Caja de Valores S.A
Caja de Valores S.A. is Argentina's sole authorized Central Securities Depository under CNV regulation, providing collective custody, registration, settlement, and payment services for public and private negotiable securities, serving ALyC agents, banks, issuers, insurance companies, mutual funds, SMEs, and retail investors as a 99.96%-owned subsidiary of BYMA.
- Company typePrivate
- Founded1974
- HeadquartersBuenos Aires, Argentina
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Caja de Valores S.A does
Caja de Valores S.A. is the sole authorized Central Securities Depository (Depositaria Central de Valores Negociables) in Argentina, operating under CNV (Comisión Nacional de Valores) oversight pursuant to Law 20.643. Founded in 1974 and headquartered in Buenos Aires with a branch in Rosario, the company provides collective custody, registration, settlement, and payment services for public and private negotiable securities — local and foreign — through its long-running collective deposit (depósito colectivo) model. Its core technology infrastructure is the Nuevo Sistema de Custodia, built on Nasdaq's post-trade automation platform and launched in January 2024, which replaced legacy systems and serves authorized depositantes (banks and ALyC agents), issuers, insurance companies, mutual funds, SGRs, retail investors, and SMEs. The company is 99.96% owned by Bolsas y Mercados Argentinos (BYMA), positioning it as the custody leg of an integrated Argentine capital markets group spanning listing, trading, clearing, custody, and payment.
The product portfolio extends beyond traditional custody into adjacent capital markets infrastructure. The EPYME platform processes electronic SME financing instruments — e-cheqs, electronic credit invoices (FCE), and promissory notes — integrated with COELSA and the banking system, with ~180,000 e-cheqs and 4,000+ promissory notes (ARS 237+ billion) held in custody by December 2021. Additional offerings include the CEDEAR program (certificates representing foreign securities), the Caja de Valores Inversores mobile/web app with RENAPER-based digital onboarding, the GIC custody management platform for institutional sub-accounts, and a securities lending service (Préstamo de Valores) for insurance companies authorized by SSN. In 2021, the company launched a data monetization business (Negocio de Información CVSA) selling credit risk reports on SME instrument payment behavior to SGRs and mutual funds.
Revenue is generated primarily through transaction-based fees on custody, registration, and payment services, supplemented by E-PYME instrument processing fees and the emerging data monetization stream. The firm has pursued a deliberate pricing strategy of cumulative commission reductions exceeding 85% since 2016, including a 25% cut on public title commissions in March 2018 and a 33.3% reduction on acreencias commissions in March 2019. At end-2021, valued custody exceeded 8.9 trillion pesos (up more than 50% YoY), and the company processed more than 150,000 debt restructuring offers totaling USD 41 billion in the 2020 sovereign debt exchange. The operating model is ISO 9001:2015 certified and serves exclusively the Argentine market, with no geographic expansion evidenced.
Caja de Valores S.A firmographics
Firmographics- Name
- Caja de Valores S.A
- Legal name
- Caja de Valores S.A.
- Website
- https://cajadevalores.com.ar
- Company type
- Private
- Founded year
- 1974
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Caja de Valores S.A. is Argentina's sole authorized Central Securities Depository under CNV regulation, providing collective custody, registration, settlement, and payment services for public and private negotiable securities, serving ALyC agents, banks, issuers, insurance companies, mutual funds, SMEs, and retail investors as a 99.96%-owned subsidiary of BYMA.
- Ownership category
- akta.pro rank
Where Caja de Valores S.A is headquartered
LocationHeadquarters
- HQ city
- Buenos Aires
- HQ country
- Argentina
- HQ region
- Latin America
Offices2 records
Markets served
Caja de Valores S.A business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales
Revenue model
- Custody and Deposit Fees: Fees charged for the collective deposit and custody of negotiable securities including public and private instruments. Commission reductions have been implemented over the years, including 25% reduction for public titles in 2018 and 33.3% reduction for acreencias on public titles in 2019.
- Registration and Payment Services: Services as Agent of Custody, Registry, and Payment, including shareholder registry maintenance for issuers and quota-holder registry for open-end mutual funds.
- E-PYME Instrument Processing: Processing fees for electronic SME financing instruments including e-cheqs, electronic invoices (FCE), and promissory notes, processed through the EPYME platform connected to COELSA and the banking system.
- Information Data Monetization: Monetization of historical payment data from SME instruments through agreements with entities modeling payment capacity and credit quality, as well as risk reports for SGRs and mutual funds.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Custody commissions for public titles and private instruments |
Go-to-market motion1 record
Distribution channels6 records
Marketing channels4 records
Caja de Valores S.A product offering
Product offeringCore offering
Caja de Valores S.A. operates as Argentina's sole authorized Central Securities Depository, providing collective custody, registration, settlement, and payment services for public and private negotiable securities under Law 20.643 and CNV oversight. Its offering spans institutional custody management platforms (GIC), digital SME financing instruments via the EPYME platform (e-cheqs, electronic credit invoices, promissory notes), retail investor portals and apps (Caja de Valores Inversores), CEDEAR issuance for foreign securities, securities lending services, and an information business monetizing SME payment data.
