Chile鈥檚 CSD looks to Nasdaq for sec lending platform
26 May 2017 Santiago
Image: Shutterstock
Nasdaq has been chosen by Chile鈥檚 central securities depository (CSD) to create a securities lending accounting infrastructure as part of a major technology overhaul.
Chile鈥檚 Dep贸sito Central de Valores (DCV) aims to leverage Nasdaq鈥檚 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 鈥渟upport for smooth, fault-free settlement with optimisation algos, as well as potentially provide facilities to securities lending and borrowing accounting鈥�.
The system will also be enabled for straight-through processing and be based on global standards, while reducing operational complexity, according to DCV.
鈥淎s a partner with DCV on transforming their technology to a next-generation platform, the Nasdaq Financial Framework鈥檚 open nature will support the future growth and demand of their business, as well as requirements from partners and regulators,鈥� said Lars Ottersg氓rd, executive vice president and head of market technology at Nasdaq.
鈥淏y leveraging the Nasdaq Financial Framework, DCV鈥檚 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.鈥�
Chile鈥檚 Dep贸sito Central de Valores (DCV) aims to leverage Nasdaq鈥檚 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 鈥渟upport for smooth, fault-free settlement with optimisation algos, as well as potentially provide facilities to securities lending and borrowing accounting鈥�.
The system will also be enabled for straight-through processing and be based on global standards, while reducing operational complexity, according to DCV.
鈥淎s a partner with DCV on transforming their technology to a next-generation platform, the Nasdaq Financial Framework鈥檚 open nature will support the future growth and demand of their business, as well as requirements from partners and regulators,鈥� said Lars Ottersg氓rd, executive vice president and head of market technology at Nasdaq.
鈥淏y leveraging the Nasdaq Financial Framework, DCV鈥檚 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.鈥�
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