Nasdaq Tech Spotlight: Bolsa Electrónica de Chile
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In the latest Nasdaq Tech Spotlight, we highlight how Bolsa Electrónica de Chile (BEC) ’s technological upgrades can spur investment in the Latin American market. Juan Carlos Spencer, CEO of BEC, discusses how the exchange is leveraging Nasdaq technology to scale its business and provide the best quality of services to its customers.
The following is an English transcript, which has been lightly edited for clarity.
The Electronic Stock Exchange of Chile was born in 1989 as the first electronic stock exchange in Latin America. Additionally, I dare to say that it is the first startup that our country had.
Our exchange bases its value proposition on three verticals. The first vertical is the vertical of the exchange services. As a securities exchange, we trade all regulated financial instruments. The second vertical is the transaction of dollars, in which we are the undisputed leader. The third vertical is the market for Chilean products, in which we have an ownership interest and which is one dedicated to alternative assets.
I believe that in Latin America, our challenge is to attract investment, and in order to attract investment, you have to have clear rules of the game, and I believe that this is Chile’s great asset.
With technology development and new trends, everything is revolving around technology, which made us start looking at how to do a technology upgrade. And for this technological upgrade, we worked with our partner, Nasdaq, to explore new technologies.
The benefits we see from having the latest technology are higher velocity, increased cybersecurity and lower costs. Because with a move to the cloud, the cost of maintaining physical facilities decreases.
Our electronic stock exchange, as its name implies, has technology in its DNA. To be an electronic exchange, you need to have the best technology to provide the best quality of services to your customers, who are our brokers and issuers. And that’s why Nasdaq has provided us with technology that allows us to be at the forefront of the region.
