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Overview

ChuchoBot calculates profit and loss (P&L) for arbitrage opportunities based on configured commissions and market rights. Accurate configuration is essential for realistic P&L estimates.

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Commission Types

ChuchoBot handles three types of fees:
  1. Trading Commission - Broker commission per trade
  2. Market Rights - BYMA fees (varies by instrument type)
  3. Caución Commissions - Fees for borrowing/lending operations

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Trading Commission

The general trading commission can be configured in the Arbitrage Scanner window.
1

Open Arbitrage Scanner

Launch the arbitrage scanner from the main menu.
2

Locate Commission Field

Find the commission percentage field (default: 0.10%)
3

Enter Your Broker's Commission

Update with the actual commission rate your broker charges.
The default commission is set to 0.10% per operation. This may vary significantly depending on your broker and account type.

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Market Rights (Derechos de Mercado)

BYMA (Bolsas y Mercados Argentinos) charges different market rights depending on the instrument type. ChuchoBot automatically applies the correct rate based on the instrument.

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Market Rights Rates

Applied to instruments listed in the AccionesCEDEARs setting.Examples: AAPL, MSFT, GOOGL, GGAL, YPFD, MELI, etc.
<setting name="DerechoMercadoAccionCEDEAR" serializeAs="String">
  <value>0.08</value>
</setting>
Applied to instruments listed in the Letras setting.Examples: S01L4, S14J4, S26L4, S30G4, etc.
<setting name="DerechoMercadoLetra" serializeAs="String">
  <value>0.001</value>
</setting>
Applied to all other instruments not in the above categories.Examples: AL30, GD30, AL35, GD35, etc.
<setting name="DerechoMercado" serializeAs="String">
  <value>0.01</value>
</setting>

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Configuring Market Rights

Market rights are configured in the ChuchoBot.exe.config file: 
<applicationSettings>
  <Primary.WinFormsApp.Properties.Settings>
    <!-- Bonds (default) -->
    <setting name="DerechoMercado" serializeAs="String">
      <value>0.01</value>
    </setting>
    
    <!-- Stocks and CEDEARs -->
    <setting name="DerechoMercadoAccionCEDEAR" serializeAs="String">
      <value>0.08</value>
    </setting>
    
    <!-- Treasury Bills -->
    <setting name="DerechoMercadoLetra" serializeAs="String">
      <value>0.001</value>
    </setting>
  </Primary.WinFormsApp.Properties.Settings>
</applicationSettings>
Official BYMA market rights documentation: BYMA Market Rights PDF

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Caución Commissions

Caución operations (repo/reverse repo) have specific commission rates that must be configured for accurate arbitrage calculations.

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Configuration in Arbitrage Scanner

These values are configured in the arbitrage scanner window:
  • Comisión Tomadora (TNA) - Annual rate for borrowing (taking) caución
  • Comisión Colocadora (TNA) - Annual rate for lending (placing) caución
1

Open Arbitrage Scanner

Navigate to Arbitrajes de Plazos in the main menu.
2

Locate Caución Fields

Find the caución commission fields in the scanner window.
3

Enter TNA Rates

  • Comisión Tomadora (TNA): Enter your broker’s rate (default: 4%)
  • Comisión Colocadora (TNA): Enter your broker’s rate (default: 1.5%)

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Default Caución Rates

In the config file: 
<userSettings>
  <Primary.WinFormsApp.Properties.Settings>
    <setting name="ArancelCaucionTomadora" serializeAs="String">
      <value>4</value>
    </setting>
    <setting name="ArancelCaucionColocadora" serializeAs="String">
      <value>1.5</value>
    </setting>
  </Primary.WinFormsApp.Properties.Settings>
</userSettings>
The default caución commission values are arbitrary. You MUST configure these with your broker’s actual rates for accurate P&L calculations.

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Per-Instrument Configuration

Some instruments require special handling. ChuchoBot pre-configures hundreds of instruments in specific categories.

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Adding Instruments to Categories

Edit the AccionesCEDEARs setting in ChuchoBot.exe.config:
<setting name="AccionesCEDEARs" serializeAs="Xml">
  <value>
    <ArrayOfString xmlns:xsd="http://www.w3.org/2001/XMLSchema" 
                   xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
      <string>AAPL</string>
      <string>MSFT</string>
      <!-- Add your instrument -->
      <string>NEWINST</string>
    </ArrayOfString>
  </value>
</setting>
Edit the Letras setting:
<setting name="Letras" serializeAs="Xml">
  <value>
    <ArrayOfString xmlns:xsd="http://www.w3.org/2001/XMLSchema" 
                   xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
      <string>S01L4</string>
      <string>S30G4</string>
      <!-- Add your letra -->
    </ArrayOfString>
  </value>
</setting>

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Verifying P&L Accuracy

After configuring commissions:
  1. Open an arbitrage detail window (double-click any opportunity)
  2. Compare calculated P&L with your manual calculations
  3. Verify that all fees are being applied correctly
  4. Adjust commission rates if needed
Arbitrage Detail

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Complete Example Configuration

<?xml version="1.0" encoding="utf-8"?>
<configuration>
  <userSettings>
    <Primary.WinFormsApp.Properties.Settings>
      <!-- Trading Commission -->
      <setting name="Comision" serializeAs="String">
        <value>0.10</value>
      </setting>
      
      <!-- Caución Commissions (TNA) -->
      <setting name="ArancelCaucionTomadora" serializeAs="String">
        <value>4</value>
      </setting>
      <setting name="ArancelCaucionColocadora" serializeAs="String">
        <value>1.5</value>
      </setting>
    </Primary.WinFormsApp.Properties.Settings>
  </userSettings>
  
  <applicationSettings>
    <Primary.WinFormsApp.Properties.Settings>
      <!-- Market Rights -->
      <setting name="DerechoMercado" serializeAs="String">
        <value>0.01</value>
      </setting>
      <setting name="DerechoMercadoAccionCEDEAR" serializeAs="String">
        <value>0.08</value>
      </setting>
      <setting name="DerechoMercadoLetra" serializeAs="String">
        <value>0.001</value>
      </setting>
    </Primary.WinFormsApp.Properties.Settings>
  </applicationSettings>
</configuration>
Always restart ChuchoBot after modifying the config file for changes to take effect.

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