ACSDA Issuer Services Survey

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ACSDA Issuer Services Survey
2008
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CDSs that responded the Issuer Services
Questionnaire

• CDS - Canada
• DTCC United State
• INDEVAL México
• CBLC Brasil
• BOLSA DE VALORES NACIONALES - Guatemala
• LATINCLEAR - Panamá
• CENTRAL NICARAGUENSE DE VALORES Nicaragua
• CEDEVAL El Salvador
• BERMUDA SECURITIES DEPOSITORY Bermuda
• EASTERN CARIBBEAN CENTRAL SECURITIES DEPOSITORY
  Eastern Caribbean
• CAJA VENEZOLANA DE VALORES Venezuela
• DECEVAL Colombia
• CAVALI Perú
• CAJA DE VALORES Argentina
• EDV Bolivia
• DCV Chile
• STRATE South Africa
• Bolsa de Valores de Costa Rica
• CEVALDOM Dominican Republic

N21
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Issuer Services Survey ACSDA 2008SERVICES

• Category 1 Corporate actions
• Category 2 Issue administration services
• Category 3 General Assembly meeting
  administration services
• Category 4Other services

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Study Methodology
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Corporate Action Section
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Issuer Services Survey ACSDA 2008 Corporate
actions section
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Issuer Services Survey ACSDA 2008Corporate
actions section
Way service is provided Mainly Direct and
Wholesale Interfaces Mainly Proprietary
network, paper, commercial network
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Issuer Services Survey ACSDA 2008 Corporate
actions section
Way service is provided Mainly Wholesale
Interfaces Mainly Proprietary network
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Issuer Services Survey ACSDA 2008 Corporate
actions section
Way service is provided Mainly Wholesale. Low
direct. Interfaces Proprietary network,
browser base, paper, commercial network
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Issuer Services Survey ACSDA 2008 Corporate
actions section
Way service is provided Mainly Wholesale
Interfaces Mainly Proprietary network
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Issue Administration Services Section
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Issuer Services Survey ACSDA 2008 Issue
Administration Services Section
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Issuer Services Survey ACSDA 2008 Issue
Administration Services Section
Way service is provided Mainly Direct and
Wholesale Interfaces Mainly Proprietary
network. Also browser base, paper, commercial
network
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Issuer Services Survey ACSDA 2008 Issue
Administration Services Section
Way service is provided Mainly Direct and
Wholesale Interfaces Mainly Proprietary
network, browser base, commercial network
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Issuer Services Survey ACSDA 2008 Issue
Administration Services Section
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Ordinary and ExtraordinaryGeneral Meeting
Services
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Issuer Services Survey ACSDA 2008Ordinary or
Extraordinary General Meeting Services Section
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Issuer Services Survey ACSDA 2008Ordinary or
Extraordinary General Meeting Services Section
Way service is provided Mainly Direct .
Follows Wholesale Interfaces Mainly
Proprietary network, browser base and paper
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Issuer Services Survey ACSDA 2008Ordinary or
Extraordinary General Meeting Services Section
Way service is provided Mainly Wholesale
Interfaces Mainly paper, Proprietary network,
browser base
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Issuer Services Survey ACSDA 2008Ordinary or
Extraordinary General Meeting Services Section
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Other Services
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Issuer Service Survey ACSDA 2008 OTHER SERVICES
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Issuer Service Survey ACSDA 2008 OTHER SERVICES
Way service is provided Mainly Direct. Follows
Wholesale Interfaces Mainly Proprietary
network. Also browser base and paper.
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Issuer Service Survey ACSDA 2008 OTHER SERVICES
Way service is provided Mainly Wholesale
Interfaces Mainly Proprietary network, browser
base, paper, commercial network
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Issuer Service Survey ACSDA 2008 OTHER SERVICES
The principal channel is the proprietary network.
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This chart shows that beneficiary account model
is not a relevant factor in the offer to issuers
services. Example CDS Canada vs. CBLC Brazil
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Issuer Service Survey ACSDA 2008
FINAL CONCLUSIONS

• An important business opportunity has being
  identified for CSDs. Corporate action services,
  issue administration services, and General
  Meeting Services are a possibility for growth and
  diversification of products and services. Is
  also an important revenue stream for many CSDs.
• Nevertheless, in certain traditionally exclusive
  services, depositories have competition
• Group of services associated with tax
  administration services, also have opportunities
  for growth, uptream and downstream.
• Depositories also have an important role to play
  in General Meeting administration services.

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Issuer Service Survey ACSDA 2008

• Traditional clients of the CSDs are the issuers,
  failing to take advantage of the potential that
  exists in investors.
• The most important interface to provide services
  is the proprietary one. Current trends shows the
  WEB to be an important media too. We see paper
  is also being used.
• Depositories must work to offer value added
  services to issuer and investor to produce more
  income. Tax administration services, General
  Assembly services are good busness opportunities.