CCLV Central Counterparty is a subsidiary of the Santiago Exchange and aims to manage the clearing and settlement of financial instruments.
The CCLV acts as central counterparty for the equities and derivatives markets, providing clearing and settlement services.
As a clearinghouse of financial instruments, the CCLV provides these same services for fixed-income, money market and simultaneous operations markets. As a result, the CCLV facilitates transaction settlements and provides greater levels of financial security for capital market participants.
The CCLV has three committees for monitoring and analyzing processes:
Audit Committee: Monitors compliance with the CCLV Operating Rules.
Disciplinary Committee: Proposes to the board of directors sanctions and/or penalties to be applied to settlement agents and/or indirect settlement agents for violating the CCLV Operating Rules.
Risk Committee: Evaluates and proposes improvements to management policies and risk control programs administered by the CCLV systems.
- CCLV, Central Counterparty is a subsidiary of Santiago Exchange company, which owns 97.12% of the company, with stockbrokers holding the remaining 2.88%.
- Takes into consideration international standards on financial risk and settlement of financial instruments and cash.