“Depósito Central de Valores (DCV) established a partnership with InBest, an entity whose mission is promoting the Chilean financial market in the international community."
As part of its ongoing commitment to developing and promoting the capital market, Depósito Central de Valores (DCV) established a partnership with InBest, an entity whose mission is promoting the Chilean financial market as an investment destination in the international community."
With this partnership, DCV becomes a collaborator of InBest and contributes to promoting the participation of all players in the securities market, including issuers, institutional investors, banks, funds administrators, stockbrokers, law firms, auditing companies, and risk rating companies, among others.
"At DCV, we want to continue promoting and contributing to the market's development and make it more known and valued locally and internationally." Joining the team of external companies that support the work of InBest is highly satisfying for us."
"For the fifth year in a row, Depósito Central de Valores is sponsoring this award given to the People Vicepresident of Walmart, Denisse Goldfarb."
Depósito Central de Valores (DCV) is supporting the Executive of the Year award, organized by Mujeres Empresariasand Diario Financiero for the fifth year. This year the award was given to Denisse Goldfarb, People Vicepresident of Walmart Chile, and Bárbara Poblete obtained the "Scotiabank Prize."
We congratulate Ximena de la Cruz, María Eugenia Fuentes, María Inés Gómez, Daniela Novoa, and Karla Osorio for being nominated for such an important award whose purpose is to recognize the work of professionals in first or second-line managerial positions that stand out for their excellence, management skills, innovation, influence, leadership, and careers.
In 2022, Sandra Valenzuela, People Management Manager, was part of the jury that selected the winners from hundreds of professionals exclusively related to human resources.
At DCV, we are proud and excited to be part of this recognition. With it, we would like to continue promoting, applauding, and giving visibility to those remarkable women that have contributed to making their companies and Chile a better place for all.
The ceremony also included a round table on "The closing of schools and daycare centers: The measures adopted by companies to support child care at home" with panelists such as Jacqueline Balbontin, People Management VP, Culture and Corporate Affairs of Scotiabank, Denisse Goldfarb, People Vicepresident of Walmart, and Marily Lüders, Director of Diario Financiero.
For the fifth year in a row, Depósito Central de Valores is supporting this award for a professional that stands out in people management. Sandra Valenzuela, People Management Manager, was part of the jury.
Depósito Central de Valores (DCV) is supporting the Executive of the Year award, organized by Mujeres Empresariasand Diario Financiero, for the fifth year. This award recognizes women professionals in first or second-line management positions that stand out for their excellence, management skills, innovation, influence, leadership, and careers.
At DCV, we are proud and excited to be part of this recognition. With it, we would like to continue promoting, applauding, and giving visibility to those remarkable women that have contributed to making their companies and Chile a better place for all.
This year, Sandra Valenzuela, People Management Manager, will be part of the jury that will choose the winner out of several candidates from the sector.
This year the award will be focused on people management departments that play a strategic and vital role in meeting the goals of an organization, due to which the award will be given to those women working in those positions.
The award ceremony will be broadcasted live on Thursday, July 14, at 9:00 a.m. atDF.CL with a round table moderated by Marily Lúders, Director of Diario Financiero (DF), and Francisca Valdés, Executive Director of Mujeres Empresarias, and is comprised by Jacqueline Balbontin, People and Culture Management & Corporate Affairs VP at Scotiabank Chile and Denisse Goldfarb, People's Vicepresident at Walmart Chile.
The online event gathered more than 90 delegates from regional depositories associations from all over the world.
Every two years, securities depositories worldwide get together in a global conference organized by World Forum Conference (WFC). This year, more than 90 delegates from all over the world and 71 speakers got together between May 30 and June 1 in an online event that included the representatives of regional securities depositories associations from Asia-Pacific, Africa, the Middle East, Europe, and Eurasia, as well as regulators and other actors from the capital market.
Depósito Central de Valores (DCV) was represented by Javier Jara, Legal and Corporate Affairs Manager, who was also a speaker in the 10th session and talked about: "Business optimization and how to escalate," a discussion panel on the new services of the CSDs (crowdfunding platform management, pensions savings, RegTech (Regulatory Technology), SupTech (Supervisory Technology), new asset class services, etc.).
