The Depository Trust & Clearing Corporation (DTCC) of the US and Deposito Central de Valores (DCV) of Chile have entered into an agreement to expand both organizations' offerings and capabilities.

The agreement is expected to enable DCV and DTCC to take advantage of local market knowledge to develop broader offerings in Chile and throughout Latin America, while reducing risk and lowering costs.

DTCC president and chief operating officer William Aimetti said that Chile has one of Latin America’s strongest economies, and represents a strong and growing financial market in the Americas.

DCV CEO Fernando Yanez said that this working relationship will give DCV some strategic advantages in fulfilling its own mission of making the Chilean capital markets more efficient and more attractive to capital market growth.

“We look forward to leveraging the expertise, technology, scale and global reach of DTCC to assist in the growth of services for capital markets throughout Latin America,” Yanez said.