Established in 1974, Caja de Valores, Argentine’s Central Securities Depository, plays a key role in the capital market. It provides secure purchase, sale, clearance, and custody services for the Argentinean market place.
It acts as the IT Operations and Support platform for the Argentine stock market system and provides securities clearing services for the Buenos Aires Stock Exchange. It also manages the Electronic Securities Transfer System, which processes transfer instructions from various participants. Caja de Valores also wanted to reduce its ongoing operational costs, as it saw the attractive economic benefits of a distributed and more modern application platform, as Alejandro Wyss, CIO at Caja de Valores, explains: “One of our main concerns was the cost and the stability of our aging mainframe platform. The business risks in running an unstable environment became too high for us to absorb. Our research showed us that an Intel-based and distributed application architecture would give us the confidence and security we needed as well as the operational cost reductions we were looking for.”