Alesandro de los Santos

Past Awards

Franz Edelman Award: Winner(s)
Winning material: INDEVAL Develops a New Operating and Settlement System Using Operations Research

Indeval, the Mexican Central Securities Depository for all financial securities, manages Dalí, the securities settlement system (SSS) that settles securities operations averaging over $250 billion daily, more than 70% of the value settled in the Mexican payments system. In 2005, Indeval and its partners began implementing Dalí, a safer, more reliable, and more efficient SSS. The core of Dalí is an operations-research-based engine that is executed automatically and offers a continuous and secure operation, ensuring that settlement is irreversible. Now many transactions that would remain pending if processed individually are settled together, thus reducing liquidity requirements dramatically—by 52% in cash and 26% in securities. Indeval’s SSS enhances and strengthens Mexico’s financial infrastructure.

Access the winning project’s companion paper