The Brazilian Clearing and Depository Corporation (CBLC) has signed a Memorandum of Understanding (MoU) with Euroclear SA/NV and another MOU with The Depository Trust & Clearing Corporation (DTCC), both addressing further developing of operational efficiency in Brazil, as well as pursuing a closer relationship to better address market opportunities and global challenges.
The purpose of the agreement with Euroclear SA/NV is to build and develop a co-operative relationship in securities clearing and settlement matters and to foster growth in Brazil's financial markets as well as those markets covered by the Euroclear group. Euroclear and CBLC aim to ease cross-border investment, as well as explore opportunities for cooperation in clearing and settlement operations.
Under the terms of the MoU between the DTCC and CBLC, the institutions aim at promoting regular meetings of their senior management and staff to increase mutual understanding and to exchange market updates, as well as to collaborate in opportunities for improving their working relationship and information sharing on business operating models.