More NDF changes could follow Argentine chaos

Lat Am contracts may be tweaked to avoid repeat of contentious peso freeze

The exchange rate divergence language was removed from the Argentina contract in October 2019

Currency derivatives contracts in Latin America could be overhauled as Emta, a New York-based association for emerging markets trading, seeks to head off a repeat of the contract chaos that left Argentina’s non-deliverable forwards (NDFs) market frozen in September 2019 and revealed a split among market participants.

In Argentina, confusion reigned after five Emta members, including Goldman Sachs and Pimco, argued the imposition of capital controls had caused the rate used to settle peso trades

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here