09:52 AM
Regulator Authorizes First DMA Provider in Argentina
Primary Trading Solutions, a Latin American provider of securities and financial transaction technology, has received authorization and technical certification from Rofex, an Argentinean futures exchange, to provide its DMA platforms to brokers.
Primary is the first authorized DMA provider and aims to make access to local exchange fully automated and more widely available.
In a company statement, Hernan Fardi, Vice president of the Argentine Securities Exchange Commission (Comisión Nacional de Valores-CNV), which regulates Argentina's capital markets, said, “At the CNV, we appreciate and encourage these types of initiatives that add to the development of the Argentine capital market, while strengthening investor protection principles, equity, efficiency, transparency and systemic risk reduction.”
He added, “Additionally, as part of a natural synergy, the deployment of this type of electronic transaction technology by Argentine companies not only boosts the local software industry but also takes the capital market to a whole new level.”
Diego Fernandez, CEO at Rofex, continued, “With DMA, brokers now have a very powerful tool to attract more orders from their existing customers and to get new customers who up to now have chosen foreign markets for their ease of access. DMA offers speed, transparency and security, all benefits that until now were unavailable to the end customer and which will also translate into higher revenues for brokers.”