Chilean central securities depository Depósito Central de Valores (DCV) has selected Citi Securities Services as its international securities custodian.
The appointment gives DCV’s clients access to new services including individual accounts, operations netting and US mutual fund investments. Citi’s global network will also allow DCV to grant broader and more timely global market access to its depositors.
Citi has supported DCV’s cross-listing programmes over recent years, helping the firm to increase domestic capital activity and source global securities. By expanding the existing relationship between the two entities, Citi continues to grow its Chilean, and more broadly Latin American, presence.
Rodrigo Roblero, general manager of DCV, says: “Including Citi as part of the infrastructure of our international custody service will strengthen our network of global custodians, allowing us to better respond to the needs of the domestic market as well as provide additional services to our clients.”
Ricardo Hesse, Latin American head of securities services at Citi, adds: “The expansion of our relationship with DCV reflects Citi´s over 30-year commitment to the Latin America region and our experience in building solutions to address the needs of the central securities depositories. We continue to support [DCV’s] efforts to address the increasing sophistication of the local markets.”
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