There were gestures of surprise at the City’s tables. This Tuesday, near noon, Byma’s screens showed how the rate of the caution at one day shot unexpectedly. Minutes later, the market informed the stock market agents that it was a “Operating Error” and suspended transactions. At the close of this note, the quotes had returned to “normality,” the operators reported.
One -day bond is a very short -term credit stock operation. It is an investment alternative, guaranteed with negotiable values, for those who seek moderate and safe performance.
At the time of the Concertación, the credit policyholder deposits certain negotiable values in guarantee and receives funds, in this case pesos, of the placer. At the expiration, the policyholder pays to the placer the amount received plus the agreed interests, and recovers the guaranteed guarantee.
The bond rate flew: What happened?
In the opening of the wheel on Tuesday the rate of the bond to one day ranged around 24%. But, minutes before 12, the performance shot up and touched 100% Annual Nominal (TNA). The surprise invaded the City and the disarbitraje became the soil at the tables for some moments.
Minutes later, while traders were looking for alternatives to try to take advantage of the unwatch, bags and Argentine markets (Byma) sent a Message to member agents: “By operational error in pesos-26-02-2025, 35% or higher operations will be lowered.”
After a while, the market screens showed that the TNA of the bond to one day was returning at 24.25%.
What will happen to agreed operations?
Specifically, Byma’s decision implies that Operations agreed at an interest rate of 35% tna or more are canceled. “Everything back back,” an operator told scope.
Salvador VitelliRomano Group economist, explained to this medium that this implies that “If you placed, have the weights again without interest.”. Instead, “if you paid, you don’t have pesos now but you didn’t pay interest.” In other words, for the operations discharged, the exchange returns to the starting point.
Consulted by ScopeArgentine stock market sources and markets explained the following: “due to a operational circumstance framed within the regulation of ‘Trade Error’Byma proceeded to unsubscribe the mentioned bond operations with percentages greater than 35% and registered until 11.54 of the day of the date. “
“The focus of the measure was to avoid errors in price formation. In this case, it is the bond rate, “they added. At the same time they confirmed that, at the moment, The operation of this asset is already regularized and that “the negotiation activity of the rest of the instruments is developed normally from the beginning of the wheel.”
Stocking hubs have deadlines between one and 120 days. The most used are between one and seven days. In general they are used to obtain short -term liquidity or to leverage other types of investments.
Source: Ambito
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