26 May 2017
Santiago
Reporter: Drew Nicol

Chile’s CSD looks to Nasdaq for sec lending platform


Nasdaq has been chosen by Chile’s central securities depository (CSD) to create a securities lending accounting infrastructure as part of a major technology overhaul.

Chile’s Depósito Central de Valores (DCV) aims to leverage Nasdaq’s extensive technology products to revamp its trade and instruction management, as well as its settlement, custody, corporate event management and registry capabilities, among other features.

Commenting on the inclusion of a securities lending product, DCV said it has tasked Nasdaq with creating “support for smooth, fault-free settlement with optimisation algos, as well as potentially provide facilities to securities lending and borrowing accounting”.

The system will also be enabled for straight-through processing and be based on global standards, while reducing operational complexity, according to DCV.

“As a partner with 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,” said Lars Ottersgård, executive vice president and head of market technology at Nasdaq.

“By leveraging the Nasdaq Financial Framework, DCV’s new technology will allow for standardized, 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.”

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