Foreign Exchange Houses and Agencies Will Make Transactions through the SIOPEL System

Institutions licensed to trade in the foreign exchange market must make all their transactions through the SIOPEL system, as decided by the Board of the BCRA.

This measure will enhance control over the transactions made by foreign exchange houses and agencies.

SIOPEL is an electronic trading system developed by the Mercado Abierto Electrónico (MAE), where foreign currency and securities are traded. This system allows trading in all types of instruments.

Most of the institutions licensed to trade in the forex market already use SIOPEL to make transactions. A few foreign exchange houses and agencies previously exempted now have to use SIOPEL as well.

August 24, 2023