and modular architecture suggest improved capacity to handle market growth and launch new products, which could boost BYMA's competitiveness. However, the implementation costs and potential transitional challenges should be monitored. Overall, this technological upgrade positions BYMA well for future market expansion and regulatory compliance.
The adoption of Nasdaq's real-time clearing platform represents a significant technological leap for BYMA. Key benefits include enhanced real-time data access, advanced risk analytics and improved operational resiliency. The platform's use of industry-standard APIs should improve connectivity and integration capabilities. The modular architecture is particularly noteworthy, allowing for rapid capacity scaling and faster time-to-market for new products. This flexibility is important in today's fast-evolving financial markets. The consolidation of settlement, clearing and risk processing into a single system should reduce operational complexity and improve efficiency. However, the transition may pose technical challenges, including data migration and system integration, which will require careful management to ensure smooth implementation.
This partnership expansion signifies BYMA's strategic positioning in the evolving global financial landscape. With 1 million daily trades and 1.5 million active monthly investment accounts, BYMA's growth trajectory necessitates this technological upgrade. The move towards a more integrated post-trade ecosystem aligns with international trends and could potentially attract more foreign investment. The enhanced capacity and shorter time-to-market for new products could allow BYMA to diversify its offerings and capture emerging market opportunities. However, the success of this initiative will depend on market participant adoption and the seamless integration of the new system. It's also worth noting that while this upgrade addresses infrastructure needs, market growth will still be influenced by broader economic factors and investor confidence in Argentina's financial markets.
BYMA to base its entire post-trade ecosystem on Nasdaq technology
Argentinian exchange group to adopt Nasdaq’s real-time clearing platform, expanding the companies’ existing Central Securities Depository partnership
The clearing platform will enhance capacity and connectivity whilst reducing operational complexity
NEW YORK and BUENOS AIRES, Argentina, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) and BYMA, Argentina’s leading stock exchange group, today announced a significant expansion of their technology partnership that will see BYMA base its entire post-trade ecosystem on Nasdaq technology.
Under the terms of the agreement BYMA will adopt Nasdaq’s real-time clearing platform at its central counterparty clearinghouse (CCP), complementing Nasdaq’s existing technology partnership with Caja de Valores, Argentina’s central securities depository, which is also owned by BYMA.
Together, the platform allows BYMA to improve the speed, capacity, and connectivity of its post-trade network, whilst optimizing risk management across the system through more real time access to data, advanced risk analytics, and greater operational resiliency. In addition, it aims to enhance reconciliation and the digital experience for clearing members, drawing on industry standard APIs.
The clearing system will be able to add capacity rapidly through periods of heightened volume, while its modular architecture offers BYMA the flexibility to launch new products and services with a much shorter time-to-market.
The move will support BYMA’s shift to a model where cash and security settlement takes place at the central securities depository after netting has taken place at the clearing house, in line with international best practice. This will allow liquidity to be centralized and optimize collateral management for members, whilst ensuring a clear distinction of functional capabilities between the two entities. It also simplifies the company’s existing structure whereby settlement, clearing, and risk are processed independently across three different systems.
Magnus Haglind, Senior Vice President, Marketplace Technology at Nasdaq, said: “Market operators globally are navigating a series of market reforms, more intense regulation, and an increasingly complex operating environment. Nasdaq is playing a powerful role helping to simplify post trade architecture, ensuring operators have the technology to respond to new challenges, capture market opportunities, and scale as they capitalize on a new wave of innovation. Consolidating BYMA’s post trade operation on Nasdaq’s platform marks another major step forward in the growth and development of the Argentinian market.”
Ernesto Allaria, BYMA Chairman said: “We are taking a crucial and pioneering step within the local market which seeks to integrate the whole trading life cycle with a system in line with most developed global markets’ standards. Our aim is to give market participants access to cutting-edge leading platforms through which they can conduct their day-to-day activities. We celebrate this crucial step taken towards strengthening our strategic partnership with Nasdaq.”
Gonzalo Pascual Merlo, BYMA CEO, added: “Partnering with a leading global strategic partner such as Nasdaq reconfirms our commitment to innovation to turn investment into growth and development. Within this current context of increasing market growth, our priority is to build the basic infrastructure needed to drive Argentina's economic growth. We are fully aware of the role that the Argentine Capital Market needs to play to achieve this aim. For this purpose, we are providing for scalable and efficient platforms and systems to enable Argentinians meet their investment and financial goals.”
BYMA has experienced significant growth in recent years, today serving 1 million trades per day with roughly 1.5 million investment accounts active every month, while also expanding into new asset classes and services. To ensure its markets remain robust, scalable, and resilient in the face of its increasingly complex global marketplace, BYMA has continued to invest in its underlying technology architecture. Expanding its partnership with Nasdaq represents the next step in its investment program, helping to ensure safe, dynamic and reliable integrated post-trade operations.
In September 2023, the Central Securities Depository successfully launched its new platform, securing their ability to meet immediate operational and performance needs, future proof the business, and position the business to capitalize on future growth opportunities.
As a scaled platform partner, Nasdaq draws on deep industry experience, technology expertise, and cloud managed service experience to help 3,500+ banks, brokers, regulators, financial infrastructure operators, and buy-side firms solve their toughest operational challenges while advancing industrywide modernization. Its Marketplace Technology business serves as one of the world's largest market infrastructure technology providers, providing multi-asset solutions to more than 130 marketplaces, CCPs, CSDs and regulators in over 50 countries. It offers reliable and scalable technology across the trade lifecycle, helping organizations to drive efficiency, transparency, and liquidity.
About BYMA
BYMA is the leading Stock Exchange in Argentina that combines liquidity, know-how and expertise to tackle today’s financial challenges and demands, driving investment into job opportunities and country development. Integrated under a cutting-edge technological platform, following the leading global markets’ quality and security standards, BYMA offers organizations, companies and the general public a safe and transparent access to the investment world. BYMA is also the controlling shareholder of Caja de Valores S.A., the entity acting as the only Central Securities Depository in Argentina. We are the only exchange that can offer trade, post-trade and custody related services for any type of securities in Argentina, to local and foreign market participants. To learn more about the company, visit us on LinkedIn, on X @BYMAOficial or at https://www.byma.com.ar/en.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.
BYMA Media Contact
Bernarda Eckell
comunicacion@byma.com.ar
Nasdaq Media Contact:
Andrew Hughes
+44 (0)7443 100896
Andrew.Hughes@nasdaq.com
-NDAQG-
Cautionary Note Regarding Forward-Looking Statements:
Information set forth in this press release contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “can”, “will” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to the benefits of Nasdaq’s post trade technology solutions. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
FAQ
What technology is BYMA adopting from Nasdaq (NDAQ) for its clearing operations?
How will the new Nasdaq (NDAQ) clearing platform benefit BYMA's operations?
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