The People and Culture Manager refers to the new way of measuring the performance of the Company's collaborators.
Performance management is a key tool to achieve organizational goals and objectives, promoting professional development based on the merit of the collaborators. Depósito Central de Valores (DCV) is modernizing its model to better respond to the needs of the financial market, creating a more effective, transparent, and equal evaluation experience.
The new methodology is an evaluation made by the leader, considering new key experiences for DCV: agility, adaptability, collaboration, accountability, and keeping the client at the center. This will allow recognizing and guiding the teams' organizational abilities to be renewed.
"This way of measuring performance is part of a culture that believes in people and ongoing feedback as a means for development either through reinforcement or redirecting," explains Sandra Valenzuela.
60% of the measurement will correspond to individual goals - which each team member will agree on every year with their management- in line with the objectives of the department and the organization. The remaining 40% will correspond to the measurement of the five corporate abilities that apply to the entire Company.
"As part of the innovation process in the company, we want to encourage our teams to develop these capacities by attaining their individual goals and promote our hallmark as a company," concludes the People and Culture Manager.
The Inclusion and Financial Education Committee (Mesa de Inclusión y Educación Financiera, MIEF) is an initiative that Depósito Central de Valores has promoted since 2020 thanks to collaborative work with all the players in the country's financial industry.
More than 120 journalists and communicators from all over the country gathered in the course's first session for journalists in the financial world. The initiative is led by Centro de Estudios Financieros (CEF), ESE Business School of Universidad de los Andes. It is supported by the Inclusion and Financial Education Committee MIEF), an entity that Depósito Central de Valores (DCV) has promoted since 2020 along with 11 other institutions in the financial world.
This free program which will take place on Fridays until August 11, seeks to educate communicators in economics concepts and improve the quality of information on the financial system. Four sessions will be held to address economic and financial topics of high impact in our country, led by renowned speakers in the area.
Juan Jaime Díaz said that "journalism plays a vital role in communicating and providing information about the financial and economic reality of the country. Today more than ever, we have greater responsibility because misinformation is setting us new challenges."
During his presentation, Sebastián Claro pointed out that the main challenge today for the banking industry is the means of payment. "We must move forward towards modern and flexible means of payment without leaving aside a safe regulation for people. This interconnection is a great challenge, possibly the greatest of the Fintec law in what is currently called open banking."
The course for journalists continues next Friday, July 28, with a second presentation called "The end of zero rates: Is the world in high debt? Who is paying?," in charge of José Luis Daza, Ph.D. in economics at the University of Georgetown, moderated by Javier Jara, Legal and Corporate Affairs Manager of DCV.
How Depósito Central de Valores (DCV) uses Nasdaq Technology to modernize and evolve Chile's capital markets infrastructure for future growth.
Case study: In 2017, the industry's challenges and change drivers made DCV realize that it was necessary to modernize its legacy infrastructure to become more agile and responsive to the fast changes in the financial industry.
Without leaving aside its mission and vision, DCV needed to look into the future and prepare the Company by adopting new business models and implementing the fast transformation of an interconnected and global financial ecosystem in line with the new regulatory requirements.
In 2018, DCV launched the DCV Evolution project to address the challenges and opportunities that impact the CSDs industry at a regional and global level, including capital markets in Chile and the financial industry in Latin America.
Through this critical strategic initiative, a partnership was created with Nasdaq to implement a new post-trade infrastructure, a platform that supports the growth and diversification of the current services of DCV, strengthens daily transactions, and provides the scalability and agility needed for innovation projects.
This partnership is vital to place the Chilean financial market at the forefront of central securities depositories worldwide.
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Depósito Central de Valores, Chile’s Central Securities Depository, Expands Capabilities to Support the Registration, Transfer and Settlement of Digitized Securities
NEW YORK AND Santiago, 29 june, 2023 – Nasdaq (Nasdaq: NDAQ) and Depósito Central de Valores (DCV) today announced an extension of their technology partnership, which will allow DCV to issue and settle digitized securities. Incorporating this service will differentiate DCV as a first mover in the tokenization of assets whilst providing its clients with one platform, based on a consolidated view and single access point across all asset classes.
The technology leverages digital asset capabilities developed by Nasdaq and is fully integrated with its Central Security Depository solution, DCV Evolución. The new service will reduce manual processes, settlement times, and time to market for future enhancements and offerings.
“Market infrastructures are increasingly looking for ways to embrace tokenization, driven by an accelerating global trend towards leveraging existing securities systems and payment rails to service emerging asset classes,” said Roland Chai, Executive Vice President and Head of Marketplace Technology at Nasdaq. “Nasdaq’s technology allows providers to continue serving traditional securities, whilst capturing the many opportunities across digitized assets. The expansion of our partnership with DCV puts them at the forefront of this secular shift.”
DCV will leverage smart contracts to store information related to the underlying security and its ownership, thereby enabling them to automate asset servicing procedures such as managing interest payments or time-consuming legal processes.
