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Investor Relations

Market Closed 05-25-2017 08:34 AM GMT -04:00


 IBM and Chile´s Santiago Exchange to Deliver World´s First Securities Lending Blockchain Solution

 5/17/2017

Santiago, Chile – 17 May, 2017: IBM (NYSE: IBM) and Chile’s Santiago Exchange, the largest in the country, today announced a partnership to introduce Blockchain technology across the country’s financial sector. The agreement makes the Santiago Stock Exchange the first stock market in Latin America to apply IBM Blockchain Platform technology within its short selling system for Securities Lending solution.

Blockchain works as an immutable ledger that records transactions, allowing secure information exchange. Built by IBM and Chile’s Santiago Exchange, the solution is designed to help reduce errors, possible fraud, and processing time for each transaction, while also improving transaction management and lowering costs. In the case of the Santiago Exchange, the solution will result in significant time savings for the back-office processes.

"Santiago Exchange is a technologically advanced company, which provides the infrastructure and systems for all types of securities transactions, and their clearing and settlement. The Exchange also provides information services and management systems for intermediaries. Incorporating Blockchain into our business processes is in line with that purpose and positions us as a forerunner in the financial market," said Santiago Exchange CIO, Andrés Araya.

IBM Chile General Manager, Francisco Thiermann, highlighted the fact that Santiago Exchange is the first stock exchange in Latin America to implement the Securities Lending Blockchain solution. "Our agreement with Santiago Exchange marks a before and after in terms of innovation in the stock market. Santiago Exchange is a pioneer in its industry, and the Blockchain adoption establishes a transformational precedent in the financial market, not just in Chile but in the region and the world," he said.

The solution developed by IBM is based on the open source Linux Foundation’s Hyperledger Fabric. The solution is expected to be widely available to support multiple parties across the financial industry ecosystem this year.

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Frequently Asked Questions


  • What is the composition of the exchange’s Board of Directors?

    Santiago Exchange’s Board of Directors is currently composed of eleven members, which together elect a Chairman. The law specifically states that the board must be made up of at least five members, who may or may not be shareholders, and must hold elections annually, where members may be reelected. 

  • What information should I submit to apply for dual listing on Santiago Exchange, Venture?

    Companies listed on TSXV must send an application letter requesting the dual listing (see attached documents) and send it to the Santiago Exchange for registration. 

  • According to the law, what are the objectives of the exchange?

    According to article 38 of the Securities Market Law, stock exchanges are organizations that aim to provide their members with the necessary infrastructure to effectively carry out securities transactions through continuous public auction and to perform other intermediation services in accordance with the law. 

  • Which companies can access the Venture Market?

    Any issuer from TSXV can access the dual listing with Santiago Exchange, Venture. 

  • What is Santiago Exchange?

    Santiago Exchange is an exchange whose primary role is to provide buyers and sellers of securities a physical meeting place for them to trade through services provided by brokers. Santiago Exchange is a public company composed of 48 shares, and its operation is overseen by the Chilean Securities and Insurance Supervisor. 

  • What benefits does the Venture Market of Santiago Exchange offer venture capital companies?

    Santiago Exchange, Venture enables companies at an exploration stage to access a greater number of investors through its regional presence given by the participation of Santiago Exchange in MILA. In addition, Santiago Exchange, Venture has the support of the leading platform for financing mining companies at an exploration stage (TSXV), being a relevant factor for both companies and investors, to have the validation of such exchange. 

  • Where does Santiago Exchange operate?

    The exchange operates in a historical building in downtown Santiago, at the intersection of Bandera Street, the Union Club and Nueva York and La Bolsa streets. Its address is La Bolsa 64, Santiago. 

  • What are the benefits of listing the instruments in Chilean pesos?

    The values that are listed and traded in Chilean pesos on the Foreign Securities Market of Santiago Exchange will be cleared and settled in CCLV Central Counterparty, reducing counterparty risk of such operations. 

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