Argentina: Over the counter against payment settlement for fixed income transactions

10.01.2019

Clearstream Banking1 informs customers that following the communications N°8596 and N°8623E of 2017 from Caja de Valores, the Argentinian CSD, effective

immediately

customers can execute pure OTC fixed income trades through MAE’s clearing platform, MAECLEAR.

MAE has announced their ability to offer an against payment environment using MAE’s clearing platform, MAECLEAR, for OTC fixed income transactions.

Currently, transactions that settle through MAECLEAR must include at least one MAE registered participant in the market. This new service will allow those OTC trades (for example, trades agreed between two foreign investors, or between a foreign investor and a non-MAE participant) to settle within that platform, benefitting from the against payment environment and the netting multilateral model, although MAE will not guarantee trade settlement.

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.

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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.