DCV Informs, errata: Changes to the Citibank N.A. Cross-Border Custody Service

Dear Participants,

Depósito Central de Valores  corrects information from the bulletin sent on May 12, highlighting in red what is modified:

We remind you that, as of May 26, 2023, DCV will begin with the migration and authorization of the new international infrastructure Citibank N.A., which will replace access to the American market through the Depository Trust and Clearing Corporation (DTCC).

The holdings currently held at DTCC will be migrated in two instances to accounts especially opened for that purpose:

• MVE (DTC 4180): The Foreign Securities Market instruments will be migrated on Friday, May 26.
• CI (DTC 2735): The Traditional Cross-Border Custody instruments migration continues on Friday, June 2.

There mustn't be any transactions in transit at the moment of migration, and due to this:

• Any transactions with a settlement date of May 29 must be instructed on the same settlement date on DCVe.
• The same applies to transactions with a settlement date of June 5, which must be instructed on the same settlement date on DCVe.

New Settlement Instructions

Considering the above, we request all the participants of the Cross-Border Custody Service to inform their counterparts of the new settlement instructions (SSI), which will be in force as per the service's migration date.

• MVE: May 26, 2023
• CI: June 5, 2023:

It must be noted that the new instructions must indicate the sub-account described below.

Instructions to send funds for purchase transactions

On the other hand, the instructions to send funds must also be amended, due to which we would like to request you to inform this to your corresponding treasury departments.

The funds (USD) to settle purchase transactions must be sent to the following DCV accounts in Citibank London:

1. For transactions in Foreign Stock Exchanges:

2. For Cross-border custody transactions:

NY American Market Citibank Rates (USA)

On the other hand, and so as not to impact the costs of clients at this stage, the rates applicable to the new infrastructure of Citibank NY in the American market will be equivalent to the current ones through DTCC.