DERIVATIVE FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2022

9. DERIVATIVE FINANCIAL INSTRUMENTS

In the normal course of business, Grupo Supervielle enters into a variety of transactions principally in the foreign exchange stock markets. Most counterparties in the derivative transactions are banks and other financial institutions.

These instruments include:

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Forwards and futures: they are agreements to deliver or take delivery at a specified rate, price or index applied against the underlying asset or financial instrument, at a specific date. Futures are exchange traded at standardized amounts of the underlying asset or financial instrument.

Forwards contracts are OTC agreements and are principally dealt in by Grupo Supervielle in foreign exchange as forward agreements.

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Swaps: they are agreements between two parties with the intention to exchange cash flows and risks at specific date and for a period in the future.

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Options: they confer the right to the buyer, but no obligation, to receive or pay a specific quantity of an asset or financial instrument for a specified price at or before a specified date.

As of December 31, 2022 and 2021, the following amounts were recorded for operations related to derivatives:


	12/31/2022	12/31/2021
Amounts receivable for spot and forward transactions pending settlement	203,748	417,814
Amounts payable for spot and forward transactions pending settlement	58,758	14,350
Put option taken	33,049	—
	295,555	432,164

The following table shows, the notional value of options and outstanding forward and futures contracts as of December 31, 2022 and 2021:


	12/31/2022	12/31/2021
Forward sales of foreign exchange without delivery of underlying assets	13,516,700	7,561,427
Forward purchases of foreign exchange without delivery of underlying assets	4,009,654	3,465,396

The incomes/(expenses) generated by derivative financial instruments during the years ended December 31, 2022, 2021 and 2020 amounted to 663,196, 3,086,983 and 529,541 respectively.