2
8::4 KOOUKG XEZNX\ 2 \KHGE D Oe| Klqkome} axni |fe ]DZM Auol Lemeihex =;' 8::4 =88 Mu}|niex Zxn|em|dno Zxnmeeldob} Oe| Klqkome} Ouihex na Zxnmeeldob}  Kinuo|}  Klqkomel Axni \ n ,<:':::'::; uz ; , 111'2=6'<82 ;:':::'::; ,<:':::'::: ;8 8=1'5=='26< 5':::'::; ;:':::'::: ;6 ;8='4:8'468 ;':::'::; 5':::'::: 54 ;84';61'4:1 5::'::; ;':::'::: =6 86'8:1'=;; 85:'::; 5::'::: <8 ;<'56;'846 ;::'::; 85:'::: 1: 4'146'24= 5:'::; ;::'::: <8 8'445'<81 85'::; 5:'::: 8= 6<5'64= ;:'::; 85'::: ;; ;16'116 : ;:'::: 4 81':62 Oe| Xemnqext 2 &;='44;'18;$* ,;';46'648'45< * Xemnqext na k}}e|} kol kzzxemdk|dno na leh|nx}— doqe}|ieo|} ka|ex |fe gdob lk|e eokhgel |fe |xu}|ee |n xezkt ]DZM d|} klqkome} zgu} do|exe}|/ Mno}d}|} na klqkome} anx kmmnuo|} na mu}|niex} &,611'61:'=15$ kol anx klidod}|xk|dno evzeo}e} &,==8':=8'564$/ Mgkdi} nqex |fe Gdid|} Na |fe inxe |fko 185';:: mgkdi} }k|d}el do mnizge|el nx }uh}|ko|dkggt mnizge|el mk}e} k} na Lemeihex =;' 8::4' k |n|kg na =5; rexe anx mk}f kol }emuxd|de} rfn}e qkgue rk} bxek|ex |fko |fe gdid|} na zxn|em|dno kaanxlel ht ]DZK/ \fe =5; mgkdi}' k oe| domxek}e na noe luxdob 8::4' xezxe}eo| ge}} |fko noe)|eo|f na noe zexmeo| na kgg mgkdi} }k|d}el/ \fe uo}k|d}el znx|dno na mgkdi}' ,<2/8 idggdno' domxek}el ,4::'::: luxdob 8::4/ \fe}e xeikdodob mgkdi} kzzxnvdik|e |fxee)|eo|f} na noe zexmeo| na |fe |n|kg qkgue na }emuxd|de} kol mk}f ld})  |xdhu|el anx kmmnuo|} na mu}|niex} do |fn}e mk }e}/ ]DZM Auol Klqkome} \ khge ; }fnr} |fk| |fe 4: leh|nx}' anx rfdmf oe| klqkome} na inxe |fko ,; idggdno fkqe heeo ikle axni  |fe ]DZM Auol' kmmnuo|el anx 41 zexmeo| na |fe |n|kg k lqkomel do kgg =88 mu}|niex zxn|em|dno zxnmeel) dob}/ \fe gkxbe}| oe| klqkome do k }dobge gd{udlk|dno d} ,111/2 idggdno do Hexokxl G/ Iklnaa Doqe}|ieo| ]emuxd|de} GGM/ \fd} evmeel} |fe oe| klqkome} do kgg na |fe n|fex zxnmeeldob} mnihdoel/ Do =; zxnmeeldob} ]DZM klqkomel ,;/:= hdggdno' nx 61 zexmeo| na oe| klqkome} axni |fe ]DZM Auol anx kgg zxnmeeldob}/ Oðiexn le Zxnmeldideo|n} Klegko|n} Oe|n} * Xemuzexkmdýo le km|dqn} t kzxemdkmdýo le gk} doqex}dnoe} leg leulnx le}zuä} le gk aemfk le xebd}|xn {ue ge zexid|dý kg |xu}|ee zkbkx gn} kqkome} &zxä}|kin}$ ië} do|exe}e} Mno}d}|e eo klegko|n} zkxk mueo|k} le mgdeo|e} &,611'61:'=15$ t znx bk}|n} le klidod}|xkmdýo &,==8':=8'564$/ f||z0..rrr/}dzm/nxb.zla.8::4%8:Kooukg%8:Xeznx|/zla Kooukg Xeznx| 8::4 ]emuxd|de} Doqe}|nx Zxn|em|dno Mnxznxk|dno ]uik} Klegko|klk} Klegko|n} Oe|n} leg Anoln leg ]DZM Ldmdeihxe =;' 8/:: =88 Zxnmeldideo|n} le Zxn|emmdýo k Mgdeo|e} Zëbdok 2 Xemu ex kmdýo Oe| k 