“With a solid focus on the client, at DCV we recognize the need to move towards a modern capital market, with access to world-class standards and technology that allows agility and simplicity in the processes without neglecting the security that our business and our clients need. This is the vision that has mobilized us to advance in the DCV Digital project hand in hand with Nasdaq”, said Rodrigo Roblero, CEO at DCV. "We are interested in being a relevant player in the world of tokenizing assets to deliver an applicable service that helps to improve the processes of issuing instruments.”
While DCV will initially launch digitized securities using a central private database, the technology is DLT-enabled to support the issuance, registry and settlement of tokenized assets on distributed ledgers as the broader ecosystem evolves. Nasdaq’s CSD technology is fully interoperable with other depositories and can be readily integrated into existing and future payment networks.
This announcement marks a significant expansion in Nasdaq’s partnership with DCV. Last year, the company replaced its legacy system with Nasdaq’s CSD platform which significantly enhanced the performance, speed, and scalability of its offering, increasing the processing speed of its operations over one hundred times faster. With these improvements, DCV has been able to enhance services across the Chilean financial ecosystem as well as more easily access international investors with standardized operations, messaging, and data infrastructure. For this reason, the company was awarded “Most Innovative Financial Infrastructure Company in Chile” last November.
Nasdaq’s Marketplace Technology business serves as one of the world's largest market infrastructure technology providers, providing multi-asset solutions to more than 130 marketplaces, CCPs, CSDs and regulators in over 50 countries. It offers reliable and scalable technology across the trade lifecycle, helping organizations to drive efficiency, transparency, and liquidity with unparalleled resiliency.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software, and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.
About DCV
Depósito Central de Valores S.A. (DCV) is a corporation established in accordance with Law 18,876 and its regulations, and directives of the Comisión para el Mercado Financiero, (Commission for the Financial Market, CMF). DCV is entitled to receive public offering securities under deposit for transfer between depositors as per this Law. DCV's purpose is to electronically process and register transfer transactions in stock exchange and the over-the-counter market, and coordinate and provide the necessary information for financial settlement of such transactions.
DCV set itself a major goal of evolving Chile’s post-trade market infrastructure to address immediate operational and performance needs, while preparing for future growth and business initiatives. To accomplish this mission, DCV tapped Nasdaq as its technology partner and provider.
Media contacts:
Nasdaq, Andrew Hughes Tel: +44 (0)7443 100896 Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
New York, NY and Santiago, Chile - June 7th, 2023 — Depósito Central de Valores and Citi Securities Services jointly announced today that Citi has been appointed as custodian of international securities for Depósito Central de Valores (DCV), the central securities depositary (CSD) for Chilean securities. The transition of the assets successfully went live on May 26th, broadening the existing relationship between Citi and DCV.
Through Citi’s extensive global network spanning more than 100 markets, DCV will be able to provide its depositors with greater and more timely access to global markets. The expanded relationship will also enable DCV clients and direct participants to take advantage of new services ranging from individual accounts, settlement in FED, operations netting (intermediation), tax (Qualified Intermediary) services and investments in US mutual funds.
Citi continues to be one of the leading Financial Market Infrastructure service providers in Latin America. Over the last seven years, Citi has played a key role in supporting the CSD’s cross- listing programs across major economies including Brazil, Mexico, Chile, Colombia, Peru and El Salvador, helping to drive domestic capital activity and the sourcing of global securities. As a major custody provider in the Americas, Citi has a prominent local presence market in Argentina, Brazil, Colombia, Mexico, Peru and Panama.
In Chile, DCV has become a relevant international custody player in Chile, in addition to its central securities depositary activity for domestic assets, holding in portfolio more than US$ 413 billion.
“Including Citi as part of the infrastructure of our International Custody service will strengthen our network of global custodians, allowing us to better respond to the needs of the domestic market as well as provide additional services to our clients”, said Rodrigo Roblero, DCV General Manager.
“The expansion of our relationship with DCV reflects Citi´s over30-year commitment to the Latin America region and our experience in building solutions to address the needs of the central securities depositaries. As the custodian to the cross-listing programs for the largest central securities depositaries in Latin America for over seven years, we continue to support their efforts to address the increasing sophistication of the local markets,” said Ricardo Hesse, Citi Latin America Head of Securities Services.
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
With around US$26.2 trillion of assets under custody, administration and trust and an industry-leading proprietary network spanning over 60 markets, Citi Securities Services provides clients with extensive on-the ground local market expertise, innovative post-trade technologies, customized data solutions, and a wide range of securities services that can be tailored to meet clients’ needs.
*Banco de Chile operates as a Sub-custodian of Citi in Chile.
About DCV
Depósito Central de Valores S.A. (DCV) is a corporation established in accordance with Law 18,876 and its regulations, and directives of the Comisión para el Mercado Financiero, (Commission for the Financial Market, CMF). DCV is entitled to receive public offering securities under deposit for transfer between depositors as per this Law. DCV's purpose is to electronically process and register transfer transactions in stock exchange and the over-the-counter market, and coordinate and provide the necessary information for financial settlement of such transactions.
Media contact:
Citi, Alexandra Ravinet Tel: 1-305-420-4292 Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
DCV, Carolina Albornoz Tel: +56 9 7 1093248 Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
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