In the midst of financial tension, they promise continuity in the NVC

Amid strong rumors about new controls on the operations of the stock dollar and the cash dollar in liquidation, the outgoing president of the CNVAdrián Cosentino, and his replacement, currently vice president of the organization, Sebastián Negri met with the main players in the local market, to frame the transfer of control of the market regulator.

Previously, Negri had met with the Minister of Economy, Silvina Batakis. Sources in the organization avoided commenting on that meeting and said they are appointments that occur regularly between officials.

As reported by the CNV in a press release, the spirit of the meeting with the main market leaders was ensure continuity management policies initiated by Cosentino, who submitted his resignation to Minister Batakis and was welcomed last Wednesday.

In this regard Negri affirmed that “this agenda will continue and will continue to be a priority for the CNV” and reiterated the importance of “dialogue with the various players in the sector to think about expanding the capital market and solving the problems that arise” .

The meeting was attended by the president of Bolsas y Mercados Argentinos (ByMA), Ernesto Allaria, and the general manager, Gonzalo Pascual Merlo; the head of the Argentine Stock Exchange (MAV), Alberto Curado, and the general manager, Fernando Luciani; the vice president of MATBA-ROFEX, Marcos A. Hermansson, and the managing director, Diego Fernández; the president of the Electronic Open Market (MAE), Roberto Olson, and the legal advisor, Gabriel Romeo.

The directors Martín Breinlinger and Matías Isasa were also present for the CNV.

In the market they fear new controls in financial dollars, in both cash settlement and MEP dollar transactions. The former has jumped more than 20% so far in July, and as it serves as a benchmark for the market, it also puts the price of the blue dollar under pressure on the street. City traders have indicated that dollarization via Cedears would also be targeted by the new CNV. Argentine certificates of deposit move four times as much as what is traded daily with local stock market shares and are an alternative for those looking to earn dollars.