Description-Electronic Pledge Registry Service (REP)
Through its National Custody line of business, Depósito Central de Valores S.A., (DCV) has developed a service that permits electronic instruction for the registration and redemption of pledges, providing a solution that allows further control, security and efficiency in the registration and redemption of same.
The service permits the performance of the blocking or redemption of securities in national custody account positions, and has been enabled for use through the following platforms:
- Web interface for all Participants and Principals thereof, operating indistinctly as Debtor or Creditor of a pledge with another Participant and Principals thereof, and requires that both Debtor and Creditor register their respective instruction.
- Files interface for all Participants operating exclusively as Creditor of a pledge with their Principals as Debtor, and allows only for the Creditor to register the respective instruction.
The relevant functionalities of the service are:
- Automatic issuance of electronic certificates and reports with Advanced Electronic Signature during the process of registration or redemption of pledges.
- On-line information systems that will allow participants to perform inquiries and obtain reports related to the instructions and pledges.
- Automatic issuance of the daily pledge activity Statement.
- Reports and Certificates deposited in the electronic box.
- Registration of guarantees for the OTC Derivatives Clearing House (ComDer).
- Processing time of the instructions related to the registration or redemption of pledges is less than 5 seconds.
- Allows participants to expedite their business flows.