Through the process of clearing and settlement, the
CCV through their systems, identify the Pending Obligations in cash and
securities that can be cleared, considering those securities which are the same
type and number.
The CCV will incorporate to the clearing process; all the obligations that
appear on their systems with the character of pending with the same date of
Once cleared all the obligations in terms of this section, the remaining cash
and securities derived from such clearing will remain the character of Pending
Obligations and Settlement will take place on the same day that should be
performed according to the operations that gave origin, however, the clearing
process will continue under the terms established by the Handbook.
Operations that CCV consider as Registered
process will be subject to clearing process if they are liquid, although the
settlement date is different.
CCV will determine by the procedures, the Pending Obligations and / or failed
obligations, by issuing series and inform them, in the frequency and schedules
that will be set to Manual, the following:
I. The Securities and cash obligations extinguished
through the process of clearing;
II. The differentials in cash resulting from the different concerted
prices of the Pending and failed Obligations, and;
III. The Pending and Failed Obligations in cash and securities subject
to the mode of delivery versus payment, indicating to the members that
Liquidators have the right to receive, in order to incorporate them in the Settlement