The London Stock Exchange will provide technology and business development help to Argentinian CSD Caja de Valores (CVSA) under a deal designed to boost the South American country's capital markets.
Last year, Argentina's Congress approved sweeping capital markets reform legislation, prompting two exchanges, the Bolsa de Comercio de Buenos Aires and Mercado de Valores de Buenos Aires, to join forces and create a new bourse.
CVSA is the technology partner for this new exchange, called Bolsa & Mercados Argentinos (B&MA), and has called in the LSE's MillenniumIT technology unit to supply capital markets tech across asset classes, including its trading platform, Millennium Exchange. The LSE will also provide a range of "ancillary" services to help further develop the Argentinian capital markets.
Ernesto Allaria, director, B&MA, says: "Selecting MillenniumIT as our technology provider offers B&MA significant opportunities to take advantage of more globally interconnected markets. This represents an important step forward for B&MA as well as the rest of Argentina's capital markets."
Mack Gill, CEO, MillenniumIT, adds: "This is a significant contract win for us. Argentina is one of the largest economies in Latin America and we are delighted they have chosen MillenniumIT to further develop their capital market infrastructure."