Nasdaq has partnered with Caja de Valores S.A., Argentina’s Central Securities Depository (CSD) and an integral part of Bolsas y Mercados Argentinos (BYMA), to deliver a full CSD technology solution to Caja de Valores including registrar services.
By leveraging Nasdaq’s technology, Caja de Valores will be upgrading its current in-house developed system.
The new solution upgrades Caja de Valores’ proprietary system as it allows them to process larger volumes of transactions with a significantly increased speed and agility, while also meeting international standards in CSD products and messaging services. Nasdaq’s tech will also contribute to the launching of new products and services to their existing client base and future customers alike.
Ernesto Allaria, Chairman of BYMA and Caja de Valores, said:
“The Argentine economy needs a capital market that can progressively contribute to its growth. To be able to support the expansion, Caja de Valores is upgrading its technology infrastructure, a key pillar in the overall modernization of the company. We selected Nasdaq due to its state of the art technology as well as the knowledge and expertise of its teams. We truly believe we have found a partner to help us execute on our mission of growing the Argentine capital market.”
Carlos Patino, Head of Latin America and the Caribbean, Market Technology, Nasdaq, added:
“Caja de Valores has made important progress in the development and modernization of the capital markets in Argentina, including embracing next-generation technology. Our solution they are adopting is specifically designed for best-in-class CSDs and constructed for low cost-of-ownership, rapid delivery, and with the ability to adapt to multiple business models and changing market conditions.
We look forward to supporting Caja de Valores as they continue to execute on their vision.”
The deal with Argentina’s Central Securities Depository (CSD) marks with Nasdaq’s second CSD client in Latin America.
Argentina, which is suffering from a volatile fiat currency, the Argentine Peso, has recently seen Beijing-based cryptocurrency exchange OKCoin expanding to Latin American markets, starting off with a local office in Buenos Aires. The operator offers fiat-to-crypto transactions between the Argentine peso and several major cryptocurrencies, with traders being able to deposit the Argentine peso (ARS) in exchange for cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, Cardano, Stellar, Zcash and 0x.