"These meetings are important to share information and update our knowledge. We are at a point when several securities depositories, both regionally and globally, are searching for ways to broaden their services portfolios. Getting to know these experiences from the depositories themselves is very positive," said Javier Jara.
The topics discussed in the 2022 World Conference Forum included: sustainable development, cross-border investment flows, technological insights for MFIs, settlement cycle, etc.
DCV ESE Seminar "A Capital Market without any Capital?": It is Time for the Chilean Peso"
The seminar "A Capital Market without any Capital?: It is Time for the Chilean Peso" took place with the presence of the Minister of Finance, Mario Marcel, and the President of Depósito Central de Valores (DCV) and Credicorp Capital Guillermo Tagle. The seminar was organized by Depósito Central de Valores and Centro de Estudios Financieros, ESE Business School.
The capital market development is one of the most significant challenges that Chile has ahead. Minister Mario Marcel presented the main agenda items of this Administration with which they intend to strengthen the financial market.
First, several initiatives have been implemented to internationalize the Chilean peso. "The purpose is to stimulate greater competitiveness and efficiency in local financial markets, removing obstacles for non-residents to act as players in the local market, especially contributing to the improvement in the establishment of prices, increasing liquidity levels, and aligning the operation of the local foreign currency market with international practices. The internationalization of the Chilean peso would allow for the issuers of debt, either residents or non-residents, to request funding payable in pesos in international markets, without the need to incur in exchange risks," said the Minister.
Second, Minister Marcel announced that the Government is soon to present a bill of law that strengthens the financial system's resilience and its infrastructures and will also strengthen the local risk market.
"Let's remember that in the pension funds settlement period, due to their withdrawal, the Central Bank had to put in place a Repo-type mechanism because this market had not been developed. It is important for this market that provides liquidity to be developed," he stated.
"The project aims at improving aspects applicable to the legislation of credit unions, and eventually, provide access to the Central Bank's financial services to some of those that meet the requirements". Mario Marcel, Minister of Finance, Government of Chile
The President's Management Agenda also includes a derivatives market improvement process and the expansion to cross-border transactions, moving forward with the Fintech act, and recovering the long-term savings capacity in the local market.
Discussion Panel
The second part of the seminar consisted of a discussion panel moderated by the Director of Centro de Estudios Financieros, María Cecilia Cifuentes. It included Karen Ergas, Company Director, Mario Farren, former Superintendent of Banks and Financial Institutions; and Guillermo Tagle, President of Depósito Central de Valores (DCV) and Credicorp Capital.
María Cecilia Cifuentes, Director of Centro Estudios Financieros
Mr. Tagle said that the only actual source of savings for a country such as Chile "is the monthly contribution of all workers that save their money to survive. These resources are gathered and managed with financial rationality, and these are the ones that have allowed to create so many benefits for the country".
“SIf we have a capital market that does not have any trust in the future, the situation becomes stagnated, and to some extent, what led to this pause in the markets was the lack of certainty in terms of the future rules of the game”,
Guillermo Tagle, President of Depósito Central de Valores (DCV) and Credicorp Capital
For Karen Ergas, Company Director, both the public and the private sector are relevant players in creating a robust and developed market. "From the public sector, we must be proactive in being better at coordinating regulatory entities such as the Internal Revenue Service (SII), the Central Bank, and the Financial Market Commission (CMF) to work on the gaps in terms of regulatory asymmetries in taxation for foreign investors," she claimed.
Karen Ergas, Company Director.
In terms of the private sector, Mrs. Ergas believes that it is of utmost importance to go in-depth into financial education. "The private sector needs to ensure that the level of clarity and transparency in the entire market is good. The more financial education we have, the more financial inclusion we will have in the capital market."
Mario Farren, former Superintendent of Banks and Financial Institutions.
Mario Farren agreed that internationalizing the peso would significantly contribute to the development of the financial market: "The Chilean peso attracts investment, capital, and makes markets more efficient because it makes prices more visible. By internationalizing the peso, we will allow more investors to come, establish their operations in Chile, and get the Chilean price in pesos within the local market. That would be an enormous benefit".
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