Wednesday April 8 2015
News Source: Global Exchanges
Focus: Trading Systems and Technology
Type: General
Following Resolution N° 17.634/15, the Comisión Nacional de Valores (CNV – National Securities Commission – local SEC) appointed Caja Valores S.A. to substitute Citibank Argentina as Clearstream Banking’s custodian in the Argentine market. Citibank Argentina was no longer allowed to provide custody services to its customers, including but not limited to, Instruction Pre-Matching & Settlement, Corporate Action / Income Collection, Transaction and Position Reporting.
Due to the above, Clearstream Banking stated that any securities transactions received in respect of securities sub-deposited with Citibank Argentina would be rejected, and pending instructions would be cancelled until clarification of the situation in the local market was received.
Clearstream Banking has since received the appropriate confirmation from Caja de Valores clarifying the circumstances under which settlement may be resumed. Clearstream Banking has confirmed that effective immediately, internal and external settlement instructions have been reinstated for all Argentine securities except the Affected Securities.
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