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Invest in Derivatives

Market Closed 04-25-2017 05:42 AM GMT -03:00


Derivatives


Santiago Exchange, with the participation and assistance of BM&FBOVESPA, has introduced its new derivatives market, which offers the entire market the possibility of trading investment and hedging instruments in Chile, in an open, regulated market.

The following derivatives will be traded on Santiago Exchange:

  • IPSA Futures, whose underlying asset is the Selective Stock Price Index (IPSA), Chile's main stock index.
  • Dollar Futures, whose underlying asset is the observed U.S. dollar/peso exchange rate, calculated by the Chilean Central Bank.

Liquidity Providers for Listed Derivatives

IPSA & IPSA Mini Futures: BCI Corredores de Bolsa.

Contacto: Gustavo Alarcon, Equity Director; Phone: +562 26928997; email: galarco@bci.cl


Regulations

  • General Regulations for Futures Markets ​
  • CCLV Operational Rules​
  • ​​​​​​​​​​​​​​​​​​​​​​

    FREQUENTLY ASKED QUESTIONS


    • What is a derivative?

      Derivatives are financial assets, whose main characteristic is that their market value is based on the price of another asset (i.e. they are financial instruments whose value depends on the value of an underlying asset). The underlying assets most used by the derivatives are stocks, stock indices, fixed-income instruments, exchange rates, interest rates and commodities, among others. 

    • What are the advantages of having a derivatives market?

      Some of the advantages of having a derivatives market are: 

      • Liquidity: As evidenced by more mature capital markets, a derivatives market generates an increase in market liquidity of the underlying assets. 

      • Investment Flow: The project represents a major boost for the local market, bringing our capital market not only to local investors, but also to a large number of foreign investors, through order routing to the derivatives markets. 

      • Regulation: Law 20,544 on Taxation of Derivatives, enacted in October 2011, defines the tax framework for the operation of structured derivatives markets, outlining that income generated by foreign investors is not subject to capital gains tax. 

      • Opportunities: Derivatives market instruments offer the chance to broaden the range of products and business opportunities to the different market institutions, both for investment and for hedging. 

      • Trust: The participation of the CCLV Central Counterparty ensures the compliance of transactions in the market, avoiding the financial costs associated with the use of lines between participants and eliminating counterparty credit risk. 

       

    • What is BM&FBOVESPA?

      BM&FBOVESPA is the acronym of a private, open company created in 2008 due to the integration of the São Paulo Stock Exchange (BOVESPA) and the Commodities and Futures Market (BM&F). 

       

      Bovespa operates as a trading center for shares, securities and contracts of financial assets, indices, interest rates, commodities and currencies, with future and immediate/spot settlement options. In Brazil, it has offices in São Paulo, Rio de Janeiro, Rio Grande do Sul, Paraná and Ceará. 

       

    • What is an underlying asset?

      In the options and futures market, an underlying asset is the financial asset (stocks, bonds, stock index or other financial asset) subject to a standard contract traded on the market. 

    • What is an investment portfolio?

      A portfolio, also known as an investment or securities portfolio, is a combination of financial assets in which one invests. An investment portfolio can consist of a combination of fixed-income instruments, equities, derivatives, etc. 

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