Circular Letter N° 361 "Cross-Border Custody: Extension of Cutoff and Funds Automatic Allocation Times"

DEPÓSITO CENTRAL DE VALORES S.A.,
DEPÓSITO DE VALORES

Dear Depositors,

Following our commitment to continue improving our services and providing value to our clients, we wish to inform you that the cutoff times for registering instructions in DCVe and receiving transaction funds will be extended. In addition, we are including the option of automatic funds allocation that directly benefits the times available for transactions.

Regarding the new cutoff times, we underscore the following:

• These have been defined according to the operating hours of our custodians and considering the time needed for DCV's operations.
• They do not consider the affirmation process in the United States since the focus is on the settlement process of international custodians.
• New hours of operation in Citibank: (See page 30 of the new guidelines).

• Instructions will be registered in Citibank to the extent that the funds have been received in the case of purchases and if there are enough holdings in the account in the case of sales.
• New hours of operation in Euroclear: (See page 24/37 of the new guide).

• For Euroclear, operating under an omnibus account, the instructions will be registered to the extent that the funds have been received in the case of purchases and if there are enough holdings in the account in the case of sales.
• For those depositors that operate under a segregated account, the instructions will be sent as soon as they are registered for pre-matching, waiting to receive the funds or securities, as appropriate.

NOTE: The cutoff times established by DCV for the affirmation process (change in the T+1 rules) can be found in Circular No. 358 of April 15, 2024.

Regarding the automatic funds allocation for purchase transactions, we highlight the following:

• This is an option that allows an extension of the cutoff times, but it requires configuration from the depositor.

We invite depositors who wish to use this option to contact DCV's Commercial Department for guidance. The times established for this modality are almost on par with our custodian's cutoff times.

Finally, as required by regulations, we have updated the International Custody Service transactions guide.

Transactions guide
(Spanish only)

Download

For more information, please contact us
DCV Commercial Department
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Kind regards,
DEPÓSITO CENTRAL DE VALORES S.A.,
DEPÓSITO DE VALORES