More on CAVALI and DCV

CAVALI provides its participants, Peru’s financial intermediaries, with settlement and registry services for their client investors. CAVALI currently has 30 participants, including brokerage houses, banks and pension fund managers. Through providing advisory services for depositories in Bolivia and Dominican Republic, CAVALI also owns 20% of each and serves on their boards.

DCV, as Chile’s national Central Securities Depository, holds nearly US$179 billion on deposit (December 2007), and settled between US$1 billion and $1.5 billion in transactions daily in 2006. DCV’s 155 shareholders include commercial banks and pension funds, each with a 30% shareholding; the Santiago Stock Exchange with 23%; the Electronic Stock Exchange with 6%; life insurance companies with 10%; and other small shareholders with the remaining 1%.