Press release
Argentina’s CSD Caja de Valores Adopts Nasdaq Technology to Modernize the Country’s Post-Trade Infrastructure
Argentina’s Central Securities Depository (CSD) has successfully launched its new technology platform Rapidly accelerated launch timetable secures the
About this update from Nasdaq, Inc.
[{"type":"text","content":"Argentina’s Central Securities Depository (CSD) has successfully launched its new technology platform\n Rapidly accelerated launch timetable secures the platform’s ability to meet significant increase in volumes \n BUENOS AIRES, Argentina and NEW YORK, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Caja de Valores, Argentina’s Central Securities Depository (CSD), today announced it has launched a new technology platform using Nasdaq’s CSD technology. The platform significantly enhances Caja de Valores’ ability to meet immediate operational and performance needs, future proof the business, and position it to capture new growth opportunities.\n The launch is the culmination of a multi-year, major change program, which began with Caja de Valores recognizing the potential benefits of modernizing its legacy infrastructure to support the continued growth and institutionalization of Argentina’s capital markets.\n In line with many countries around the world, Argentina’s capital market has been subject to periods of substantial increases in volumes which has placed additional strain on the sector’s technology infrastructure. Growth in the market had resulted in Caja de Valores’ technology platform effectively operating at full capacity, necessitating a rapid acceleration of the launch timetable. The core platform went live in September 2023, with more asset classes and additional functionality incorporated ahead of its formal launch in January 2024.\n The new platform significantly enhances the resilience, capacity, and speed of the CSD, capable of processing more than 1,000 settlements per second, more than 300 times faster than the previous system. Its scalable architecture will ensure the platform is able to continue serving the Argentine market as it continues to grow.\n The company has experienced daily average transactions of 700k, with peaks of 865k. This represents an increase of 49% of the monthly average compared to the period prior to the launch of the new system, due to higher business volumes generated by the Buenos Aires Stock Exchange (BYMA), the owner of Caja de Valores.\n Gonzalo Pascual Merlo, CEO of BYMA, said: “We are proud to take this historic step for the custody of the Argentine capital market, which is the result of great teamwork within BYMA and Nasdaq. As an organization, we are committed to the development of the Argentin...