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PARTICIPANT LEVEL MODELS

S.D. INDEVAL. 2007 ACSDA Leadership Forum. PARTICIPANT LEVEL MODELS. Leonid Borgmann, Manager International Division. Indeval as MX CSD. Overview International Division. Depository Services. Safekeeping Models. Safekeeping. Two-tier Model. Multi-tier Model.

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PARTICIPANT LEVEL MODELS

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  1. S.D. INDEVAL 2007 ACSDA Leadership Forum PARTICIPANT LEVEL MODELS Leonid Borgmann, Manager International Division

  2. Indeval as MX CSD Overview International Division Depository Services Safekeeping Models Safekeeping Two-tier Model Multi-tier Model Account Structure Participant Level Account Types and Functions Agenda

  3. Indeval as MX CSD

  4. Overview International Division • 133 Ordinary Shares (129 US, 2 BME, 1 MSE, 1 LUX) • 88 ETF´s (82 US, 5 LSE, 1 TSX) • 93 ADR´s (Europe, Asia & Australia, Brazil, Venezuela) • 379 Corporate Bonds (US, EU) • 89 Government Bonds (US, Mexico, France, Germany, Brazil, Venezuela) • 103 Europesos • 84 Other (Warrants, MBS, CP, CMB, Structured Notes)

  5. Overview International Division 846.41% 883.60% 34.78% 12.51%

  6. Depository Services • Tax Services • No Tax Withholding for the domestic market • BO Breakdown for Foreign Securities (DTT) • Tax reclaim service • Corporate Actions • Interest/Redemption and Dividend (Cash/Shares) • Split/Reverse Split • Spin Off • Exchange Offers • Safekeeping

  7. Safekeeping • Physical Securities • Domestic Securities • High Trading Volumes • Immobilised/Dematerialised Securities • CSD • Book-Entry as transfer/creation of rights • MX Treasuries • Foreign Securities • Multi-tiered Intermediation • Cross-Border Settlements • Global Custodian Chain • Time Zone Problem • Operational Risk

  8. Safekeeping Models • Two-tier Model CSD P1 I2 P2 I1

  9. Safekeeping Models • Multi-tier Model CSD P1 Pn-1 Pn ... I1 I2 In-1 In

  10. PARTICIPANT OWN THIRD PARTY MAIN ADDITIONAL COLLATERAL MAIN ADDITIONAL COLLATERAL FOREIGN I. Safekeeping Models • Account Structure Participant Level

  11. Safekeeping Models • Account Types and Functions • Main Account • Omnibus Third-Parties/Own • Settlement Account • Additional Accounts • Institutional Investors (Trusts, Investment Funds, Pension Funds) • Security Lending • Foreign Investors • ADR/ADN Creation/Cancellation • Collateral Accounts • Securities Lending • Repurchase Agreements (Repo) • Margin Account

  12. 2007 ACSDA Leadership Forum S.D. INDEVAL S.A. de C.V.Mexican Central Securities Depository New York, October - 2007 lborgmann@indeval.com.mx

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