DTCC s International Links
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1 DTCC s International Links ACSDA Leadership Forum Santiago, Chile October 8, 2009
2 Agenda Who are DTCC s CSD customers? Type of links supporting cross border flows Transaction processing Additional services Connectivity Memoranda of Understanding (MOU) ACSDA Cross Border Committee
3 Who are DTCC s CSD Customers? Central Security Depositories (CSDs). International Links enable: Non-US investors to hold or pledge eligible securities abroad, while custody is centralized at DTC. Issuers of DTC eligible securities to economically reach non-us investors. US holders to hold non-us securities overseas Movement of securities (deliveries & receives) between US & international brokers, banks & any other members of the local CSD.
4 List of International Links Country Account Name Argentina Brazil Canada Chile Germany Hong Kong Israel Italy Japan Peru Singapore Switzerland UK Caja De Valores S. A. BM&FBovespa Canadian Depository for Securities Canadian Derivatives Clearing Corp Deposito Central de Valores Clearstream Banking Hong Kong Securities Clearing Corp. Tel-Aviv Stock Exchange Clearing House Monte Titoli Japan Securities Depository Center CAVALI S. A. ICLV Central Depository (PTE) Ltd. SIS SegaInterSettle AG CREST (Euroclear UK & Ireland)
5 Types of Links Inbound Links: CSD accounts at DTCC Delivery vs. Payment Free of Payment Collateral Pledgee Outbound Links: DTCC accounts at other depositories Delivery vs. Payment Free of Payment
6 Current CSD Links: Clearing, Settlement and Custody Canadian Depository for Securities account, with full DVP and clearing.
7 Current CSD Links into DTC: Custody and Book-entry Delivery Clearstream Banking Frankfurt (Germany) Central Depository Pte Ltd (Singapore) Cavali (Peru) Caja de Valores (Argentina) CRESTCo (UK) Deposito Central de Valores (Chile) Hong Kong Securities Clearing Company Tel Aviv Stock Exchange Clearing House (Israel) Monte Titoli (Italy) JASDEC (Japan)
8 Indirect Links into DTC Agent Banks
9 Current CSD Links into DTC: Pledgee Accounts BM&FBOVESPA Brazil Canadian Derivatives Clearing Corporation
10 Current DTC Links into CSDs Canadian Depository for Securities Clearstream Frankfurt SIS SegaInterSettle AG
11 DTC s Current CSD Links DTC Securities Delivery CSD DTC Participant Payment Arrangement CSD Participant
12 Transaction Processing In order to optimize the processing, DTCC sets different cut-off times in different time zones, so these CSDs can complete the processing of same day receive from other participants within their business hours on the same day. DTC participants delivering positions into CSD, must identify the CSD s local customer. To support the need for DTCC customers to identify securities eligible for each account by CUSIP as well as local codes, identifying members at the CSD, DTCC offers a reference master file to facilitates coding for these accounts.
13 Additional Products & Services Asset Services Clearance & Settlement Direct Dividend Payment US Tax Withholding Services Qualified Intermediary (QI) Non-Qualified Intermediary (NQI) Reports Daily activity report
14 Connectivity SMART/Dialer (DTCC dial up software) ISO Messaging & SWIFT Computer-to-computer (CCF)
15 Cross Border Flows Dually Eligible Issues DTC DCV DTC Participant A DTC Participant B DTC Participant DCV Member A Member B
16 Memoranda of Understanding (MOUs) DTCC s Cooperation with: 1. Taiwan Securities Central Depository (TSCD) 2. Japan Securities Depository Center (JASDEC) 3. Korea Securities Depository (KSD) 4. Chinabond (CDC) 5. Chinaclear (SD&C) 6. National Securities Depository Ltd., India 7. Central Depository Services of India Ltd 8. Pakistan Central Depository 9. Clearing Corporation of India Ltd (CCIL) 10. BM&FBOVESPA (Brazil) 11. National Securities Clearing Corporation (NSCCL - India)
17 ACSDA Cross Border Links Committee Arrangements for knowledge sharing & implementation of technology Develop linkages with growing markets to strengthen the markets for foreign investment Establish global standards and capability development Settlement Advisors for Ibero-America Stock Exchange Federation Market links Project
18 Questions
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