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The central bank set a limit for its operations



The savers had entered the capital market completely, tempted to earn 7% in a few minutes. The center restricted the operation and CNV analyzed the issue

As if it were a fashion, no one wants to stay away from the financial loop that these days is causing rage in the city of Buenos Aires. The opportunity to earn 7% in a few minutes to buy a dollar bond and sell the same bond in pesos generated a barrage of new accounts, which collapsed the market's trading system.

However, paying attention to this demand, during the afternoon on Wednesday, met the central bank's board to define a restriction on this type of business.

And the restrictions finally came: The Central Bank issued Notice 6780, requesting, inter alia, "that the client show a statement that the purchased funds will not be used for purchases in the secondary market for securities within five working days from the settlement date of said exchange transaction."

This measure discourages the operation because savers will now risk in the event of a possible price variation. [1

9659005] Thereafter, the Central Bank's regulations should:

It should be noted that after the arrival of the exchange rate, demand for companies and people had increased to make more than $ 10,000, had to increase capital market, buy a bond in pesos and sell it in its dollar version.

The counterpart to that operation was the financial loop, which so far enabled those who could buy green tickets to the market and who, when selling them, ended up with 6% more pesos in their hands.

"We have many account openings, so we had to increase working hours to register so many new accounts," explained Flavia Matsuda of InvertirOnline. "People are asking to open accounts for it, to do the loop," he confirmed.

As explained by stock market analysts (ALYC, as they are currently called), most of the new accounts of retail investors, some even without knowing what the transaction is about, but tempted to make a good difference on a few minutes.

"As it appears in the news portals, more people are adding," he said.

At another well-known city exchange, they explained that yesterday they had orders to open more than 500 new accounts, all trying to take advantage of the financial loop .

"The news was expected to come out in financial media, but it reached the public media and even in some TV channels they explained how they would earn 7% in one day," they commented in the city when explaining it boom generated. [19659014] The figures behind the trend

In the figures this not only resulted in an increase in negotiated volume, but rather to an exponential growth in the number of operations performed, which shows the demand from small savers for titles such as Bonar 24, one of the most used to do this operation.

According to Martín Prus, operator of DMA Brokers, from his Twitter account, in recent days, more than 7,000 operations were performed with Bonar 24, when the average of a few weeks ago did not exceed 1,000 transactions .

In addition, the average amount of the operation is now about $ 2,000, when it was about $ 8,000 before PASO.

It caused the systems to sometimes collapse, which caused some operations could not be specified by BYMA.

"Yesterday (Tuesday), daily record levels were processed for 100,000 operations, with more than 500,000 order events," explained by BYMA where they pointed out that "the trouble was limited and that the rest of the operation was carried out normally ".

In Bull Market Broker, they informed from their Twitter account of the inconvenience of BYMA in receiving orders issued from its platform.

"We are in contact with the BYMA team to resolve the above problem as soon as possible," they wrote.

"Most companies go through the subject of the loop. All inquiries come to that page. All customers call, he went out in all media, then call people, ask what they are and give them advice," Leonardo Svirsky explained , traders in the Bull Market, who added that "there is a great demand for opening accounts."

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