Depósito Central de Valores (DCV) has developed a new service for participants, after the launch of the Venture Market by the Santiago Stock Exchange. The idea is to provide custody services abroad for new Canadian securities traded in the local stock market and which will be traded and settled in pesos, through DTC (Depository Trust Company) and Euroclear.

DCV’s decision in this matter has been strategic for its international custody area, thanks to the solid infrastructure it has built in recent years through agreements with international securities depositories and global custodians.

Ana María Cáceres, Head of International Operations at DCV, stated “as a relevant actor of the capital market, DCV planned long ago to deliver new services through a safe and reliable infrastructure for its participants. Furthermore, it is another way to be present in the new processes, businesses and challenges that the increasingly globalized market faces, which compromises us, as an entity, to be always at the forefront”.

To date, the Canadian instruments eligible and registered in the Foreign Venture Market are nine. They are growing junior mining companies that choose to be listed on this market to become one more investment choice and therefore, reach a larger universe of investors. “Similarly, being registered in the Santiago Stock Exchange allows these issuers to reach the Latin American Integrated Market (MILA), that is to say, they not only reach Chilean investors but also the Peruvian, Colombian and Mexican markets”.

With regard to the benefits for stockbrokers, she mentions that it allows them to further diversify the portfolio they offer their clients as they are instruments of a highly developed and stable market, which are part of the features that investors seek today.

Ana María Cáceres states that the expectations for the Venture Market are relevant: “The idea is quite ambitious in the best sense of the word. Nine instruments are registered so far and I understand that the goal is to reach a total of approximately 50 issuers, and in the same manner, the idea is that a significant number of Chilean issuers are listed on the TSXV”.

She added, “DCV first offered the MVE service to its participants more than five years ago, principally American instruments. We have an operating volume that has being growing every year, which today provides us with broad experience to settle operations abroad, solve problems in a timely manner and record a very low benchmark of failed trades. The preceding provides us with the confidence today to open horizons to offer our participants new services with a high level quality”.

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