InterClear Central de Valores S.A. is an entity that provides book entry and security administration services to the participating entitites of the Costa Rica Financial System. The company was founded in 2015 and is supervised by the General Superintendency of Securities of Costa Rica (SUGEVAL, as per the Spanish acronym) under the Securities Market Regulatory Law (Law No. 7732).
This Law defines that the representation of securities issues in Costa Rica must be done through electronic book entries and empowers the Securities Clearing House and the Central Bank of Costa Rica to exercise these functions.
The Securities Clearing House has competence for any type of instrument that is issued, while the Central Bank is limited to the state debt.
The organized securities market in Costa Rica started operations in 1976. For years, the National Securities Exchange Group was the sole provider of infrastructure services, which it has carried out through three companies:
a) The Nacional Securities Exchange for negotiation and settlement infraestructure services.
b) CEVAL for centralized security deposit services represented by macro securities.
c) Central American Technologies (CAM-X) for transactional computer services, development and distribution of technological applications and complementary computer services.
The legal framework establishes that in order to exercise the book-entry activity, it is necessary to have a corporate structure that allows the Exchange to participate with a maximum of 40% of the capital and financial market participantes in an equal manner for the remaining 60%.
The legal mandates seek to achieve the stregthening of infraestructure services so that they are able to comply with international standards and promote the development of the Costa Rican capital market. From this initiative was born InterClear, which is the only entity in Costa Rica capable of providing the book entry and custody services in compliance with the conditions set out by Costa Rican Law and International Standards.
Value and transparency for the financial market is part of the commitment and added value that InterClear transmits through the services it provides.
Achieve a more diversified, deep, massive and internationally integrated capital market, making the volume traded by the private sector (non-government) relevant and sustainable in the long term.
Lead the development of the capital market through world-class platforms, processes and infrastructure to effectively contribute to economic growth and sustainable development in the region.
A modern organization with knowledge, experience, technology and innovation capacity to lead the capital market in the region.
Our institutional values