Euroclear and CBLC, the Brazilian Clearing and Depository Corporation, have agreed to develop a securities clearing and settlement relationship, with the aim of easing cross border investment.
Gilberto Mifano, Chief Executive Officer of CBLC, commented: "We trust this agreement will play an important role in further developing operational efficiency in Brazil. It also responds to the growing appeal of Brazilian securities to foreign investors."
The agreement includes initiatives on data exchange for the improvement of clearing and settlement systems, including statistics, market updates and business operating models. It also includes cross-entity training programs and joint studies on topics related to securities clearing and settlement operations.
