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 News

29/01/2018 0:00 - Business
FEDERICO DIYENNO
Deferred payment checks: volume traded rise up 23% in 2017.

Deferred payment checks (DPC) trading volume increased almost 23 percent in 2017 measured in pesos and 2.6 percent measured in units. DPC holds better yields than other fixed rate investments with the same risk and maturity. This yields were correlated with the reference rates of the monetary market in Argentina throughout 2017 with the same maturity.

Deferred payment checks (DPC), at MAV (Argentine Securities Market, by its Spanish acronym) increased in the last year measured in pesos and in checks units. Total traded amount in pesos increased 23 percent while measured in check units it increased 2.6 % accounting all segments. The biggest rise was at the direct segment, where based on MAV’s data ARS $ 1.417 billion were traded increasing 25 percent annually.

In the whole segments, based on MAV’s data, total traded DPC amount increased 22.69 percent to ARS $ 19.019 billion in 2017 from ARS $ 15.501 billion in 2016. Amount of payments checks also rise 2,6 % percent to 128,638 units in 2017 respect to 2016.

At the unguaranteed segment the increase was also very important reaching ARS $ 1.187 billion in 2017, with a 21 percent annually rise in 2017. At the second half of 2017 the increasing pace improved to 200 percent compared with same period of 2016.

 

The average DPC rates at MAV were correlated with the other reference rates at the argentine monetary market with the same maturity. In detail, the longest maturity rates exhibited the biggest increases throughout the year.

For example, the average endorsed check rates increased 470 basis points to 29.4 percent in December 2017 from 24.7 percent in December 2016. The dollar debentures, with a longer maturity, increased 121 basis points to 8.30 percent in December 2017.

 

At the end of 2017, the DPC traded other than the endorsed ones increased significantly. In November and December of 2017, the endorsed trading share decreased to 88 percent of the total explained by an increase in the DPC volume at the unguaranteed and warrant guaranteed segments.

On the other hand, the guaranteed traded rates throughout 2017 were bigger than other reference rates at the monetary market. The guaranteed traded checks yield 32.7 percent with a maturity of less than 60 days at December 2017. This rates are better than the Argentine Central Bank Bills that yielded 28.5 in the same period. The guaranteed segment in the MAV counts with AA + rating that according to MAV authorities, ‘this shows the solvency of the instrument and the quality of the organization and management of the Argentine Securities Market’.

 
 

 Institutional video


Institutional Video of the Bolsa de Comercio of Rosario (Rosario Board of Trade)

 Rosario Board of Trade

The Rosario Board of Trade is a centennial institution located in Rosario, in the most important agroindustrial zone of Argentina. Throughout its history it has created and boosted transparent, solid and reliable markets: the Grains Physical Market, the Futures Market, the Capital Market, and the Livestock Market.

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Bolsa de Comercio de Rosario Córdoba 1402 - S2000AWV
TE: (54 341) 5258300 / 4102600
Rosario - Santa Fe - Argentina

Oficina Buenos Aires Reconquista 458 piso 7° - C1003ABJ - Cdad. de Buenos Aires.
Tel: (54 - 011) 43280390/1484 43939391/9649- Fax: (54 - 011) 43939649
contacto@bcr.com.ar