Implementation of the new exchange information system for clearing account operations.

Bank of the Republic of Colombia has provided that in virtue of the gradual implementation of the “New Exchange Information System”, any person (natural or legal) who is the holder of Compensation Accounts1 and who uses Form (F102) to report movements with the data of all exchange operations and internal operations that are channeled through the clearing account, relying on the use of the Exchange Statistical System (SEC), must carry out said procedure through the New Exchange Information System, starting in October 2023. 

It is important to mention that this new system will allow sending information through online electronic mechanisms or through the presentation of Extensible Markup Language (XML) files; In both cases, Bank of the Republic of Colombia indicates the need to create an user, without the procedure or date for the creation of users for the Clearing Accounts module having yet been notified; clarifying that those who currently have a SEC user for the transmission of International Investment information may use it.

Finally, keep in mind that, if the existing user corresponds to the Legal Representative of the company and you want to delegate the process of periodic account transmission to one of your workers, it is necessary to authenticate the main user in the system and generate a connection link assigning the possibility of account transmission.

Andres Barahona

Ecovis Colombia S.A.S.