Rosario Stock Exchange

The Rosario Stock Exchange is a civil association founded in 1884 in the city of the same name, province of Santa Fe, Argentine Republic. Its objective is to promote product, capital and other asset markets. It is under the supervision of the National Securities Commission.

History

The Rosario Stock Exchange was founded on August 18, 1884, as a non-profit civil association, a legal form that it retains today. It began its activity by offering its facilities for the development of concentration markets that would favor the confrontation of supply and demand for products in general and enable greater transparency in prices.

When the Stock Exchange was founded, the trade in agricultural products was already organized in the Argentine Republic, which is why the concentration of the institution's purchase and sale operations occurred gradually. In this sense, it is worth noting that in 1878 the first organized export of cereals from Argentina took place; It consisted of a sale of wheat to Glasgow (Scotland, United Kingdom) that was shipped precisely in Rosario.

In 1893 the creation of a "Grain Arbitration Commission" within the Stock Exchange, which in 1899 was renamed 'Arbitration Chamber', to which extensive functions were assigned in terms of the formation of negotiation standards, drafting of purchase and sale tickets, fixing current daily prices and, fundamentally, acting as "friendly composer" to resolve commercial issues that may arise. Despite everything, the operating system did not require then and until some years later the existence of an organization for the liquidation and guarantee of businesses.

Markets that comprise it

5 markets are part of this institution:

• Physical Market of Granos de Rosario
• ROSGAN (Mercado Ganadero de Rosario S.A.)
• MATBA-ROFEX (Ex - Rosario S.A. Term Market)
• MAV (Argentine Securities Market S.A.)
• ROSPORC (Porcino Digital Market)

Rosario Physical Grain Market

The traditional Physical Grain Market of the Stock Exchange is the most important in Argentina in terms of volume of operations, and its prices are a mandatory national and international reference. 80% of Argentine production of cereals and oilseeds is marketed there, through a large number of operators in the traditional daily round.

Soybeans are the main product traded in this market and made Rosario the most powerful center for the physical marketing of this oilseed worldwide. More than 80% of the installed capacity of the Argentine oil industry is located in its area of influence and the same occurs with private port terminals, which ship more than 90% of exports of soybeans and their derivatives.

The supply of merchandise is carried out by grain brokerage firms and 2nd Grade cooperatives, and the demand comes from exporters, oil manufacturers and flour mills. Businesses are agreed verbally, without prejudice to the subsequent registration of tickets on the Stock Exchange.

From such operations arise the so-called 'Chamber Prices', set daily by the Cereal Arbitration Chamber through a commission made up of all the sectors that act in this Market. These prices are indicative in nature and non-obligatory use, unless agreed by the parties.

The Chamber acts as an arbitral tribunal of recognized suitability and impartiality for the resolution of conflicts between parties. The causes that have been submitted for consideration for more than a century are resolved quickly and economically.

With similar functions, in matters relating to vegetable oils and by-products of the manufacture of oils, the Arbitration Chamber of Vegetable Oils and By-products understands.

ROSGAN (Rosario Livestock Market)

This livestock market is the result of the union of different actors in the livestock marketing system, who, through the use of modern communication technologies, bring supply and demand together in a timely manner. The use of the televised system with remote farm auctions makes it possible to unite, with a federal criterion, the productions of the interior with the demands of the large urban centers and exports.

To achieve a successful auction system without the physical presence of the merchandise, it was imperative to have tools that gave certainty and precise information to the operators. For these reasons, procedural manuals were implemented to ensure correct filming and certification of the lots to be auctioned. This task is carried out by the certified certifiers authorized in the respective agricultural establishments.

Once the information on all the lots that will be auctioned is available, the Sales Order is assembled, which is published in a catalog and on the Mercado Ganadero SA website. In this way, images and details of the troops put up for auction are made available to potential buyers well in advance.

The auction is broadcast live by the Mercado Ganadero SA within the scope of the Rosario Stock Exchange. Buyers can make their offers either in person or by telephone using a call center system. In order to participate in the auction, buyers must previously register in the Single Registry of Participants maintained by Mercado Ganadero SA.

The auctions that take place within the Mercado Ganadero S.A. They are broadcast live throughout the country on television through Canal Rural. In this way, livestock shippers achieve a commercial breadth hitherto unknown, and buyers have the ease of carrying out transactions without the need for transfer.

MATBA - ROFEX (Ex - Mercado a Término de Rosario S.A.)

ROFEX S.A., whose name is the acronym for Rosario Futures Exchange, is the largest futures market in Argentina. It was founded in 1909 under the name "Mercado General de Productos Nacionales del Rosario de Santa Fe S.A." and later called Mercado a Término de Rosario S.A.

