Circular Letter N° 364 "Cross-border Custody: T+1-Affirmation Process and Cut-off Times"

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

Dear Depositors,
Depósito Central de Valores reiterates the information provided in Circular No. 358 of April 15, 2024, regarding the cut-off times for the "Affirmation" process in the foreign market. In this regard, we request your special attention to the following:

• DCV has delegated the affirmation activity to its foreign custodians accordingly.
• The affirmation process must occur on the negotiation's record date, which is in T, due to which the instructions to DCV must arrive before the established cut-off time.
• Those transactions instructed out of the cut-off times will be managed as such.
• Any transactions that our custodian Citibank has not affirmed because they were instructed out of the cut-off times will have an extra charge that will be transferred to depositors as a refund (USD 0.5 per transaction.) In this regard, Citibank has confirmed that this charge will begin to be transferred in the transactions of October 2024, and DCV will inform its depositors in the billing process reported in December.
• The cost overrun will only be applied to sales against payment or free-of-payment delivery transactions corresponding to Delivery transactions that our custodian registers in DTC. Due to the above, we suggest prioritizing these transactions when instructing to DCV.
• DCV will instruct the transactions to the custodian to the extent that the funds (USD) have been received in the case of purchases and if there are enough holdings in the account in the case of sales.
• The cut-off times for instructing settlement and for receiving funds in cash accounts can be downloaded from the following link:

Cut-off times to comply with the settlement of transactions

Cut-off times to comply with the "affirmation" process

Download Schedules

May you have any questions, contact your business executive
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Kind regards,
DEPÓSITO CENTRAL DE VALORES S.A.,
DEPÓSITO DE VALORES