Buenos Aires-based central securities depository (CSD) Caja De Valores has joined Swift, the global network that banks use to transfer billions of dollars every day.

The company, part owned by Argentina’s stock exchange, safekeeps securities for financial market participants in the Latin American country.

It is now executing all its international transactions via Swift. The network is already live with over 200 market infrastructures firms globally across payments, securities and treasury markets.

“This is a critical milestone that will help enhance our global competitive prowess.  This is clear proof of our firm’s steadfast commitment to help further the nation’s capital markets revitalization,” says Alejandro Berney, chief executive officer, Caja de Valores.

“By connecting directly to SWIFT, automating and standardizing our operations, we can better support the growth of our local capital markets and attract foreign investment.”

In July this year, the Argentinian government pledged to help revive the currently fragmented capital markets by supporting the creation of a new exchange B&MA.

The scheme is a tie-up between Buenos Aires Stock Exchange and Merval, the association of Argentine brokers responsible for market operation in Buenos Aires.

It aims to provide Argentina with access to more financial instruments and boost its competitive position in the Latin American region.