New international custody service operations guide
Valid
Yes
DEPÓSITO CENTRAL DE VALORES S.A., DEPÓSITO DE VALORES
Dear Participants,
The Depósito Central de Valores (DCV), in accordance with the provisions of Section 16.1.1 of the current Internal Regulations, informs its depositors regarding the new version of the International Custody Operations Guide.
In its November version of 2019, the guide incorporates the following changes:
In the custody and settlement service of foreign fund quotas through the Euroclear-Fundsettle infrastructure, rules for sending cash (through the submittal process) in relation to the subscription of quotas are specified.
Specific rules for handling cash in closed operations in EUR currency to be settled in EUROCLEAR are provided.
Download service operations guide international custody
Settlement of purchase and sale transactions executed with the Central Bank of Chile
Valid
Yes
DEPÓSITO CENTRAL DE VALORES S.A., DEPÓSITO DE VALORES
Dear Participants,
In accordance with Circular Letter No. 625 and the Press Release, both of the Central Bank of Chile (BCCH), dated November 14th, 2019, DCV informs its Depositors of the start of the settlement of operations method through the LBTR System, and its adherence to the rules of the Issuing Institute to act as a “Third Party” in the settlement of the aforementioned operations. This will allow the synchronization of the transfer of securities with the transfer of funds between the BCCH and its counterparties.
This role will be limited to operations in which the BCCH participates as a purchaser of the securities issued by it.
For the purpose of fulfilling this role, DCV must have an authorization from the respective seller of securities (of its own issuance) regarding which the BCCH acquires in accordance with its regulations. This authorization must expressly authorize the latter to send transfer instructions (of the respective debt instruments) to DCV (which will act on behalf of the Depositor). Therefore, allowing the settlement of the aforementioned purchase transactions, which currently correspond to the special mandate called “Special mandate to act before the Central Bank of Chile in purchase transactions regarding instruments of its issuance”, included in this circular.
We briefly describe the new process:
Once the purchase of securities issued by the BCCH has been awarded in accordance with its regulations, the Issuing Institute instructs DCV to charge the securities depository account of the respective awarding depositing institution, prior payment (in a gross amount) of the relevant transaction. For this purpose, the implementation by the Issuing Institute of a “settlement account 2” in the LBTR System is contemplated.
It is important to note that DCV will in no case have the power to send instructions for transferring funds in the LBTR System on its own behalf, nor will it carry out clearing and settlement of operations, but will limit itself to remitting, as the representative of the BCCH for these purposes, certain funds transfer instructions (ITF), when acting on behalf of the Central Bank.
Download service operations guide international custody
Special mandate to act before the Central Bank of Chile regarding debt instruments of its own issuance.
New Report on Essential Facts Regarding MVE Instruments
Valid
Yes
DEPÓSITO CENTRAL DE VALORES S.A., DEPÓSITO DE VALORES
Dear Participants,
The Depósito Central de Valores S.A., Depósito de Valores (DCV) in accordance with the provisions of Title 15 of the current Internal Regulations, announces the incorporation of a new Statistical Report that may be acquired by Depositors.
This new report, entitled Report on Essential Facts Regarding Instruments of the Foreign Securities Market (MVE), will contain information for each corporate event. Thus, it will refer to the securities issued abroad that are registered in the Commission’s Registry of Foreign Securities (CMF). The registration of these instruments in the respective registry allows their quotation in the stock exchanges where they will be registered.
This report will be issued for each essential detail event announced regarding each instrument (1 to 1 relation). Thus, being available to the participants in their emails (that were previously informed).
The cost for the monthly subscription of this Report will depend on the number of instruments from which the respective information is requested, which will be as follows:
From 1 to 50 ISIN Informed Codes
Fixed monthly cost will be of 5 UF
From 51 to 100 ISIN Informed Codes
Fixed monthly cost will be of 10 UF
From 101 to 150 ISIN Informed Codes
Fixed monthly cost will be of 15 UF
From 151 to 200 ISIN Informed Codes
Fixed monthly cost will be of 20 UF
Over 201 ISIN Informed Codes
The fixed monthly cost will be 25 UF and an increase of 10 UF will be applied for every 100 new codes.
Depositors who wish to acquire it must do so it in writing through the Subscription Form/cancellation of the statistical report available on the website (www.dcv.cl).
DEPÓSITO CENTRAL DE VALORES S.A., DEPÓSITO DE VALORES
Dear Participants,
The Depósito Central de Valores (DCV) communicates that the current CUSTODY SERVICE OF SOCIAL SECURITY SYSTEM CONTRIBUTION CERTIFICATES OF PENSION FUND ACTIVE MEMBERS (BRAA), will be modified by incorporating a fee associated with the BRAA issued by the IPS that are deposited in AFPs inventory accounts, or transferred between AFP and IPS accounts.
BRAA issued by the IPS
0.04 UF
The balance of the fees associated with the service are published in the Internal Regulation currently in force.
This fee will begin being charged after 30 calendar days of this date, under the terms and conditions established in the Internal Regulations.
For more information, please contact the Customer Service Desk MAC
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Best regards,
DEPÓSITO CENTRAL DE VALORES S.A., DEPÓSITO DE VALORES
Changes to the BVE Custody Service for LQD and HYG
Valid
No
DEPÓSITO CENTRAL DE VALORES S.A., DEPÓSITO DE VALORES
Dear Participants,
In relation to the Foreign Securities Exchange Service and the information contained in CircularsN°. 320 and N°. 321, we inform that in order to maintain the potential tax benefits of the LQD (ISIN US4642872422) and HYG (ISIN US4642885135) instruments, DCV will maintain their custody in Euroclear Bank S.A./N.V., as of June 21st, 2019. Therefore, we request all Participants that for transactions related to these instruments and that have a settlement date as of June day 24th, 2019, are instructed in the Electronic FROI according to what is indicated in the following.
Service
Foreign Securities Exchange (same service is maintained)
Custody
Euroclear - BVE
The rest of the instruction details remain unchanged.
Funds for purchase operation
The funds (USD) for the settlement of the purchase operations for these instruments must be sent to the same DCV account (currently sent to Citibank NY).
New settlement instructions to foreign counterparts for the LQD and HYG instruments:
We request service users to inform their counterparts abroad of the new settlement instructions (SSI) regarding the aforementioned instruments, which will come into effect on the following date:
Current Instructions
Instructions as of the settlement date 06/24/2019
Custody
DTC-BVE
EUROCLEAR-BVE
Custody Country
United States
United States
Custody Account
4180
13706
In accordance with the provisions of Section 16.1.1 of DCV's current Internal Regulation, depositors are informed that the new version of the International Custody Operations Guide is available, which includes the aforementioned changes.
If you have any doubts, please contact us at InterMac
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Sincerely,
DEPÓSITO CENTRAL DE VALORES S.A., DEPÓSITO DE VALORES
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