IBERCLEAR is the Spanish Central Securities Depository which is in charge of both the Register of Securities, held in book-entry form, and the Clearing & Settlement of all trades from the Spanish Stock Exchanges, the Public Debt Market, the AIAF Fixed Income Market, and Latibex - the Latin American stock exchange denominated in Euros. To achieve this, IBERCLEAR uses 2 Technical platforms - SCLV and CADE, which allows Participants to benefit from technical solutions, such as a high level of automated procedures and a high grade connection to IBERCLEAR.