Caja de Valores Implements Nasdaq Technology to Boost Operational Capacity
Caja de Valores, the sole Central Securities Depository (CSD) in Argentina, has successfully implemented a new technology platform provided by Nasdaq, aiming to enhance operational capacity and performance in the face of growing market demands. This development was formally announced today, marking a significant milestone in the modernization of Argentina’s capital market infrastructure.
Nasdaq’s CSD Technology Enhances Performance for Argentina’s Caja de Valores
The deployment of Nasdaq’s CSD technology has been part of a multi-year initiative to replace Caja de Valores’ legacy systems, which had been strained by substantial increases in transaction volumes. The new platform, which went live in September 2023, is designed to be resilient and scalable, capable of processing over 1,000 settlements per second—more than 300 times faster than the previous system.
New Nasdaq Platform Increases Transaction Volumes for Buenos Aires Stock Exchange
The Buenos Aires Stock Exchange (BYMA), the owner of Caja de Valores, has reported a 49% increase in monthly average transactions since the introduction of the new system, indicating a significant rise in business volumes. Gonzalo Pascual Merlo, CEO of BYMA, expressed pride in this historic step for the Argentine capital market, highlighting the collaborative effort with Nasdaq and the commitment to the country’s economic development.
Argentina’s Capital Market Infrastructure Modernized with Nasdaq’s Platform
The new platform is expected to reduce the time-to-market for new asset classes and services, with regular updates to maintain international standards and best practices. Non-standard instruments, unique to the Argentine market, are still operated on the old system, with plans to migrate them to the new platform within the first quarter of 2024.
Nasdaq’s Technology Update to Reduce Time-to-Market for Argentine Market
Nasdaq’s SVP and Head of Marketplace Technology, Magnus Haglind, emphasized the importance of agile infrastructure for CSDs to adapt to regulatory changes and market conditions while seizing growth opportunities. Nasdaq, as a leading provider of market infrastructure technology, supports over 130 marketplaces and regulators in more than 50 countries.
In conclusion, the implementation of Nasdaq’s technology platform has significantly enhanced the operational capacity and performance of Argentina’s Caja de Valores. With the new platform in place, the Buenos Aires Stock Exchange has experienced a substantial increase in transaction volumes. This development marks a major step forward in the modernization of Argentina’s capital market infrastructure and is expected to further reduce time-to-market for new asset classes and services. Nasdaq’s expertise in market infrastructure technology has proven to be instrumental in supporting the growth and regulatory adaptability of CSDs around the world.
Analyst comment
Positive news: The implementation of Nasdaq’s technology platform has enhanced the operational capacity and performance of Argentina’s Caja de Valores. The Buenos Aires Stock Exchange has seen a significant increase in transaction volumes. This development modernizes Argentina’s capital market infrastructure and reduces time-to-market for new asset classes and services. Nasdaq’s expertise has proven instrumental in supporting the growth and regulatory adaptability of CSDs worldwide.
