As previously discussed, EMTA has been working with CME to ensure the continuing integrity of the CME/EMTA ARS Industry Survey Rate, in part by monitoring survey responses against the changing regulatory and market environment in Argentina.

EMTA wishes to remind the marketplace that the Methodology is designed to elicit bid and offer rates that reflect the prevailing free market for wholesale financial contracts relating to Argentine Peso/U.S. Dollar transactions for same day settlement in the Buenos Aires marketplace, and not quotations based upon a Central Bank intervention rate.