Product overview
Caja de Valores S.A. es la única entidad depositaria central de valores negociables de Argentina, operando como Agente Depositario Central y Agente de Custodia, Registro y Pago bajo autorización de la Comisión Nacional de Valores. Su oferta de productos se estructura en torno a un sistema de custodia centralizado que incluye plataformas digitales para inversores (Caja de Valores Inversores, GIC, OFJ), servicios de certificados de valores extranjeros (CEDEAR), y plataformas de financiamiento PyME como EPYME para pagarés, Facturas de Crédito Electrónicas MiPyME, Cheques de Pago Diferido y Pagarés Bursátiles. La empresa también ofrece servicios de préstamo de valores y un negocio de información basado en datos de instrumentos PyME.
Differentiator
Problem solved
Functional benefit
Products and services
- Sistema de Custodia (Custody System) Collective deposit and custody system for public and private negotiable securities (bonds, stocks, commercial papers, CEDEARs) under Law 20.643, serving as the core centralized infrastructure of Argentina's capital markets. Used by ALyC agents, banks, and authorized depositantes for custody, registration, settlement, and payment services.
- Caja de Valores Inversores (App & Web Portal) Web portal and mobile application (Android and iOS) for retail investors with comitente accounts to consult balances, movements, and tenencias of negotiable securities held in custody by Caja de Valores. Enables 100% remote registry procedures, monthly statement downloads, and digital onboarding with RENAPER identity validation.
- GIC - Gestión Integral de Custodia Web platform for authorized depositantes to manage comprehensive custody operations including sub-comitente accounts and co-owners from any location. Used by institutional subscribers for centralized custody management within the Caja de Valores ecosystem.
- OFJ - Portal de Oficios Judiciales Digital portal for judicial authorities to submit and track judicial orders (oficios judiciales) in an agile manner, replacing paper-based processes. Enables remote management of legal requests related to securities held in custody.
- CEDEARs (Certificados de Depósito Argentinos) Argentine Depositary Certificates representing foreign negotiable securities, issued by Caja de Valores as the central depository. Includes CEDEARs of ETFs, enabling Argentine investors to access international securities markets through the local capital markets infrastructure.
- EPYME Platform Electronic platform for SME financing instruments (Factura de Crédito Electrónica MiPyME, Cheques de Pago Diferido, Pagarés Bursátiles) integrated with COELSA and the banking system, enabling PyMEs to access capital markets financing digitally.
- Factura de Crédito Electrónica MiPyME (FCE) Financial instrument allowing PyMEs to negotiate invoices issued against large companies in the capital markets, receiving financing from investors who advance funds against the receivable. Processed through the EPYME platform.
- Cheques de Pago Diferido (CPD/Echeq) Electronic checks (Echeq) with maturity up to 360 days from issuance, which can be discounted in the capital markets. Managed and held in custody through Caja de Valores' infrastructure.
- Pagarés Bursátiles Promissory notes with minimum maturity of 6 months and maximum of 36 months, denominated in pesos or dollars, that can be traded in the capital markets. Processed through the EPYME platform for SME financing.
- Préstamo de Valores (Securities Lending) Service allowing insurance companies to lend negotiable securities from their portfolios (up to 10% of total investments per SSN authorization) to obtain additional yield without adding risk, contributing to market liquidity and settlement certainty.
- Information Business CVSA Information services business monetizing historical payment data from SME instruments through agreements with entities that model payment capacity and credit quality, including risk reports for SGRs (Sociedades de Garantía Recíproca) and mutual funds.
Quantifiable outcome
- Processed over 150,000 offers worth USD 41 billion (98.8% of total debt) during the 2020 debt restructuring and exchange under local legislation
- +4 more outcomes
Companies that use Caja de Valores S.A
Customer profileNamed customers7 records
Segments5 records
Ideal customer profiles4 records
Caja de Valores S.A technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Caja de Valores S.A partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- NasdaqcoreCaja de Valores selected Nasdaq as its technology partner to modernize its post-trade infrastructure. Nasdaq provides its leading automation solutions for the new custody system, which was successfully launched in January 2024. This partnership positions Caja de Valores with cutting-edge technology comparable to major global markets.
- BYMA (Bolsas y Mercados Argentinos)coreBYMA is the owner of Caja de Valores with a 99.96% stake. BYMA serves as the Stock Exchange, Clearing House, and Issuer, while Caja de Valores operates as the Central Securities Depository within the same integrated group. Together they concentrate all steps of the Argentine capital markets industry.
- COELSA (Cámara Electrónica de Compensación de Medios de Pago)coreCOELSA connects Caja de Valores' EPYME platform with the banking system, enabling electronic checks (e-cheqs) issued in banking systems to be discounted in the capital markets. By end of 2021, the EPYME platform was fully connected to COELSA and the banking system for electronic invoice processing.
- CNV (Comisión Nacional de Valores)coreCNV is the regulatory body that authorizes and oversees Caja de Valores as the Central Securities Depository under Law 20.643. Caja de Valores is registered as Agent N°19 under CNV regulations.
