In order to facilitate the access of Chilean investors to international markets and, similarly, that of foreigners who wish to acquire national or European instruments, the Depósito Central de Valores (DCV) and Euroclear signed a Memorandum of Understanding (MoU) in which both parties undertake to make their best efforts to cooperate to strengthen their existing operations and implement new facilities for their future custody transactions.

 
“For DCV it is a source of pride to have a link with Euroclear as very few national entities have a relationship with this international securities depository. In that respect, they provide us with experience and infrastructure so that we may offer our depositors the potential of attractive new business,” explained the Commercial and Legal Affairs Manager of the DCV, Javier Jara.

 
As part of this agreement, the two companies, DCV and Euroclear, have agreed to work primarily in:

Javier Jara said, that “this partnership will benefit our customers because Euroclear provides access to various markets worldwide. That means that based on the agreement between DCV and Euroclear, DCV customers may now have access to the services and facilities that this entity provides to almost 50 markets.”

The signing of this MoU highlights the importance of the Chilean market for this entity and the value of the alliance with the DCV, where we continue working to strengthen the existing bond. Euroclear Bank is the first International Central Securities Depository (ICSD) in partnership with DCV, providing custody, transaction settlement and other related services.

In June 2011, DCV and Euroclear signed a bilateral alliance. Through this agreement, DCV provides services to its depositors, including eligible foreign securities transactions through Euroclear Bank and their custody in this entity. IN turn, the alliance allows Euroclear Bank to offer the custody of Chilean securities - including government bonds – to its customers in over 90 countries.

 
In the short term, the expectations regarding this agreement which facilitates access to international markets, “is to increase each day the amount in custody and furthermore that Euroclear may begin operating more proactively the opened account maintained with DCV, so that members of the European securities depository may become direct custodians of Chilean securities,” added the Commercial Manager, Javier Jara.

 
The executive also pointed out that in the medium term they intend to deliver some projects, such as, the access to securities and collateral lending programs, the creation of a more efficient infrastructure to facilitate the market of national funds and access to international mutual funds, among other things.

DCV NOTICIAS