ARGENTINA: BYMA Incorporates Short Selling

Friday April 20 2018

Bolsas y Mercados Argentinos has announced the incorporation of “Short Selling” as a new transaction type and has also updated the “Securities Lending” conditions, which shall be governed by best practices and international regulations, therefore promoting our country possible re-entry into the EMERGING MARKET status.

Both transactions can be traded in the MILLENNIUM platform, which is used by BYMA, in the secondary trading segment and under Price-Time Priority terms, with collateral management to be provided by BYMA as central counterparty to insure the settlement of these trades on their maturity date.

The new transaction “Short Selling” shall be governed by BYMA Circular No. 3575  and the transaction “Securities Lending” by BYMA Circular No. 3574, both approved by COMISIÓN NACIONAL DE VALORES (CNV) (NATIONAL SECURITIES COMMISSION) on 12 April 2018, in compliance with the provisions set forth by General Resolution No.  720/18 issued by the CNV on 11 January 2018.

As a complement and prior to their launching, BYMA will provide information on which securities will be traded under “Short Selling” and “Securities Lending” transactions, as well as the initial margin and operative quotas to be fulfilled by the participants.

Click on the above link for further details.