Ariel Sbdar, from Cocos Capital: “If Javier Milei wins, it will be complicated”

Ariel Sbdar, Founder & CEO of Cocos Capitalpresented this week Cocos PRO LITE. Since the event she spoke about how she sees prior to the presidential elections and eventually What could happen to the capital market if a dollarization of the Economy actually occurs.

“We had a lot of volume this week, impressive. We adapt quickly to the regulations and we get up to speed to bring them up to date with the requirements of the National Value Comission“he commented to Ambit, Sbdar.

This week it became known that The CNV limited the purchase operation of financial dollars for clients located abroadafter an express request from the Central Bank on October 5.

In this way, through General Resolution 981/2023, the capital market regulatory body established a series of regulations for the actions of Negotiation Agents (AN) and Settlement and Clearing Agents (ALYC) with the objective of control financial speculation amid the strong volatility experienced by the MEP and the CCL.

In this regard, the CEO of Coconutssaid: “Spray a little because the large volume of pesos that now cannot come to dollar cable, that is, has to do something else. It does not only impact outside, but also for people here because if it is more than 200 million pesos you have to ask for permission, that is, for at least five days you will spray it.”

Regarding the presidential elections, which we are less than 10 days away from holding, he said that “if Javier Milei wins it will be complicated. It’s not just if she wins, it’s what Milei does. It will be necessary to see if she dollarizes hard or dollarizes soft. Or, on the contrary, she does not dollarize.

Despite this, Sbdar was optimistic:“Unlike many others, we have a very important technology team that, just as we adapt to regulations, we will adapt to the new market.”

Regarding an eventual dollarization, he compared, “People today operate in the MEP dollar. We will have other assets and the stock market dollar will cease to exist”. Regarding this definition that the capital market in Argentina became accustomed to being an exchange house, he said that “the stock market is dynamic, it is not static, and people will always look for other alternatives.” In this regard, he recalled that in the ’90s no one was worried about acquiring dollars but that did not mean they stopped investing.

What’s new from Cocos Capital

“What we did was in July we launched Cocos Pro, for a high volume type. It ranges from 300 to 10,000 official dollars. Now what we are doing is lowering it by half to $150 to the official price. That is Coco PRO lite, with a quota of 100 million pesos per day we only charge the membership, and then the market rights.”he explained Sbdar.

This is “a particularly important segment because it is the way we make the user evolve. It is a user that starts without commissions but who wants a more PRO product and in some way we professionalize it“. Cocos Capital stands out for not charging commissions to most of its users and recalled that “almost nothing is billed out there, we only charge 0.25 when you want to sell a bond against D.”