Launch of New BYMA Corporate Governance Listing Segment

On December 18, BYMA’s (Bolsas y Mercados Argentinos) new Corporate Governance Listing Segment was launched, Panel GC and Panel +GC. Over the last two years, Cefeidas Group has worked with BYMA to support them in the design and development of this bespoke corporate governance segment, that takes into consideration both international standards of corporate governance, and current practices in the Argentine market. Cefeidas Group’s expertise and experience in corporate governance was instrumental to the realization of this project.

BYMA wished to be part of this panel to set a leading example to other companies in the market, and since 2016, Cefeidas Group has worked with BYMA to improve their corporate governance practices and align them with the requirements of the panel. The other two companies who inaugurate the panel are YPF and Pampa Energia.

Ernesto Allaria, BYMA’s Chairman of the Board, said that BYMA ‘is committed to good practices of corporate governance, which encourage the sustainable growth of companies and their shareholders [… and that] this launch equips us with pioneering market initiatives in the area [of corporate governance], like Brazil.’ He went on to say that ‘the incentive represents a further step in our objective of evolving the capital markets […] and will enhance the visibility and attractiveness of listed companies for international investors.’ Luis Alvarez, BYMA Board member, remarked that the launch of the new segment is ‘unprecedented in Argentina’, and that BYMA is ‘leading the way in our capital markets’. Both Allaria and Alvarez brought attention to the work of Cefeidas Group in assisting the development of this new segment.

Before the ringing of the bell to mark the launch of the segment, Pampa Energia CEO, Gustavo Mariani, stated that ‘it is an honour to be a founding member of the segment’, whilst YPF Director, Lorena Sanchez, added that through participating in the panel, YPF is ‘reaffirming our commitment to keep working on continuous improvement’.

Santiago Chaher, managing director of Cefeidas Group, highlights that ‘the launch of the panel with such important companies is the initiation of a transformative process in corporate governance in Argentina, where the market understands that good boards, transparency and shareholder protection, are all key elements for healthy, sustainable markets.’ 

The launch event took place in the BYMA offices on the 18th of December.


About Cefeidas Group:

Cefeidas Group is an international advisory firm that focuses on research, assessments and implementation programs in both corporate governance and compliance. Based on our deep understanding of the political and regulatory environment, and corporate governance structures, we deliver objective, multi-disciplined, sophisticated, unbiased, and informed analyses to help our clients develop the best possible strategy to advance their goals. Our assessments and strategic advice help turn uncertainty into calculated risk that can be mitigated through effective strategies, policies and practices. We provide close attention to our clients, delivering concrete, high quality answers to their complex matters in a concise and timely manner.

We offer efficient and effective advisory services to family owned companies, corporations, financial institutions, state owned enterprises and governments from our offices in Argentina to the Latin America & Caribbean region. For more information, please follow the link.

About BYMA:

‘BYMA is the evolution of the Capital Market in Argentina. It combines liquidity, knowledge and expertise to face the challenges and demands of the actual world, turning investments into job opportunities and development for the country. BYMA was created pursuant to Argentine Capital Market Law No. 26831 with the purpose of continuing Buenos Aires Securities Market (MERVAL) businesses and as the main controller entity to Caja de Valores by holding 99,96% interest on said company.

‘BYMA offers the cutting-edge technological Trading Platform – Millennium – together with quality and security Standards applied in the main Markets around the world, so as to provide organizations, companies and the general public safe and transparent access to the investment world.’ For more information, please follow the link.