The Special Settlement Account (CEL) is maintained under the ownership of the investor and is directly linked to the Participant. Through the CEL it is possible to settle the investor’s obligation with the B3 Clearinghouse without the need to compose the Participant’s financial flow. Settlement occurs through an intermediary window, before the regular window, to maintain the chain of responsibilities and the relationship between the Full Trading Participant (PNP), Trading Participant (PN) and the end client.
