More than 10 brokerages, including Aurum Valores, RIG Valores, Transacciones Agente de Valores, Quant Capital and Elyca Servicios Globales, soon after that reported losses beyond that equity threshold. Argentina currently has about 280 licenced brokers, more than Brazil, Mexico, Chile or Peru, each with fewer than 100 registered brokers, according to CNV. However, nearly two years into Milei’s administration, capital markets activity hasn’t grown, and competition among brokers is intensifying. CCL volumes plummeted after authorities loosened capital controls for individuals. The easing of capital controls also led Argentines to buy dollars directly from banks, using their brokerage accounts less frequently.