The National Securities Commission, the governmental body that regulates the activity of the stock exchange, began this morning to conduct face-to-face inspections and controls over the process and the type of requests submitted by these companies, which are considered a way to reach the dollar with the settlement. Source: Archive
The government is progressing in its strict control over the financial exchange rate, this time with a magnifying glass on the settlement and clearing agents (ALyCs, Formerly known as brokerage firms). This morning National Value Authority, The government body that regulates the stock market activity has begun to conduct face-to-face inspections and controls over the process and the type of requests submitted by these companies.
The Financial exchange rates They are MEP dollar and cash with settlement (CCL or “cable”), which is accessed by buying and selling of peso and dollar listed assets, such as some bonds and stocks.
The inspections arise from possible violations of the provisions of General Resolution 878/2021, published on January 11. Source: Archive
The Searching operations They are the result of possible violations of the provisions of General Resolution 878/2021 published on January 11, according to Telam. This decision shortened the minimum period of holding an asset from 48 to 24 hours for subsequent sale to allow currency exchange between stores, ie what is called “parking” according to financial terms.
But just in case Dollar cable, That is, among the transactions executed to send foreign currencies abroad through this mechanism, this decision limited the net short positions that licensed operators (ALyCs) would hold to “100,000 nominal weekly” in the case of these operations.
The inspections arise from possible violations of the provisions of General Resolution 878/2021, published on January 11. Source: Archive
This Specify It applies only to “customer accounts not included in the concept of portfolios ALyCs, For a group of fixed income tradable sovereign securities that are nominated and paid in US dollars under domestic law, in the bidding intervention portion with the priority price time.
CNV sources reported that the ongoing process “is primarily aimed at preventing harm to investors,” and that is why the oversight mechanisms available to it as a regulatory entity have been intensified.
This week, in addition, and based on information provided by the Central Bank and CNV, the AFIP sent notifications to 2,000 companies that failed to comply with the requirements for accessing state aid to pay salaries, the ATP program. Credit: Shutterstock
This week in addition to the information provided by the Central Bank and CNV, The AFIP sent notifications to 2,000 companies that failed to comply with the requirement to access state aid to pay salaries, the ATP program. As known Nation, Most of these defaults are related to the purchase of monetary exchange rates, i.e. MEP and CCL.
Meanwhile this morning Electrical and mechanical engineering It grew 1% to $ 146.77. Cash with settlement advanced 0.7% to $ 148.39. Both exchange rates became attractive when their prices began to fall below value Dollar ‘savings’, That is, the official retail exchange rate with taxes and discounts, which today stands at $ 151.35.
Dollar and MEP dollar cash with settlement are two legal options to avoid foreign exchange market restrictions Source: Archive
he is MEP dollar and dollar cash with settlement They are two legal options to avoid market restrictions Currency exchange rate. These prices do not contain quantitative restrictions (that is, they do not apply exchange restrictions as in the formal system), nor the PAIS tax and do not withhold 35% on the profit or personal assets account. However, one must take into account the “costs” of owning a client account, that is, the account that allows you to buy and sell securities and stocks.
From October 2020 The government has devised a plan to narrow the gap between the official dollar and the fiscal dollar, which is more than 100%. It began by shortening the “standstill” times, that is, the residence times of financial assets, an important step in purchasing these exchange rates. Then he made direct interventions by selling the bonds to lower the price.
Step by step how to operate MEP and CCL
These are the steps to follow to make a dollar or cash transaction with settlement.
- Transfer of pesos from the home bank to the customer’s account
- Buy Argentine bonds that are paid out in pesos on the same day, such as the AL30
- Adhere to “parking” for a day
- Sell the same number of books as you bought in the same period, but for a dollar. If this is done against the MEP dollar, “argendollars” are received. If sold abroad, they receive “cable dollars”.
- Those generated dollars can be returned to your home banking account if needed
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