B3 has agreed to provide technology services to Argentina’s stock exchange, Bolsas y Mercados Argentinos (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.
Partnership model is unheard of in Latin America and conveys the potential for joint development through cooperation.
B3 Latin America market development managing director Roberto Belchior said "B3 is very honored 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.”
BYMA CEO Ernesto Allaria 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.”
Source: Company Press Release