B3 and BYMA (Bolsas y Mercados Argentinos) have signed a joint agreement for B3 to provide technology services to BYMA. Through the agreement, Argentina’s leading stock exchange will enter the derivatives markets using B3’s consolidated PUMA Trading System platform.
The provision of these services depends on authorization by Argentinean and Brazilian capital markets regulators.
This type of partnership model is unheard of in Latin America and conveys the potential for joint development through cooperation.
“B3 is very honoured to enter into this partnership agreement with BYMA and with the opportunity to work even closer to the Argentinean market, which is so important for our region. Innovation and joint work are key for the advancement of Latin American markets”, said Roberto Belchior, B3’s Market Development managing director for Latin America.
Ernesto Allaria, BYMA CEO, said: “The partnership between B3 and BYMA allows our market to develop derivatives trades into a platform of excellence in line with BYMA’s commitment to incorporate internationally recognized technologies. “This agreement consolidates our institutional relations with B3, one of the world’s main markets, a leader in the region and a company with a strong vocation to contribute with the growth of capital markets”.