Argentina’s CSD joins Swift
13 September 2016 | 1886 views | 0
SWIFT announced today that Argentina’s CSD, Caja de Valores, is now fully operational directly on its network. In an effort to increase efficiency and resilience in Argentina’s capital markets, the CSD is executing all its international transactions via SWIFT.
“Caja de Valores is thrilled to evolve its relationship with SWIFT. This is a critical milestone that will help enhance our global competitive prowess. This is clear proof of our firm’s steadfast commitment to help further the nation’s capital markets revitalization,” says Alejandro Berney, Chief Executive Officer, Caja de Valores. “By connecting directly to SWIFT, automating and standardizing our operations, we can better support the growth of our local capital markets and attract foreign investment.”
In July 2016, the Argentinian government pledged to help revive the currently fragmented capital markets by supporting the creation of B&MA, the country’s bet to provide its markets with access to more financial instruments and boost its competitive position in the region.
“SWIFT is pleased to support Caja de Valores in its quest to operate at a global level and seize the opportunities presented by Argentina’s current context” adds Fabian Banchiero, Senior Business Manager, Securities Initiatives, SWIFT. “SWIFT has been working with financial market infrastructures (FMI) for over 40 years and is particularly glad to support Latin American players in staying at the forefront of the market’s globalization.”
SWIFT serves more than 230 FMI around the world across payments, securities and treasury markets, allowing them to process transactions, mitigate risk, and increase their operational efficiency.