How DCV’s Technology Platform Is Modernizing Chile’s Capital Markets

Technology transformation is an overarching trend across financial markets. The post-trade ecosystem is no different. Sensing an opportunity to lead through innovation, Depósito Central de Valores (DCV) recently embarked on an ambitious journey with Nasdaq to modernize and upgrade its market infrastructure. Equipped with a new platform to power its core depository business and integrate digital assets, DCV is in a position to help drive growth across Chile’s capital markets.

A platform to carry out the vision

In 2018, DCV—the only central securities depository (CSD) in Chile—launched its Evolution project to bring its own business and the Chilean financial markets into the future. At the center of that campaign was an effort to upgrade post-trade infrastructure that could be a model for the Latin American region and the rest of the world.

There were a few fundamental requirements of any new platform: It needed to deliver performance, scalability, resiliency, security and world-class technology. It also needed to support business diversification and rapid go-to-market for new offerings.

DCV fulfilled all those priorities and more by striking a partnership to leverage Nasdaq’s CSD platform to modernize its tech stack, strengthen its operations and capture new opportunities.

New capabilities and collaborative implementation lead to desired outcomes

Nasdaq’s CSD platform is built to support the full post-trade transaction lifecycle, allowing organizations to meet the demands of today while building for the future. The topline benefits of the implementation for DCV were standardization, reduced complexity, unified operations, cost efficiency, and message and data infrastructure. On a more granular level, it gained:

• Seamless trade and instruction management
• Coverage across all security types and multi-currencies
• Robust, flexible, dynamic infrastructure with industry-leading throughput
• Interoperability with other CSDs
• Optimization algorithms for smooth, fault-free settlement
• Full STP built on global standards and market best practices

Crucially, DCV will also leverage Nasdaq technology to issue and settle digital assets, putting the CSD on the leading edge of the post-trade ecosystem in tokenization and DLT-enabled capabilities. The service will enable DCV to utilize smart contracts, automate asset servicing and reduce settlement times.

“With a solid focus on the client, at DCV, we recognize the need to move towards a modern capital market, with access to world-class standards and technology that allows agility and simplicity in the processes without neglecting the security that our business and our clients need. This is the vision that has mobilized us to advance in the DCV Digital project hand in hand with Nasdaq,” said Rodrigo Roblero, CEO at DCV.

Importantly, DCV and Nasdaq worked closely throughout the implementation process to shepherd the project through completion, setting the stage for success. And since going live, DCV has seen processing speeds up to 100 times faster.

Learn more

Click here to read the full story of DCV, why they decided to modernize their technology infrastructure, and what benefits they are experiencing.