SWIFT Integrates Argentina’s Central Securities Depository into its Network

Argentina’s CSD has linked into SWIFT, creating a more favorable environment for capital markets.

SWIFT, a global financial messaging network, has announced the operational functionality of Argentina’s Central Securities Depository (CSD), Caja de Valores, which has now been integrated directly into its comprehensive messaging network, according to a SWIFT statement.

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The development follows after a bid to help strengthen the overall efficiency and fortitude of Argentina’s capital markets, which will now see the CSD executing all its international transactions via SWIFT’s interface.

This also included earlier concessions made back in July 2016 from the Argentinian government, which had pledged to help kindle its fragmented capital markets by supporting the creation of B&MA. The B&MA exchange is a partnership between the Buenos Aires Stock Exchange and Merval, an association of Argentine brokers responsible for market operation in Buenos Aires.

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Regional Presence

As such, Argentina has opted to provide its markets with access to more financial instruments, ultimately boosting its competitive position in the region. SWIFT has already maintained a global presence on the continent, and the integration of CSD into the mantle of its network will help mitigate risk and increase operational efficiency.

According to Alejandro Berney, Chief Executive Officer (CEO) of Caja de Valores, in a recent statement on the integration: “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.”

“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,” he added.

“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 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,” noted Fabian Banchiero, Senior Business Manager, Securities Initiatives, SWIFT in an accompanying statement.

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