Argentina CSD uses Nasdaq technology to increase production capacity

BUENOS AIRES – Caja de Valores, Argentina’s only Central Securities Depository (CSD), has successfully deployed a new technology platform provided by Nasdaq to improve operational capabilities and efficiency in response to growing market demand. This development, officially announced today, marks an important milestone in the modernization of Argentina’s capital markets infrastructure.

Nasdaq’s implementation of CSD technology is part of a multi-year plan to replace Caja de Valores’ legacy system, which has been under pressure from a significant increase in trading volumes. Launching in September 2023, the new platform is designed to be elastic and scalable, capable of processing more than 1,000 settlements per second, 300 times faster than the previous legacy platform.

The Buenos Aires Stock Exchange (BYMA), owner of Caja de Valores, reported a 49% increase in average monthly trading volumes and a significant increase in business since the introduction of the new system. BYMA CEO Gonzalo Pascual Merlo is proud of this historic move for Argentina’s capital markets and highlights the collaborative efforts with Nasdaq and the country’s commitment to economic development Promise of.

The new platform is expected to reduce time to market for new asset classes and services and will be regularly updated to maintain international standards and best practices. Non-standard tools specific to the Argentinian market are still running on the old system and are scheduled to be migrated to the new platform in the first quarter of 2024.

Magnus Haglind, senior vice president and head of market technology at Nasdaq, emphasized the importance of flexible infrastructure for CSDs to adapt to changes in regulations and market conditions while seizing growth opportunities. As a leading provider of market infrastructure technology, Nasdaq supports more than 130 markets and regulators in more than 50 countries.

The information in this article is based on press release statements.

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