Dominican Republic and Chile
Press Release

Santiago Stock Exchange signs agreement to transfer technology to and obtain stake in Dominican Republic counterpart

Bnamericas Published: Thursday, August 12, 2021

PRESS RELEASE from Santiago Stock Exchange

August 11, 2021

(Please note that this is a machine translation)

The Santiago Stock Exchange today signed an agreement with its counterpart in the Dominican Republic (BVRD), through which it becomes the technological operator of the equity and fixed income market, and a strategic partner to collaborate with the development of the equity market. values, based on years of experience being the main player in the Chilean market. The agreement also considers the future income to the property of the BVRD with a percentage of around 6%.

The signing ceremony of the agreement was held today jointly from the Government Palace of the Dominican Republic and the Wheel Room of the Santiago Stock Exchange, in which the President of that country, Luis Abinader, and the presidents of both places participated. stock exchange, Juan Andrés Camus and Freddy Domínguez, along with their respective management teams.

During the meeting, Camus highlighted the relevance of this step. “We are very excited to be strategic partners of the Dominican Republic Stock Exchange, through this project that we started today and that will allow us to transfer part of our experience in the development of the capital market, as well as the sophisticated and first-rate technology that we have developed in our Stock Exchange ”, he said.

The association, meanwhile, will be finalized once the implementation of the electronic trading platforms for the Dominican financial market is completed and once the technological renewal stage is completed, which will be extended at the end of this year. The BVRD will acquire a right to use the trading platforms in perpetuity and the Santiago Stock Exchange, meanwhile, will provide the support and maintenance of its infrastructure, thus transferring the highest standards of services for market development.

This milestone is part of the strategic plan for the country's main stock market. “Being a member of the BVRD is a significant step in terms of integration. As the Santiago Stock Exchange, we firmly believe in the value of markets as engines of growth for the countries and our region. To this is added our character as a technology company, which is at the service of a stock market that grows and develops in a transparent and sustainable way, being competitive, efficient, easily accessible, with high connectivity and low response times ”, assured Camus .

In addition to this association, the Santiago Stock Exchange was also a promoter of integration through the Integrated Latin American Market, MILA, together with Mexico, Colombia and Peru. "We look at the long term and see that integration is necessary to achieve greater competitiveness against global players," he explained.

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