Directives

Current Directives

Dear Brokers:

It is reported that Matba Rofex SA and Argentina Clearing y Registro SA have established modifications to the limits of open positions, due to the incorporation of the letters LEDES, LECER and LEPASE as eligible assets of the Futures and Options Contract on Public Securities, according to the following detail of the following Directive.

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The Matba Rofex Membership grants its holder the right to be registered as a Participant and with it the right to arrange, register, settle and / or compensate, on their own and / or third parties, according to the category registered in the National Commission. of Securities, Trades in the negotiation rounds authorized by the Exchange, with the limitations and scope that arise from the Norms of the National Securities Commission, Tradeal and Internal Regulations of Matba Rofex, as well as all other Bylaws that may be applicable.

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The correction of a transaction includes changing the account involved in the negotiation and registration for a different account (hereinafter "the account").
Participants may request the correction of an Trade arranged on the day or the correction of a transaction arranged on an earlier date.

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Dear Brokers:

Matba Rofex has prepared its electronic trading platform in order to allow the use of new computer technologies to facilitate direct market access (DMA- Direct Exchange Access) to the Principal.
In order to achieve this, technological developments have been made so that the electronic trading platform is compatible with the FIX protocol, internationally accepted as an electronic means of Notice in international markets in the development of trading and routing systems for orders.
The incorporation of the possibility of using DMA facilitates the integration between the systems offered by the Exchange and its Brokers and the companies that provide software for electronic trading platforms (ISV - Independent Software Vendors), and at the same time facilitates access to Trades. in the trading systems of connected markets.


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The Brokers are informed that, for cases in which the expiration date of a contract is declared non-working after its listing, its expiration will be the immediately following business day. The Board of Directors and / or Contract Committee, in accordance with the provisions of the Regulations of each contract, may modify the expiration dates set forth herein when market circumstances make it necessary.


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In order to facilitate Trades in those products with less liquidity or large blocks of volume, Matba Rofex offers a new modality called Request For Quote (RFQ) in accordance with article 39, paragraph c) of the Operating and Internal Regulations.

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This Directive regulates the conditions of the Pre-Trading Tradeal Modality. The offers made under this modality are those that were negotiated privately, prior to their entry into the electronic trading system. These offers can only be confirmed by the parties involved in the prior negotiation (buyer and seller), for the total volume entered, and not partially. The Prior Negotiation Tradeal Modality is intended for the execution of offers that require greater management for their agreement, either because their volume is significant or because their conditions or components are particular.

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Assignment is understood to be the definitive allocation in a registration account of the Broker of Trades previously carried out in an account “to be confirmed”. Give-up (or delegation) is understood as the definitive allocation in a registration account of another Broker, of Trades previously carried out with an account “to be confirmed”. Through this functionality, an Broker performs Trades that will later be registered by another Broker. All Brokers are authorized to make give-ups (delegations).

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The Brokers are informed of the procedure they must follow so that the Trades originated in applications carried out in the Exchange are valid.

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This Directive regulates the conditions of the OAC modality, by which an Broker is allowed to execute futures purchase or sale Trades at the day's adjustment price under two schemes.

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Flexible options are purchase (call) or sale (put) options based on the terms and conditions of each underlying asset of the futures contracts listed on MATba ROFEX; in which the parties define the exercise price, the expiration date and the exercise style. These options maintain the Tradeal efficiency of the options listed in regulated markets, the virtual absence of counterparty risk and the discovery of prices in a competitive and transparent market.


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The combined Trade consists of the simultaneous purchase or sale of two or more independent contracts, so for administrative purposes and for the calculation of Fees, each Trade will be considered separately. The simple Trades that make up the combined Trade must be registered for the same principal.

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The Cancellation of Trades can be carried out when requested by one of the parties involved, revealing identity, or ex officio by the Trades Desk.

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The Brokers are made aware of the Matba Rofex Liquidity Incentive Scheme that regulates the figure of Liquidity Provider, and will be governed by the following Directive

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The following is the Negotiation and Clearing Registration Rights scale for financial products:


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Modification of Regulation
The agents are informed that the National Securities Commission through Resolution No. RESFC-2019-20189-APN-DIR # CNV, approved the reform made by the Board of this Exchange to articles 95 and 84 of the Operating and Internal Regulations, the which have been drawn up as follows:


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Delivery of merchandise
The agents are informed that the Board of Directors, in order to simplify the application of Directives No. 498, 499, 501 and Notice No. 218/14, has resolved to subsume them as detailed below:

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Register of Trades under the modality of "Credit Risk Exchange for Futures" (IRCF)

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The Brokers are informed that the Board of Directors, in use of statutory and regulatory powers, has resolved to open as of November 21, 2017 the list of the “Futures Contract of Shares of Grupo Financiero Galicia”.

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The Traders are informed that the Board of Directors has resolved that, from the new Trades that are registered for the position August 2017 and successive, the deliverers that appear in the Offer of Delivery of the SOJA product for secondary Trades; and the recipients that appear there in the case of primary and secondary schools, must be registered in the Bolsatech Information System and verification of the use of technology and varieties of seeds of the Cereal Exchange.


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Traders are informed that the Board of Directors, in use of statutory and regulatory powers, has resolved to open the “3-day Soy Contract” as of next August 30, which will be governed by the following specifications.

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The Traders are informed that the Board of Directors, in order to speed up the administrative burden represented by the preparation of an offer for each contract, established a new procedure according to which the grouping of offers by Trader / client is allowed.

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The Traders are informed that the Board of Directors has resolved to make adjustments to achieve a more efficient administrative order; It is appropriate to modify certain regulatory deadlines, adapting them to current needs. To this end, in use of the power granted in this regard by the Bylaws, the Board of Directors resolved to adopt the following measures that will come into effect as of October 1, 2008

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Extended term Port facilities and private plants
It is brought to the attention of the Traders that the Board of Directors, in use of the power granted in this regard by the Social Regulations, resolved that the extension of the term that governs for deliveries made in Port Facilities "public services", It will also apply to deliveries made to plants and / or private ports.


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The Traders are informed that, with the authorization of the National Securities Commission according to Res. No. 15.656, as of November 5, 2007, the contracts FUTURE DE INDEX DE COMMODITIES ARGENTINOS "ICA MATba" will start trading. and COMMODITIES INDEX FUTURE CONTRACT OPTIONS
ARGENTINOS "ICA MATba", whose Bylaws are attached in the Annex and whose specifications are indicated below. During the first six months from the launch, the tonnage registered in these contracts will not be computed for the calculation of the classification according to the Trader's net worth, likewise, during said period, the registration fee will be subsidized.

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