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A-Team Insight Blogs

Euroclear Bank to Offer Post-trade Services for Brazilian Securities

Euroclear Bank announces today the launch on 31 January of settlement, custody and related post-trade services for all Brazilian equities and domestic fixed-income securities. Transactions in these securities will be sent to Euroclear Bank’s local agent for processing in one of the three Brazilian central securities depositories (CSDs).

The three CSDs are Câmara de Custódia e Liquidação (CETIP) for corporate bonds, Companhia Brasileira de Liquidação e Custódia (CBLC BM&F BOVESPA) for equities, and Sistema Especial de Liquidação e de Custódia (SELIC) for government bonds. Euroclear Bank previously signed Memoranda of Understanding with CETIP and CBLC in 2007 and 2008, respectively.

Frédéric Hannequart, chairman of the board of Euroclear Bank, said: “Brazil’s capital markets are attracting growing international investor interest. Our clients will now be able to settle transactions in Brazilian domestic securities through our agent, Citibank, in the Brazilian market. This is a very important development in reinforcing our commitment to the Latin American region and in extending the scope of our services to clients. We will continue to work with the Brazilian authorities and market infrastructures on the development of useful services to Euroclear Bank clients involving Brazilian domestic securities.”

Brazil is the third Latin American market where Euroclear Bank offers services for domestic securities.

As of September 2010, the total foreign holdings in Brazilian securities amounted to EUR 240 billion (of which EUR 65 billion are fixed income and EUR 175 billion are equities). In addition, there are EUR 120 billion ADRs (American Depositary Receipts) and EUR 15 billion in Eurobonds denominated in the Brazilian real.

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