Custody of Securities
The Securities Custody Service is aimed at facilitating securities transactions through Position Accounts, which correspond to an electronic recording system created by DCV according to the highest technological standards for the management of balances and movements of deposited securities. Position accounts may be Proprietary Securities Accounts, Third-Party Securities Accounts, or Expired Securities Accounts. The Securities Custody Service includes the custody itself, the transactions associated with securities held under custody, and the management of such securities.
The transactions available to participants through this service include: sales, free of payment transfers, net sales settlement and gross sales settlement, repurchases, advanced withdrawals, physical and dematerialized deposits, withdrawals, exchanges, and collections associated with securities rights.
Institutions utilizing the Securities Custody Services may offer services on to third parties through the opening of a third-party securities account.
This service is offered though contracts, in the format approved by the Chilean Superintendence of Securities and Insurance.
There is also a diverse range of automatic and on demand reports available for use by Depositors
These reports are sent to the Depositor’s electronic box, and are then available for display or download to the users own environment.
The reports available include the following:
- Account Statements
- Position Certificates
- Maturity Forecasts
- Charge and Payment Distribution
Proprietary Securities accounts are designed for deposit of securities owned by Depositor.
- Securities are managed in fungible and non-fungible mode, depending upon on the instrument
- Depositors may deposit and trade their own securities
- Only non-expired securities positions may be credited
- Securities position credits are only allowed under agreement with issuer or payer
- The beneficiary of the securities rights is the Depositor
- Transactions that may be completed with Proprietary Securities Accounts
Transactions available for participants in accordance with the contracted services are divided into three groups.
Should a Shareholder decide to act through a third party, the Shareholder must submit a notary power of attorney clearly stating the powers conferred to the third party to act on their behalf. These powers of attorney have a limited effective period.
Only securities no longer in circulation may be deposited in these accounts, in case of normal expiration, prepayment, repurchase, etc.
- Only securities in other than fungible form are managed.
- Security position credits are only permitted when the account-associated Depositor is identified as the instrument payer.
- Securities credited into these accounts must be expired.
- Security position credits are only allowed under agreement with payer.
- Deposited securities do not accrue any equity rights.
Access more information
|Name of the document (Spanish only)||Type||Size|
|Ficha - Cuentas de Mandantes Individuales||5,4 mb|
|Manual operacional externo "Custodia y liquidación de títulos representativos de facturas"||760 kb|
|Procedimiento, cambio de RUT para los fondos de las AGF´s||110 kb|