From now on, all entities authorized to operate in the foreign exchange market must channel their operations through the SIOPEL (Electronic Operations System).
According to this day the Central Bank, Entities authorized to operate in the foreign exchange market must channel all their operations through the SIOPEL (Electronic Operations System)by provision of the Board of Directors of the Central Bank of the Argentine Republic.
“The measure will improve control over the operations of agencies and exchange houses”said the monetary entity.
It should be noted that SIOPEL is an electronic trading system developed entirely by MAE (Electronic Open Market, in which foreign currency and securities are traded) that allows transactions with all types of instruments.
Most of the entities authorized to operate in exchanges already use the SIOPEL for their operations and now the exception for some exchange houses and agencies has been eliminated.
“The houses and exchange agencies, until now, in operations of less than $800.00 a day that were not adhered to the system, could operate directly but now that rule is modified and forces them to do everything via SIOPEL but no, no changes a lot. What operates in exchange houses is marginal in the market,” he told Ámbito, Gustavo Quintana from PR foreign exchange operations.
Source: Ambito
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