Citi Appointed Global Custodian for Depósito Central de Valores, the Central Securities Depositary for Chilean Securities

Depósito Central de Valores and Citi Securities Services jointly announced today that Citi has been appointed as custodian of international securities for Depósito Central de Valores (DCV), the central securities depositary (CSD) for Chilean securities. The transition of the assets successfully went live on May 26th, broadening the existing relationship between Citi and DCV.

Through Citi’s extensive global network spanning more than 100 markets, DCV will be able to provide its depositors with greater and more timely access to global markets. The expanded relationship will also enable DCV clients and direct participants to take advantage of new services ranging from individual accounts, settlement in FED, operations netting (intermediation), tax (Qualified Intermediary) services and investments in US mutual funds.

Citi continues to be one of the leading Financial Market Infrastructure service providers in Latin America. Over the last seven years, Citi has played a key role in supporting the CSD’s cross- listing programs across major economies including Brazil, Mexico, Chile, Colombia, Peru and El Salvador, helping to drive domestic capital activity and the sourcing of global securities. As a major custody provider in the Americas, Citi has a prominent local presence market in Argentina, Brazil, Colombia, Mexico, Peru and Panama.

In Chile, DCV has become a relevant international custody player in the country, in addition to its central securities depositary activity for domestic assets, holding in portfolio more than US$ 413 billion.

“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,” said Rodrigo Roblero, DCV General Manager.

“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 depositaries. As the custodian to the cross-listing programs for the largest central securities depositaries in Latin America for over seven years, we continue to support their efforts to address the increasing sophistication of the local markets,” said Ricardo Hesse, Citi Latin America Head of Securities Services.

About Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

With around US$26.2 trillion of assets under custody, administration and trust and an industry-leading proprietary network spanning over 60 markets, Citi Securities Services provides clients with extensive on-the ground local market expertise, innovative post-trade technologies, customized data solutions, and a wide range of securities services that can be tailored to meet clients’ needs.

*Banco de Chile operates as a Sub-custodian of Citi in Chile.

About DCV

Depósito Central de Valores S.A. (DCV) is a corporation established in accordance with Law 18,876 and its regulations, and directives of the Comisión para el Mercado Financiero, (Commission for the Financial Market, CMF). DCV is entitled to receive public offering securities under deposit for transfer between depositors as per this Law. DCV's purpose is to electronically process and register transfer transactions in stock exchange and the over-the-counter market, and coordinate and provide the necessary information for financial settlement of such transactions.


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