On Feb. 13, ARG CLEAR on required Guarantee Fund contributions.
ARG CLEAR issued Communication 423 regarding contribution to Guarantee Fund II.
Highlights
Informs of requirement to contribute to FGIMC Market Infrastructure Guarantee Fund.
Clearing, Settlement Agent contribution amounts is based on their operation risk level.
Contribution is the greater of ARS 5mn; quarterly average margin balance percentage.
Each agent's contribution to the fund will be recalculated monthly; the required amount will be based on quarterly average margins from the previous three months.
Contribution must be made before an agent is authorized under any listed categories.
Increases after monthly recalculation must be paid in 5-business days of being notified
Effectiveness
Provisions of Communication 423 will become effective beginning on Mar. 1, 2025.
