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| Circular | Annex | Date | Reference | Status | Download |
| 374 | Yes | 04.07.2025 | New fee for non-affirmed transactions | In effect | YES |
DEPÓSITO CENTRAL DE VALORES S.A.,
DEPÓSITO DE VALORES
Dear Participants,
Depósito Central de Valores informs you that The Depository Trust Company (DTC) has raised the cost for non-affirmed securities delivery transactions (due to the fact that they were instructed after the cut-off time) from USD 0.5 to USD 0.64 per transaction.
Thus, in the case of cross-border custody depositors who operate with custody in the United States of America (USA) market and who incur in the scenario described above, this cost will be passed on as a refund, starting with the May 2025 billing.
The details of the initial cost were informed in Circular No. 364 of October 4, 2024, which also recalled the cut-off times for transactions.
In this regard, we request that you pay 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.
- The cost 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:
GO TO THE SCHEDULE
For more information, please contact our customer service channels:
DCV Customer Service
Sincerely,
DEPÓSITO CENTRAL DE VALORES S.A.,
DEPÓSITO DE VALORES
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