ARGENTINA: CNV Shortens Terms To Settle Purchases Of Shares And Bonds

(RTTNews) - The Argentinean National Securities Commission (CNV) shortened from 72 to 48 hours the payment and accreditation deadlines to settle any bond or stock traded on the Buenos Aires Stock Exchange or the Electronic Open Market.

The move will come into effect from next Monday and is aimed to provide the Argentinean capital market with "greater dynamism, liquidity, and depth."

So far, the market has operated with a 72 hours settlement period, which implies that any agent or individual who buys a bond or stock must wait three days to be able to dispose of it.

Among its arguments, the CNV said that "it must act tending to simplify operations within the capital market to facilitate the access of small investors to it and to promote their integration."