Caja de Valores S.A. ("Caja de Valores"), the Argentine collective depository system, now renders the service of transaction settlement by Delivery versus Payment (DVP) and Receipt versus Payment (RVP) through its accounts in Euroclear and Clearstream.
The depositors in Caja de Valores will be able to settle DVP and RVP transaction in Euroclear and Cleastream with their sub-accounts with Caja de Valores. The settlement of securities transactions can be done in Pesos or US Dollars, but the transactions will have to be settled with funds in the same depository where the securities are transferred.
The depositors will not be allowed to make transfers of funds to an account of another person unless the transfer is made under a DVP or RVP transaction. Any credit or debit in a Peso or US Dollar account which is unrelated to the settlement of securities transactions will have to be done from or to a bank account of the holder of the account.
This new alternative provided to depositors in Caja de Valores will help to integrate the Argentine securities market with foreign markets.
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