In 2007, Primary and Mendoza Stock Exchange executed a 10-year agreement for the development and operation of new financial platforms, products and services.
As a result of this initiative, the number of Securitys Brokers that trade at this exchange grew from 12 to 26 last year, with another 8 pending approval, and market valuation increased three-fold based on the expectations around it.
Mendoza Stock Exchange is the third market to be operated by Primary in Argentina, besides Rofex and MEC, which combined trade more than 11 billion dollars a month in futures, options and currencies.
âThis new system is designed to make access to markets simple and widely available, and contribute to the future local and regional integration of exchanges thanks to its open architecture based on international standards like FIX -Financial Information Exchange Protocol-,â said Ignacio Plaza, Managing Director of Primary.
Director of Mendoza Stock Exchange Luis Abrego explained that âas is customary in the most developed exchanges, brokers will be able to receive orders via the Internet, mobile networks and other existing professional distribution networks âsome with over 100,000 terminals, such as Bloombergâ¢ or Reutersâ¢- which connect to the exchange, including international data vendors, global transactional connectivity suppliers and ISVâs.â âInitially, we will deploy an infrastructure with a processing capacity of 2,500,000 orders a day, i.e. around 10 times more than the total number of orders usually processed by Argentinean exchanges in the aggregate,â added Abrego.
Alfredo Conde, Director of Primary, emphasized that âthis platform will enable investors to trade a wide range of assets, and to access real time information quickly and smoothly.â