DEFINITION of Santiago Stock Exchange (SSE) .SN
The Santiago Stock Exchange is the premier stock exchange of Chile. Located in Santiago, the exchange trades stocks, bonds, investment funds, derivatives and gold and silver Chilean coins. It also has an electronic trading platform called Telepregon.
BREAKING DOWN Santiago Stock Exchange (SSE) .SN
The Santiago Stock Exchange was founded in 1893. Currently it operates from 9:30am to 4pm in the winter and stays open until 5pm in the summer. The exchange has several markets which trade in equities, money market instruments, fixed income securities, exchange-traded funds (ETFs), derivatives and foreign securities.
The Santiago Stock Exchange’s stated mission is to provide exemplary service for the growth of Chile’s securities market. The exchange also holds itself to the following pillars: excellent service, innovation, and transparency and sustainability. It aims to provide trust, efficiency and security to its customers.
The Santiago Stock Exchange is a member of both the Iberoamerican Federation of Exchanges (since 1973) and the World Federation of Stock Exchanges (since 1991). The exchange has received numerous acknowledgements and awards, such as the "Infrastructure and Technology CETIUC 2009" award from the Pontifical Catholic University of Chile (2009), the "Best Business Initiatives 2010" award from the financial newspaper Diario Financiero and being voted the "Best Stock Exchange in Latin America" by the financial magazine Euromoney (2014).
History of the Santiago Stock Exchange
1893: The Santiago Stock Exchange is founded.
1913: Construction begins the exchange’s building, which is still where the exchange is housed today.
1958: The General Stock Price Index (IGPA) is created.
1973: The Santiago Stock Exchange is a founding member of the Latin American Federation of Exchanges (FIAB).
1977: The Selective Stock Price Index (IPSA) is created.
1988-1989: The Telepregon system launches electronic trading of stocks and debt instruments.
1990: Chilean companies start trading in international markets.
1991: The exchange becomes a member of the World Federation of Exchanges (WFE).
2000: The exchange initiates the Foreign Market for the listing and trading of foreign securities.
2012: The exchange concludes the bidding process for the IPSA, IGPA and INTER-10 indices, which creates ETFs in Chile.