Circular SINAP 1-149: Principles for Financial Market Infrastructures – Update

“2021 - YEAR OF TRIBUTE TO THE NOBEL PRIZE IN MEDICINE DR. CÉSAR MILSTEIN” COMMUNICATION “A” 7410 25/11/2021 TO FINANCIAL INSTITUTIONS, TO OTHER NON-FINANCIAL CREDIT PROVIDERS, TO ELECTRONIC CLEARING HOUSES, TO COMPANIES ADMINISTERING ATM NETWORKS, TO FINANCIAL MARKET INFRASTRUCTURES: Ref.: Circular SINAP 1-149: Principles for financial market infrastructures. Update. ___________________________________________________________________________ We address you to send you the sheets that, in replacement of those previously provided, should be incorporated into the reference standards based on the update of their point 5.2.1. It is noted that on this Institution's website www.bcra.gob.ar, by accessing “Financial System – LEGAL AND REGULATORY FRAMEWORK – Ordering and summaries – Ordered texts of general regulations”, you will find the modifications made with texts highlighted in special characters (strikethrough and bold). We greet you attentively. CENTRAL BANK OF THE ARGENTINE REPUBLIC Matías A. Gutiérrez Girault Luis A. D’Orio Signature 2 Signature 1 Payment Systems Manager Principal Manager of Payment Systems and Current Accounts Functional Position Functional Position ANNEX

B.C.R.A. PRINCIPLES FOR FINANCIAL MARKET INFRASTRUCTURES
Section 5. List of FMIs

5.1. List

The following FMIs must comply with the application of the principles within the framework of a periodic comprehensive review and taking into account the guidelines established in these standards:

• Electronic Payment Medium (MEP)

• High Value Chamber –INTERBANKING–

• Low Value Chamber –Compensadora Electrónica S.A. (COELSA)–

• ATM Networks –LINK and BANELCO–

• Central Registry and Settlement of Public Debt Instruments (CRYL)

• Caja de Valores S.A. (CVSA)

• Argentina Clearing y Registro S.A. (ACyRSA)

• Mercado Argentino de Valores S.A. (MAV)

5.2. Scope

5.2.1. INTERBANKING, CVSA, ACyRSA and the MAV are authorized to perform the functions of manager of checks generated by electronic means (ECHEQ) and to connect, for those purposes, to the ECHEQ Storage System, administered by COELSA.

5.2.2. The FMIs mentioned in point 5.2.1. are authorized to perform the functions of manager for MiPyME electronic credit invoices (FCEM), by virtue of the provisions of point 3.5.5.2. of the standards on “National Payment System – Checks and other negotiable instruments”.

5.2.3. CVSA is enabled to carry out the custody of ECHEQ and FCEM for their negotiation in markets authorized by the National Securities Commission (CNV).

5.2.4. The FCEM may be transmitted to CVSA and/or ACyRSA for their negotiation when those markets contract tools or computer systems contemplated in article 13 of Law 27440 (its amendments and complementary provisions) and for their negotiation under any authorized modality in which a registered market does not participate, in accordance with the CNV standards (N.T. 2013 and mod).

Version: 2a. COMMUNICATION “A” 7410 Effective:
26/11/2021 Page 1

B.C.R.A. ORIGIN OF THE PROVISIONS CONTAINED IN THE STANDARDS ON “PRINCIPLES FOR FINANCIAL MARKET INFRASTRUCTURES”

ORDERED TEXT			SOURCE STANDARD						OBSERVATIONS
Sect.	Point	Par.	Comm.	Annex	Chap.	Sect.	Point	Par.
1.	1.1.		“A” 5775
	1.2.		“A” 5775
	1.3.		“A” 5775
2.	2.1.		“A” 5775
	2.2.		“A” 5775
	2.2.1.		“A” 5775
	2.2.2.		“A” 5775						S/Com. “A” 7338.
3.	3.1.		“A” 5775
	3.2.		“A” 5775
	3.3.		“A” 5775
4.	4.1.		“A” 5775
	4.2.		“A” 5775
	4.3.		“A” 5775
	4.4.		“A” 5775
	4.5.		“A” 5775
	4.6.		“A” 5775
	4.7.		“A” 5775
	4.8.		“A” 5775
	4.9.		“A” 5775
	4.10.		“A” 5775
	4.11.		“A” 5775
	4.12.		“A” 5775
	4.13.		“A” 5775
	4.14.		“A” 5775
	4.15.		“A” 5775
	4.16.		“A” 5775
	4.17.		“A” 5775
	4.18.		“A” 5775
5.	5.1.		“B” 11056						S/Com. “A” 6904 and 7338.
	5.2.		“A” 6904						S/Com. “A” 7338, 7410 and “B” 12193.