Bloomberg Electronic Money Market Fund Trading Goes Live In Argentina

BUENOS AIRES and NEW YORK, Sept. 18, 2018 /PRNewswire/ -- Bloomberg today announced that its electronic trading platform for money market fund investments in Argentina is now live.  Banco Santander and Banco Galicia are the first to use the system, which is designed for corporate treasurers, hedge funds, banks and brokers in the country.

Money market funds are popular in Argentina since they provide better tax benefits for some versus trading short term bonds directly. The new Bloomberg electronic trading platform on the Bloomberg Terminal at {MMF<GO>} provides a single system to invest and provides a simple way of checking available funds with their performance and net asset value (NAV). It replaces the manual process of using multiple systems, emails and phone calls for each fund.

The first companies to use the new platform are Banco Santander and Banco Galicia.

Diego Bianco, Corporate & Investment Banking Executive Director from Banco Santander said, "the new Bloomberg money market system for Argentina adds a new channel to operate funds, allowing us to provide a better service to our corporate clients and make our transactions more efficiently."

Manuel Rocha, Head of Corporate Sales at Banco Galicia added, "the Bloomberg Argentina MMF has made us so much more efficient. We can see the blotter in real-time and it automatically shares our trades with our back-office department. It's a great one-stop system."

Geraldo Coelho, head of Bloomberg's South American sales, said, "Banco Santander and Banco Galicia should be congratulated for their leadership in starting to trade money market funds electronically in Argentina. This new technology is yet another sign of our ongoing investments to modernize financial market in Argentina and connect them with the region and the world."

About Bloomberg 
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About Banco Galicia
Founded in 1905, Banco Galicia is one of the top private banks of national capitals of the financial system of Argentina. Through its traditional and alternative distribution channels, it markets a wide range of financial products and services for people and companies. Banco Galicia operates one of the most extensive and diversified distribution networks in the Argentine private financial sector, offering points of contact with its customers through bank branches, electronic banking centers and the Banca Empresa centers. Its customers also have access to phone banking services and digital service channels such as Online Banking and Mobile.

About Banco Santander Río
Santander Río is the first private bank of the Argentine financial system in savings (deposits plus common funds) and in volume of credit. The entity has 482 branches, more than 3.5 million clients (among them more than 260,000 SMEs and 1,300 corporate companies) and has presence in 22 provinces and in the Autonomous City of Buenos Aires. It's one of the leading banks in terms of payment, foreign trade, transaction services and cash management. Also, is one of the main players in the stock markets, public securities and foreign exchange.

SOURCE Bloomberg

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