I estimate we have 20 minutes for each principle on average IDB ACSDA Regional Public Good Support for Strengthening Compliance on a Regional Basis with the Global Principles for Financial Market Infrastructures Nassau, Bahamas April 11, 2018

Project Overview and Status: Group Coordination Colombia Deceval El Salvador Cedeval Bolivia EDV Paraguay BVPASA Panama LatinClear Costa Rica InterClear Jamaica JCSD East. Caribb. ECCSD Peru Cavali Dom. Rep Cevaldom Barbados BCSDI Uruguay BCU Guatemala CVN Bermuda BSD Uruguay BVM

Project Overview and Status: Group Coordination Benefiting CSDs Colombia Deceval Panama LatinClear Peru Cavali Uruguay BCU Uruguay BVM Barbados BCSDI Guatemala CVN Paraguay BVPASA Bermuda BSD East. Caribb. ECCSD Costa Rica InterClear El Salvador Cedeval Jamaica JCSD Bolivia EDV Dom. Rep Cevaldom Colombia SFC Panama SMV Peru Uruguay SSF -BCU Costa Rica SUGEVAL El Salvador SSF Jamaica FCS Bolivia ASFI Participating Regulators Argentina CVSA Chile DCV Mexico Indeval Contributing CSDs

Project Overview and Status: Group Coordination Steering Committee ACSDA IDB GCI

Project Overview and Status PFMI Workshop Panama, May 22-24 Self-Assessment Kick-off Final Reports Begin On-site Visits Begin 2017 2018 May Jun Jul Ago Sep Oct Nov Dec 2018 Feb Mar Apr May Jun Today Continuous Self-Assessment Support to CSDs Second Group Begins Second Group Completion Third Group Begins First Group Completion On-site Visits First Group Completion Disclosure Framework and Self-Assessment Reports Remediation Action Items

Project Overview and Status

On-Site Visits Group 1 Deceval – Colombia Latin Clear – Panama Cavali - Peru

I – Visitas Presenciales: I – Visitas Presenciales: On-Site Visits Group 1 BCU – Uruguay BVM – Uruguay I – Visitas Presenciales: I – Visitas Presenciales:

On-site Visits: Group 2 Cedeval – El Salvador InterClear – Costa Rica

On-site Visits: Group 2 Cevaldom – Dominican Rep. CVN - Guatemala

2 CSDs with no SSS Functions Main Findings 9 ACSDA Member FMIS 2 CSDs with no SSS Functions 7 CSDs with SSS Role 4 SSSs are DVP Model 1 3 SSSs are DVP Model 2

Main Findings Observed Broadly Observed Partly Observed

Main Findings Observed Broadly Observed Partly Observed Not Applicable

Main Findings Observed Broadly Observed Partly Observed Not Observed Not Applicable

Main Findings Observed Broadly Observed Partly Observed

Main Findings Observed Broadly Observed Partly Observed Not Observed

Issues Limited Resources Scope of Applicability (CSDs, SSSs and CCPs) Gradual implementation: considerations regarding each markets’ individual characteristics Regulatory Support Interpretation of the Principles

Next Steps Remediation Plan Periodic Review ACSDA Support Criticality, Complexity, Expense, Resource Availability Include any changes (regulatory, market, etc) Coordination with regulators and other stakeholders ACSDA Support Website Communication with IOSCO, IMF World Bank on Regional Progress Collective Consulting on Remediation plans