In the port city, it is revealed that there are market players who are challenging liberalization and generating concern in the government, which usually pays attention to signals from the financial market. Currently, the commissions that the Alycs charge for conducting MEP operations are 0.5% for both buying and selling. Specialists warn that during times of low volatility, competition in the market prevents them from maintaining such high commissions.
A banker highlights that the big business for Alycs currently lies in the closed MEP, where they apply a significant markup. In these cases, commissions can reach up to 1.5%, and in extreme situations, some clients have reported charges of up to 4%. In times of volatility, Alycs make substantial profits, and brokers seek the opportunity to reinvest those funds directly to provide greater liquidity to clients.
Another topic that generates tensions is the blend dollar, which is controversial for officials of the International Monetary Fund. Some companies prefer the closed MEP due to the advantage it gives them regarding the exchange rate, which raises concerns among financial authorities.
Brokers advocate for the elimination of regulations they believe favor the banks' business to the detriment of Alycs. They also criticize Communication A7340, which establishes certain conditions for transfers in dollars, which, in their opinion, benefits banking entities. The possibility of conducting MEP operations directly from banks could harm brokers' business by limiting the available operation options.
With the imminent elimination of the layered capital controls, speculation arises about potential consequences and businesses for some brokers. The lifting of certain restrictions could result in an increase in transaction volume, impacting the stock dollar and requiring intervention from the Central Bank, which could lead to a loss of international reserves. Despite this, it is expected that the liberalization process will advance gradually, according to sources close to the involved financial actors.
Amid these discussions and tensions, Alycs have submitted their requests to the government, which is said to be considering reducing certain regulations in response to market demands. The Central Bank has removed various restrictions in the past, and speculation arises about possible future measures. A concrete resolution is not expected in the short term, as decisions will be evaluated based on the needs of the financial market and indications from various sector actors.
