Nasdaq has signed a deal to provide the post-trade technology infrastructure to Argentina’s central securities depository (CSD), Caja de Valores.
The upgrade to its post-trade technology will allow Caja de Valores to process larger volumes of transactions much faster, while also meeting international standards in CSD products and messaging services.
The technology will also help the CSD launch new products and services to clients, including registrar services.
“Caja de Valores has made important progress in the development and modernization of the capital markets in Argentina, including embracing next generation technology,” said Carlos Patino, head of Latin America and the Caribbean, ,market technology, Nasdaq.
“Our solution they are adopting is specifically designed for best-in-class CSDs and constructed for low cost-of-ownership, rapid delivery and with the ability to adapt to multiple business models and changing market conditions.”
Caja de Valores is the second Latin America-based CSD to use Nasdaq for their post-trade technology overhaul.
In 2017, Chile’s Deposito Central de Valores (DCV) signed a deal to adopt Nasdaq’s CSD solution, enabling it to provide seamless trade and instruction management and enhanced settlement and custody capabilities, as well as full straight-through processing (STP) based on global standards.
Over the past few years, Nasdaq has become the technology provider of choice for many emerging markets CSD, including Saudi Arabia, India and the baltics. It is also providing the post-trade technology for South Africa’s CSD, Strate, and SIX Group in Switzerland.