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.
