Nasdaq is to boost the technological infrastructure Chile’s central securities depository (CSD) following the signing of an agreement with Depósito Central de Valores (DCV).
“We are very satisfied with our thorough, year-long vendor partnership process in selecting the Nasdaq platform, which will replace the core system of the DCV,” says Fernando Yáñez, CEO of DCV. “We believe with the implementation of this new system, we will have more opportunities for growth and diversification in our current services, as well as strengthening our day-to-day operations.”
Under the agreement with DCV, Nasdaq will deliver its CSD Solution, which will allow for seamless trade and instruction management, settlement, custody, corporate event management and registry capabilities; full coverage for all types of securities and multi-currencies (including UF, ie inflation indexed non-deliverable currency); support for smooth, fault-free settlement with optimisation algos, as well as potentially provide facilities to securities lending and borrowing accounting; and enabling full STP and based on global standards and market practices, while reducing operational complexity.
“As a partner with the DCV on transforming their technology to a next-generation platform, the Nasdaq Financial Framework’s open nature will support the future growth and demand of their business, as well as requirements from partners and regulators,” says Lars Ottersgård (pictured), executive vice president and head of market technology, Nasdaq. “By leveraging the Nasdaq Financial Framework, DCV’s new technology will allow for standardised, unified operations, messaging and data infrastructure coupled with unparalleled flexibility and cost efficiency. DCV can also integrate its own business functionality, as well as other third-party offerings, helping to meet their own unique needs.”
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.