SIPC 2009 Annual Report - NET ADVANCES- notas en español

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8/8/2019 SIPC 2009 Annual Report - NET ADVANCES- notas en español

http://slidepdf.com/reader/full/sipc-2009-annual-report-net-advances-notas-en-espanol 1/18::4 KOOUKG XEZNX\  2

\KHGE D

Oe| Klqkome} axni |fe ]DZM AuolLemeihex =;' 8::4=88 Mu}|niex Zxn|em|dno Zxnmeeldob}

Oe| Klqkome}

Ouihex na

Zxnmeeldob}

 Kinuo|}

 Klqkomel

Axni \n

,<:':::'::; uz ; , 111'2=6'<82

;:':::'::; ,<:':::'::: ;8 8=1'5=='26<

5':::'::; ;:':::'::: ;6 ;8='4:8'468

;':::'::; 5':::'::: 54 ;84';61'4:1

5::'::; ;':::'::: =6 86'8:1'=;;

85:'::; 5::'::: <8 ;<'56;'846

;::'::; 85:'::: 1: 4'146'24=

5:'::; ;::'::: <8 8'445'<81

85'::; 5:'::: 8= 6<5'64=

;:'::; 85'::: ;; ;16'116

: ;:'::: 4 81':62

Oe| Xemnqext 2 &;='44;'18;$*

,;';46'648'45<†

* Xemnqext na k}}e|} kol kzzxemdk|dno na leh|nx}— doqe}|ieo|} ka|ex |fe gdob lk|e eokhgel |fe |xu}|ee |n xezkt]DZM d|} klqkome} zgu} do|exe}|/

† Mno}d}|} na klqkome} anx kmmnuo|} na mu}|niex} &,611'61:'=15$ kol anx klidod}|xk|dno evzeo}e} &,==8':=8'564$/

Mgkdi} nqex |fe Gdid|}Na |fe inxe |fko 185';:: mgkdi} }k|d}el do mnizge|el nx }uh}|ko|dkggt mnizge|el mk}e} k} na Lemeihex

=;' 8::4' k |n|kg na =5; rexe anx mk}f kol }emuxd|de} rfn}e qkgue rk} bxek|ex |fko |fe gdid|} na zxn|em|dno

kaanxlel ht ]DZK/

\fe =5; mgkdi}' k oe| domxek}e na noe luxdob 8::4' xezxe}eo| ge}} |fko noe)|eo|f na noe zexmeo| na kgg

mgkdi} }k|d}el/ \fe uo}k|d}el znx|dno na mgkdi}' ,<2/8 idggdno' domxek}el ,4::'::: luxdob 8::4/ \fe}e

xeikdodob mgkdi} kzzxnvdik|e |fxee)|eo|f} na noe zexmeo| na |fe |n|kg qkgue na }emuxd|de} kol mk}f ld})

 |xdhu|el anx kmmnuo|} na mu}|niex} do |fn}e mk}e}/

]DZM Auol Klqkome}\khge ; }fnr} |fk| |fe 4: leh|nx}' anx rfdmf oe| klqkome} na inxe |fko ,; idggdno fkqe heeo ikle axni

 |fe ]DZM Auol' kmmnuo|el anx 41 zexmeo| na |fe |n|kg klqkomel do kgg =88 mu}|niex zxn|em|dno zxnmeel)

dob}/ \fe gkxbe}| oe| klqkome do k }dobge gd{udlk|dno d} ,111/2 idggdno do Hexokxl G/ Iklnaa Doqe}|ieo|

]emuxd|de} GGM/ \fd} evmeel} |fe oe| klqkome} do kgg na |fe n|fex zxnmeeldob} mnihdoel/

Do =; zxnmeeldob} ]DZM klqkomel ,;/:= hdggdno' nx 61 zexmeo| na oe| klqkome} axni |fe ]DZM Auolanx kgg zxnmeeldob}/

Oðiexn le Zxnmeldideo|n} 

Klegko|n} Oe|n} 

* Xemuzexkmdýo le km|dqn} t kzxemdkmdýole gk} doqex}dnoe} le

leulnx le}zuä} le gk aemfk le xebd}|xn {ge zexid|dý kg |xu}|ee zkbkx gn} kqkome} &zxä}|kin}$ ië} do|exe}e} 

†Mno}d}|e eo klegko|n} zkxk mueo|k} le mgdeo|e} &,611'61:'=15$t znx bk}|n} le klidod}|xkmdýo &,==8':=8'564$/

f||z0..rrr/}dzm/nxb.zla.8::4%8:Kooukg%8:Xeznx|/zla

Kooukg Xeznx| 8::4]emuxd|de} Doqe}|nx Zxn|em|dno Mnxznxk|dno

]uik} Klegko|klk} 

Klegko|n} Oe|n} leg Anoleg ]DZM Ldmdeihxe =;' 8=88 Zxnmeldideo|n} le Zxn|emmdýo k Mgdeo|e} 

Zëbdok 2

Xemu exkmdýo Oe|k