It has 2 operating divisions:

Agricultural Derivatives Division: Negotiates futures contracts and options on Soybeans, Wheat and Corn

Financial Derivatives Division: Negotiates futures contracts and options on the Dollar, Gold, Oil, Argentine Bonds, Merval Index Future and LEBAC Future.

Due to the volume traded, especially in Dollar contracts, ROFEX is today the most important futures market in the country.

It is the only futures market in South America that registers, clears, settles and guarantees its contracts through a futures and options clearing house, Argentina Clearing SA, the first and only futures and options clearing house in Argentina, authorized to operate by the National Securities Commission of the Argentine Republic and has one of the highest credit ratings in the country (Standard & Poor's rAA), putting it at the same level as the most recognized clearinghouses in the world.

In 2019, the merger between the two century-old futures markets in Argentina, ROFEX S.A., took place. as a spin-off company and Mercado a Término de Buenos Aires S.A. (Matba) as the absorbing company, the new absorbing company being called Matba-Rofex S.A. This integration allowed the market to grow, both in its volume and liquidity, offering greater efficiency, better technology and the quality of agricultural and financial products.

MAV (Mercado Argentino de Valores S.A.)

The Argentine Stock Market, or MAV, was born from the integration and merger between the stock markets of Rosario and Mendoza.

Its predecessor Rosario Stock Market was founded in 1927 with the name “Mercado de Titles y Cambios del Rosario”. The Rosario Stock Market traded securities, mostly bonds and stocks.

Currently the MAV specializes in the negotiation of deferred payment checks and financial trusts.

It registers, clears and settles daily the operations arranged by its agents and guarantees compliance with the obligations assumed.

ROSPORC (Digital Pork Market)

The Digital Pork Market, or ROSPORC, was born from an internal development of the institution, launched in 2020.

Rosporc is the first electronic trading platform for pigs in Argentina. A completely digital market that allows users to carry out purchase and/or sale transactions on pigs with complete ease.

It is a platform that streamlines operations, which offers new opportunities to producers and greater predictability to a poorly institutionalized industry. It allows a negotiation space to form reference values for each type of operation.

Directorate of Information and Economic Studies

Artículo principal: Dirección de Información y Estudios Económicos

The Rosario Stock Exchange actively promotes economic research through its Directorate of Information and Economic Studies (DIyEE). In charge of this is the publication of reports referring to grain trading, derivatives markets and economic issues in general. Likewise, economic statistics, reports and studies on the Central Region are published, in addition to discussing issues related to the national and international economy. Within the Directorate, academic research is also published.

Among these multiple tasks is the editing and publication of the Weekly News. Its history dates back to May 7, 1982, when by decision of the then president of the Rosario Stock Exchange, Mr. José A. Zambruni, and the support of an Advisory Commission, made up of Messrs. Hugo H. Borgia, Vicente Listro, Adolfo Oyenard and Jorge R. Quaranta, the first issue of the Weekly News came to light. On October 19, 1987, at the request of Cont. Cabanellas, the Executive Board of the Rosario Stock Exchange decided that the position of Director of the Weekly News would henceforth be held by the then Director of Information and Economic Studies, Cont. Rogelio Pontón. Since 2013, the Directorate has been headed by Dr. Julio Calzada. Incorporating statistics, markets and topics of various kinds over the years, starting in June 2021, a large part of the Weekly News and many DIyEE reports can be accessed in a special section in English.

With almost forty uninterrupted years of publication, Informativo Semanal published its 2000th Edition in 2021.

In September 2020, two monthly reports began to be published: the Market Panorama Report, specialized in agricultural, capital and futures markets. and the Macroeconomic Situation Report, with topics on monetary, exchange and fiscal policy, economic activity and agro-industrial foreign trade.

Participating Entities

• Argentina Clearing S.A.
• Internal Security Officers of the Argentine Republic - ADIRA
• Harbour and Maritime Activities Chamber
• Rosario Bag Agents Chamber
• Rosario Exporter Chamber
• Molineros Industrial Chamber
• Chamber of the Argentine Republic Oil Industry - CIARA and Center of Cereal Exporters - CEC
• Chamber of Commercial Private Ports
• Centro de Corredores de Cereales de Rosario
• Centro de Semilleristas de Rosario
• Argentina Rural Confederations
• Rosario Administrator Sociedad Fiduciaria S.A.
• Sociedad de Acopiadores de Granos de la Provincia de Córdoba
• Sociedad de Cerealistas del Norte de la Provincia de Buenos Aires
• Sociedad Gremial de Acopiadores de Granos
• Sociedad Rural Argentina