Chile’s central securities depository (CSD), Depósito Central de Valores (DCV), has chosen Nasdaq to revamp its technological infrastructure.

Under the agreement, Nasdaq’s CSD solution will include trade and instruction management, settlement, custody, corporate event management and registry capabilities; and full coverage for all types of securities and multi-currencies. In addition, it will support settlement with optimisation algos, as well as potentially provide facilities to securities lending and borrowing accounting.

Fernando Yáñez, CEO of DCV, says it is “very satisfied with our thorough, year-long vendor partnership process in selecting the Nasdaq platform”; and that the new system will offer “more opportunities for growth and diversification in our current services, as well as strengthening our day-to-day operations”.

Nasdaq adds that its Nasdaq Financial Framework will allow for “standardised, unified” operations, messaging and data infrastructure. DCV can also integrate its own business functionality, as well as other third-party offerings.

Nasdaq’s exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 89 marketplaces across the Americas, Europe, Asia, Australia, Africa, the Middle East and the Caribbean.

DCV was established in March 1993. It is a private corporation and the only central securities depository in Chile which provides settlement and custody services. DCV holds $340 billion in custody and it has over 190 direct participants (banks, pension funds, life insurance companies and stock exchanges).

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