Bloomberg Holds First Foreign Exchange Summit in Argentina

Buenos Aires financial community discusses the country's economic outlook

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Dec 15, 2016, 10:26 ET

BUENOS AIRES, Dec. 15, 2016 /PRNewswire/ -- Argentine corporations seek to improve operational efficiency in their treasury operations, financial executives in Buenos Aires said at Bloomberg's first Foreign Exchange Summit there.

Bloomberg invited corporate executives to discuss the role that Argentina plays in the markets now, as well as the challenges and opportunities available to it in a panel discussion, "The myths and realities of the financial opening in Argentina".

"Argentina has tremendous potential," said Tod Van Name, Bloomberg's Head of Global FX and Commodities electronic trading. "Investors around the world are taking a hard look at recent changes and are interested in knowing much more about future opportunities."

International investors need to come to the local market to perceive the depth and bridge the gap, benefitting companies that need investments for USD30 million to USD150 million, said Horacio Aguilar, the Regional Managing Director of Puente Investment Banking, one of the speakers at the Bloomberg summit.

To attract investors, Argentina needs to focus on openness, liquidity, regulation and risk management (through derivatives), said Alberto Estrada, the CEO of Mercado Abierto Electrónico (MAE, Open Electronic Market). Regulators are looking for the country to foster the capital market by modifying its legal framework to provide more possibilities, he added.

Corporate plans to start or expand energy, farming and infrastructure industries are very interesting, said Douglas Elespe, the CEO of FIX (affiliate of Fitch Ratings). He added that other countries in similar positions to Argentina have taken five years to get investment grade status.

"Bloomberg is in a perfect position to help Argentinian corporations and asset managers create the tools they need to satisfy the market and regulators," said Geraldo Coelho, Bloomberg's head of sales for South America.

The event held Tuesday by Bloomberg's Foreign Exchange business. Bloomberg helps currency professionals control exposure and risk while taking advantage of market opportunities. The platform provides market data, news, analytics and trading tools on currencies and derivatives via Bloomberg's professional service -the Terminal-, used by the world's leading asset managers, pension funds, corporate treasuries, government agencies, and regional and global banks.
(Please note: The opinions of the speakers are their own and do not necessarily represent their company's position.)

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SOURCE Bloomberg