Dear Participants

Following the joint efforts of the Depósito Central de Valores and the Association of Banks and Financial Institutions, as to using the Electronic Pledge Registry Service (REP) –whose results were made known by both institutions in late June (a copy of which we attach hereto) - there has been a significant increase in the electronic registry and release of pledges, achieving an overall growth for the period of July-December of 89.5%.

In the last two months of 2016 alone, it increased by 22.3% compared with September-October of the same year, which in terms of REP instructions means 96 registries, one of the most significant growths of 2016, only surpassed by the increase of 88 instructions registered immediately after the DCV-ABFI agreement was published.

The foregoing is a direct consequence of the already 46 depositors that, just like DCV and ABFI, understand that the Electronic Pledge is the future way of operating. They use the REP service principally to:

• Secure Operations with financial derivatives between counterparties enrolled in the service (Threshold agreements).
• Ensure, by means of securities with DCV, Intraday Loans, other short and long-term credit obligations. 

We remind you that the Electronic Pledge Registry available as of this date provides high speed, and a clear opportunity to save costs, as shown in the following comparative table:

We invite you to be a part of this service, which already has over 50 Depositors enrolled. If you wish further details.

Check the Letter Here (Spanish Only)

For further information, please contact the DCV Commercial Area at the email This email address is being protected from spambots. You need JavaScript enabled to view it., or at the phone number (+56) 223 939 000.

Saludamos atentamente.

Depósito Central de Valores; Depósito de Valores S.A.

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