The Argentine Securities and Exchange Commission (Comisión Nacional de Valores or CNV) is the body in charge of controlling the Argentine Stock Market System, it has jurisdiction throughout the country and it is related to the National Executive Branch through the Ministry of Economy.
Buenos Aires Stock Exchange (BCBA as per its initials in Spanish), founded in 1854, it is a non-profit association with a self-regulating organization, where almost all the securities transactions conducted in our country take place. The BCBA authorizes and controls the issue of securities under the supervision of the CNV.
Buenos Aires Stock Market (MERVAL), founded in 1929, it is a self-regulating entity under the form of a corporation divided into 183 shares, each of which grants the right to act as a Stock Broker or Brokerage House. At the beginning of 2007, there were 133 signatures of Stock Brokers or Brokerage Houses. The MERVAL negotiates, regulates, guarantees and settles the transactions carried out by their members.
Securities Clearing House, founded in 1974, it is a corporation whose main shareholders are the BCBA and the MERVAL. This is the only depositary of the country, which under the feature of joint deposit exercises the custody of marketable securities, both government and non-government securities.
Law 17811. It regulates the securities market as a whole.
Law 19550. It provides for the rules and regulations to which corporations are subject.
Executive Order 677/01. It includes transparency rules and best practices in the management of corporations for those issuers covered in the public offering regime.
The legality and security regime is supplemented by the provisions contained in the Bylaws, Internal Rules and Regulations and Operating Rules and Regulations, Directives of the Buenos Aires Stock Market (MERVAL) and by the Provisions of the Argentine Securities and Exchange Commission (CNV).
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