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 settlement.

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;

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 Process.



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