On the second day of the exchanges' operation, users were still encountering long waits, malfunctioning Web pages and messages telling them to try again later, particularly in the 34 states where the marketplaces are being managed by the federal government.
The latter, including foreign-exchange operations, are mired in lawsuits and financial trouble.
In 2011, Cristina Fernández de Kirchner, Macri's predecessor, imposed a cepo, or clamp, on currency-exchange operations in Argentina.
The raids also included searches of storefront cash exchange operations in five states, many with strong links to Somalia.
Mr. Zahner works in Manhattan as an assistant treasurer in foreign exchange operations at Commerzbank, a German commercial bank.
Dozens of off-exchange operations have captured a larger proportion of all stock trades in recent years, but even their overall trading numbers have been trending down.
What is so surprising about the trading losses is that foreign exchange operations are supposed to have effective means of monitoring the activities of their traders.
Thirty-seven million Argentines had to live without money after all banking and foreign exchange operations were suspended to prevent the collapse of the financial system.
The government decree establishing the moratorium on bank and foreign exchange operations was devised with a loophole that allows depositors to withdraw $65 from automated tellers every week.
People bet on contracts stating that a particular event will take place by a given time, and have traded more than $68 million worth of contracts this year through Thursday, according to Carl Wolfenden, exchange operations manager for the Web site.
A13 Argentina Suspends Banking Argentina's economic crisis is expected to worsen after the Argentine government suspended all bank and foreign exchange operations indefinitely and the country's creditors rejected a bailout on President Eduardo Duhalde's terms.