- SGRs (Sociedades de Garantía Recíproca)minorMutual guarantee societies that guarantee SME instruments (e-cheqs, promissory notes) entered into the capital markets through Caja de Valores' platform. Caja de Valores provides SGRs with risk information reports on their SME instrument portfolios to support credit decisions.
- IRAMminorIRAM is the Argentine certification body that renewed Caja de Valores' ISO 9001:2015 Quality Management System certification in January 2018, validating the organization's quality processes.
- Local Banking InstitutionminorAgreement signed with a local bank to allow depositantes to deliver physical instruments to bank branches of greater convenience, extending service accessibility beyond Caja de Valores' own physical locations.
Scale indicators6 records
Recent moves8 records
Expansion highlights6 records
Caja de Valores S.A competitors and assessment
Company assessmentOthers
- BYMA (Bolsas y Mercados Argentinos):
- Nasdaq (technology and infrastructure): Nasdaq is Caja de Valores' technology partner, providing the new custody system. While not a CSD operator, Nasdaq's Market Technology platform serves similar CSD and exchange infrastructure clients globally, making it a key technology-side peer.
Broad incumbents
- DTCC (Depository Trust & Clearing Corporation): DTCC operates the largest central securities depository in the US, providing custody, clearing, and settlement for the world's deepest capital markets. It is the most direct global analogue to Caja de Valores in terms of core CSD function, though at vastly greater scale.
- Euroclear: Euroclear is one of the world's largest international CSDs, providing custody and settlement for cross-border securities. It is comparable in core function (collective deposit, settlement, asset servicing) and in operating a regulated monopoly infrastructure.
- Clearstream: Clearstream is a leading European CSD and international central securities depository, part of Deutsche Börse Group. Comparable to Caja de Valores as a post-trade infrastructure provider offering custody, settlement, and asset servicing.
- ASX (Australian Securities Exchange): ASX operates Australia's integrated exchange and CSD, with CHESS for settlement. Comparable to Caja de Valores as a single national infrastructure combining exchange and depository functions in a regulated monopoly framework.
Direct peers
- B3 (Brasil, Bolsa, Balcão): B3 is Brazil's integrated exchange, clearing house, and central securities depository, operating a model very similar to Caja de Valores within BYMA. As the dominant CSD in another major Latin American market, it is the most directly comparable regional peer.
Regional players
- Iberclear: Iberclear is the Spanish central securities depository operated by BME. It serves a similar role within the Spanish capital markets as Caja de Valores does for Argentina, and offers a strong European-market structural analogue.
- Monte Titoli: Monte Titoli is the Italian central securities depository, part of Euronext, providing custody and post-trade services. It is comparable in role and scale to Caja de Valores within its domestic market.
- SIX SIS (SIX Group): SIX SIS is the Swiss CSD, part of the SIX Group, providing securities custody and settlement. Comparable to Caja de Valores as a mid-sized national CSD with strong technology and post-trade capabilities.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
Caja de Valores S.A social profiles
Digital presenceCaja de Valores S.A compliance and trust
Trust signalCompliance1 record
Caja de Valores S.A financial estimates
Financial estimateRevenue estimate
Valuation estimate
Caja de Valores S.A leadership team
Management profileNumber of profiles
Profiles1 record
Caja de Valores S.A funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Caja de Valores S.A M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Caja de Valores S.A
What does Caja de Valores S.A do?
Caja de Valores S.A. operates as Argentina's sole authorized Central Securities Depository, providing collective custody, registration, settlement, and payment services for public and private negotiable securities under Law 20.643 and CNV oversight. Its offering spans institutional custody management platforms (GIC), digital SME financing instruments via the EPYME platform (e-cheqs, electronic credit invoices, promissory notes), retail investor portals and apps (Caja de Valores Inversores), CEDEAR issuance for foreign securities, securities lending services, and an information business monetizing SME payment data.
Is Caja de Valores S.A a public or private company?
Caja de Valores S.A is a private company. It is classified as corporate owned and is currently operating.
When was Caja de Valores S.A founded?
Caja de Valores S.A was founded in 1974. It employs 251 to 500 people.
Where is Caja de Valores S.A based?
Caja de Valores S.A is headquartered in Buenos Aires, Argentina, in the Latin America region.
How does Caja de Valores S.A make money?
Four revenue lines are on record. Custody and Deposit Fees are the primary driver. The others are registration and Payment Services, E-PYME Instrument Processing and information Data Monetization.
Who are Caja de Valores S.A's main competitors?
Others on record are BYMA (Bolsas y Mercados Argentinos) and Nasdaq (technology and infrastructure). Broad incumbents are DTCC (Depository Trust & Clearing Corporation), Euroclear, Clearstream and ASX (Australian Securities Exchange). B3 (Brasil, Bolsa, Balcão) is listed as a direct peer. Regional players are Iberclear, Monte Titoli and SIX SIS (SIX Group).
Does Caja de Valores S.A have an API?
No public API is recorded for Caja de Valores S.A.