26 May 2017
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.”

More Industry news
The latest news from Securities Lending Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
SMEs to face new research costs under MIFID II
14 December 2017 | Frankfurt | Reporter: Zsuzsa Szabo
Research services for SMEs will no longer be free of charge when MiFID II comes into force on 3 January 2018
Hedge funds in sprint finish for record-breaking returns in 2017
14 December 2017 | London | Reporter: Drew Nicol
Hedge funds are on track for their best annual revenue since 2013 with average returns of 7.7 percent, according to eVestment research
Wilmington Trust appoints AcadiaSoft for collateral management solution
13 December 2017 | Boston | Reporter: Zsuzsa Szabo
The wealth management is to launch a new margin management service
Malaysia begins Islamic stock lending
13 December 2017 | Kuala Lumpur | Reporter: Jenna Lomax
The introduction of Islamic stock lending aims to provide a Shariah-compliant alternative to the securities borrowing and lending negotiated transaction framework
State Street positive in 2018 global outlook
12 December 2017 | Boston | Reporter: Jenna Lomax
State Street Global Advisors predicted a trend rate of 3.7 percent in 2018
Synechron names Chris Ekonomidis as director
12 December 2017 | New York | Reporter: Zsuzsa Szabo
Ekonomidis has moved to Synechron from Sapient Global Markets
Pirum and Stonewain collaborate on near real-time services
11 December 2017 | London | Reporter: Zsuzsa Szabo
Pirum has completed an upgrade of the standard interfaces to and from Stonewain’s Spire securities finance platform, enabling “near real-time services” for mutual clients