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On Tuesday, May 26th, ACSDA gathered its members with the purpose of sharing experiences on the current situation in individual markets and how their organizations are responding to the current pandemic.
More than 30 people representing the securities depositories associated with ACSDA (America's Central Securities Depositories Association) participated in this video conference. Some of the countries attending were Mexico, El Salvador, Guatemala, Paraguay, Panama, Peru, Chile, Bolivia, and Uruguay.
Javier Jara, Commercial and New Businesses Manager of DCV and Vice-chairman of ACSDA, informed on the measures taken by DCV to protect the health of its staff and ensure the safe operation of the Company. Among the activities mentioned, he pointed out the constant communication with staff, where people and their new remote work situation were put at the center. Thus, taking care of their physical and mental health, providing remote leadership tools and healthy break initiatives through DCV's Quality of Life Program, as well as periodic surveys that allow an early assessment of how the different work teams find themselves, among others. On the other hand, among the measures with respect to the market, the ongoing communication to inform of the new protocols and procedures to face activities (that are typically carried out in person) were highlighted, as well as restrictions to the in person service, remote service channels and commitment to continuity and quality of service.
During this meeting current contingency issues were addressed, from the perspective of the different countries, all of which were very diverse in terms of the proportion of dematerialized instruments, transaction volumes, number of workers and more. It was no surprise to everyone that having preparation in the area of business continuity plans to deal with remote operation in such a short time was essential.
Regarding the challenges they face, they unanimously shared their vision on the uncertainty that exists in relation to returning to "normality", what the return to operations will be like, how the markets will behave, and how long the different economies will take to recover the growth prior to this world crisis. All of which is, without a doubt, the greatest concern that we share among all countries.
"These meetings are important and productive, especially in these times when we are constantly adopting necessary measures to ensure business continuity. So, all types of information exchange are always a contribution", added Jara.
On behalf of the Depósito Central de Valores Chile those who participated were Fernando Yáñez, General Manager; Javier Jara, Member of ACSDA's Executive Committee and Commercial and New Businesses Manager; Claudio Garín, Operations and Services Manager; Sandra Valenzuela, Human Resources Manager; Jaime Fernández, Comptroller and Compliance Manager and; André Medel, Head of Business Continuity and Information Security.
The next meeting will be held in mid-June 2020.
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