As a global provider of financial technology, ViewTrade serves clients in every corner of the world. Our team is composed of globetrotting industry experts who make it a point to visit new prospects and current clients, familiarizing themselves both with the unique workflows and requirements of each firm and the nuances of the local markets they serve, all to help them drive continued innovation. In this series, ViewTrade team members report from the field on their latest travels and key takeaways.
What was the purpose of your recent trip to Argentina?
Due to a historical shift in the new government’s approach since being elected in December 2023, Argentina’s economic outlook looks increasingly promising. The new government has made moves that appear to be market-friendly and the hope is that they will continue to loosen the restrictive regulations that have been in place, allowing Argentinian clients to access international markets more freely.
Can you tell us about ViewTrade’s current activity in Argentina? (current clients, partners, etc.)
We have several customers in Argentina, spanning from the oldest registered broker-dealer in Argentina to one of the largest broker-dealers offering online access to U.S. markets through ViewTrade.
Anything unique or differentiating about Argentina as compared to other LatAm countries?
In the past, Argentina has had stricter regulations and protectionist policies compared to some neighbors, but due to the change in the government of libertarian President Milei, there is optimism that these policies will be revisited and regulations loosened. In the past, this had an impact on product offerings and investment strategies for foreign brokers. A loosening of these prior restrictions could help to open up Argentine capital markets, potentially unlocking pent up demand for access to investments.
How about LatAm in general, what opportunities does the region present? Any unique challenges and, if so, how does ViewTrade help market participants navigate and overcome them?
LatAm offers many opportunities such as a rising generation of young, tech-savvy investors seeking access to sophisticated trading platforms and a wider range of investment products. Also, the rise of mobile phone usage in LatAm creates a demand for mobile trading platforms.
Many local LatAm broker-dealers offer outdated technology that can be upgraded to more advanced offerings to improve efficiency and attract new customers. Offering U.S. equities through advanced, user-friendly technology allows local investors to diversify their portfolios and access potentially higher growth opportunities. LatAm investors often have limited access to U.S. equities directly. U.S. broker-dealers and technology providers can act as a bridge, facilitating investments in the U.S. stock market.
LatAm’s brokerage penetration rate is lower compared to developed markets, creating an opportunity for U.S. broker-dealers to tap into this underserved market. Challenges such as a regulatory landscape that differs from country to country can be cumbersome; however, partnering with local firms allows for a better understanding of the nuances of the specific market.
Any other interesting anecdotes or takeaways from your trip?
Visiting Buenos Aires, Argentina is always a treat. The city has an undeniable European flair which makes it a city unlike any other. Narrow, cobblestone streets lined with brightly painted houses become a vibrant stage for impromptu tango performances. It’s like stepping into a living postcard, capturing the essence of Buenos Aires.
If you’re a meat lover, then Buenos Aires is a place you must visit. I often refer to Buenos Aires as a “Parrilla Paradise”. Imagine yourself seated at a simple table, the waiter expertly carving a juicy “bife ancho” (rib eye) fresh from the grill. Each bite explodes with flavor, accompanied by chimichurri sauce and a glass of Malbec – pure heaven!
There is also a cafe culture. Residents practically live in cafes. When visiting, it is a great way to immerse oneself into the culture.
Finally, what truly captures the essence of Argentina is spending time with the locals. They are fiercely passionate about politics and economics, often showing skepticism towards their politicians and financial system. That passion drives many successful individuals to show resilience and an ability to adapt to ever-changing circumstances and strict regulations, showcasing their spirit of innovation and resourcefulness in navigating a complex financial landscape.
