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Invest in Equity

Market Closed 05-25-2017 08:35 AM GMT -04:00


Exchange Traded Funds - ETF


ETFs are funds that track the performance of an index. They are composed of a basket of securities, and they operate like stocks and trade on the same trading session.

    ETF Indices of Santiago Exchange

  • The IPSA ETF is the first ETF that tracks a Santiago Exchange index, specifically the Selective Stock Price Index, which includes the 40 stocks with the greatest market presence. Banco Itaú administers this ETF with the ItNowIPSA under the symbol CFMITNIPSA.
  • Get more information on this ETFs visiting the website of the fund managers here or click on the "Stock Summary" here
  • It now! from ITAÚ Chile AGF S.A. CFMITNIPSA
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Primary Market

Shares of ETF indices of Santiago Exchange can be created or redeemed through an OTC Primary Market System, developed by the exchange.​​​

Only authorized agents may hold these records in their name or the name of third party investors (other brokers). The created or redeemed basket of ETF shares represents the minimum, referential lot during the day.​

Agents Authorized to Operate in the Primary Market

  • Larrain Vial S.A. Corredora de Bolsa
  • BCI Corredor de Bolsa S.A
  • ITAÚ BBA Corredor de Bolsa Limitada
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    Other ETFs registered on Santiago Exchange

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    FREQUENTLY ASKED QUESTIONS


    • What parties are involved in transactions with ETFs?

      The parties involved in transactions with ETFs are: 

       

      Exchange: provides the platform for listing and trading the fund. 

       

      Fund manager: responsible for managing the fund and replicating the performance of the benchmark asset, as well as creating and redeeming the ETF shares. 

       

      Authorized agent: agent that can create and destroy ETF shares and minimum lots of ETFs, interacting directly with the fund manager. 

       

      Market maker: broker who plays an important role by providing liquidity to a financial product through the daily buying and selling of shares. Most of the time it is also an authorized agent. 

       

    • In what currency do foreign securities trade?

      According to the rules governing the Foreign Market of Santiago Exchange, securities of foreign issuers can be listed and settled in dollars or Chilean pesos. The issuer or its sponsor defines the foreign instruments to be traded in pesos. 

    • What is an index?

      Indices are an average of the prices of a portfolio of shares representing a market, calculated as the weighted average of each stock’s market capitalization. Indices provide an overview of market behavior and serve as a benchmark to compare the performance of different financial instruments. 

    • What is the primary market?

      The primary market is the market in which financial assets are issued and sold for the first time. Once issued, they can be traded in the secondary market. These securities are issued, for example, by the government, the Chilean Central Bank, banks and financial institutions, mutual funds, corporations and other debt issuers. 

    • What does return refer to?

      Return is an indicator that measures economic gain. It is measured by comparing the current value of assets to the value of the economic resources used to obtain them. 

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