Santiago Stock Exchange
Encyclopedia
The Santiago Stock Exchange (SSE) , founded on November 27, 1893, is Chile
's dominant stock exchange
.
, bonds
, investment funds, stock options, futures
, gold
and silver
coins minted by the Banco Central de Chile, and US dollars on Telepregon, its electronic platform. The only floor trading
conducted is the share market, concurrent with screen trading. Settlement for shares is T+2. The stock exchange works every day of the week, except weekends and financial holidays. The Board of Directors determines the schedule, and it generally is from 09:30 AM to 04:30 PM in winter and 05:30 in summer.
The General Stock Price Index (Indice General de Precios de Acciones, or IGPA) is a market capitalization
-weighted index that measures price variations of the majority of the exchange's listed stocks, classified by sectors according to its activity and revised annually. The index was developed with a base level of 100 as of December 30, 1980.
The Selective Stock Price Index (Indice de Precios Selectivo de Acciones, or IPSA
) is composed of the 40 most heavily traded stocks and revised quarterly.
The Inter-10 Index is a volume weighted index of the 10 main Chilean stocks listed in foreign markets through ADRs; its stocks are selected from the IPSA and is revised quarterly. Futures
are traded on the IPSA and the U.S. dollar.
Chile
Chile ,officially the Republic of Chile , is a country in South America occupying a long, narrow coastal strip between the Andes mountains to the east and the Pacific Ocean to the west. It borders Peru to the north, Bolivia to the northeast, Argentina to the east, and the Drake Passage in the far...
's dominant stock exchange
Stock exchange
A stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and...
.
Operations and Indices
The exchange trades in stocksStocks
Stocks are devices used in the medieval and colonial American times as a form of physical punishment involving public humiliation. The stocks partially immobilized its victims and they were often exposed in a public place such as the site of a market to the scorn of those who passed by...
, bonds
Bond (finance)
In finance, a bond is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest to use and/or to repay the principal at a later date, termed maturity...
, investment funds, stock options, futures
Futures contract
In finance, a futures contract is a standardized contract between two parties to exchange a specified asset of standardized quantity and quality for a price agreed today with delivery occurring at a specified future date, the delivery date. The contracts are traded on a futures exchange...
, gold
Gold
Gold is a chemical element with the symbol Au and an atomic number of 79. Gold is a dense, soft, shiny, malleable and ductile metal. Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. Chemically, gold is a...
and silver
Silver
Silver is a metallic chemical element with the chemical symbol Ag and atomic number 47. A soft, white, lustrous transition metal, it has the highest electrical conductivity of any element and the highest thermal conductivity of any metal...
coins minted by the Banco Central de Chile, and US dollars on Telepregon, its electronic platform. The only floor trading
Floor trading
Floor trading is where traders or stock brokers meet at a specific venue referred to as a trading floor or pit to buy and sell financial instruments using open outcry method to communicate which each other. These venues are typically stock exchanges or futures exchanges and transactions are...
conducted is the share market, concurrent with screen trading. Settlement for shares is T+2. The stock exchange works every day of the week, except weekends and financial holidays. The Board of Directors determines the schedule, and it generally is from 09:30 AM to 04:30 PM in winter and 05:30 in summer.
Indices
Three stock market indices are published.The General Stock Price Index (Indice General de Precios de Acciones, or IGPA) is a market capitalization
Market capitalization
Market capitalization is a measurement of the value of the ownership interest that shareholders hold in a business enterprise. It is equal to the share price times the number of shares outstanding of a publicly traded company...
-weighted index that measures price variations of the majority of the exchange's listed stocks, classified by sectors according to its activity and revised annually. The index was developed with a base level of 100 as of December 30, 1980.
The Selective Stock Price Index (Indice de Precios Selectivo de Acciones, or IPSA
Indice de Precio Selectivo de Acciones
The Indice de Precio Selectivo de Acciones is a stock market index composed of the 40 stocks with the highest average annual trading volume in the Santiago Stock Exchange . On the last trading day of the year, the index is re-based back to 1000...
) is composed of the 40 most heavily traded stocks and revised quarterly.
The Inter-10 Index is a volume weighted index of the 10 main Chilean stocks listed in foreign markets through ADRs; its stocks are selected from the IPSA and is revised quarterly. Futures
Futures contract
In finance, a futures contract is a standardized contract between two parties to exchange a specified asset of standardized quantity and quality for a price agreed today with delivery occurring at a specified future date, the delivery date. The contracts are traded on a futures exchange...
are traded on the IPSA and the U.S. dollar.
See also
- Bolsa Electrónica de Chile (Santiago Electronic Stock Exchange)
- List of stock exchanges
- List of American stock exchanges