Facing imminent closure: Chile's oldest bag calls for "reorienting" | National



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Soraya Apara, president of the Valparaíso Stock Exchange, last week asked the Commission des Marchés Financiers (CMF) two years to regularize the situation of the institution which could be closed in not respecting the minimum number of runners in operation. During this period, it will try to reorient itself as a stock exchange in which technological SMEs are capitalized.

The situation has deteriorated on the historic stock market, which has existed for more than 100 years, following the scandal of its former director Gabriel Urenda. cancellation of brokerage Intervalores.

In contrast, another such company was canceled by the CMF for failing to comply with the requirement to operate in more than one year. Although there are six registered brokers in practice only two work although the minimum is 10.

The CMF may close the stock market as of September 21st ] for this violation. For last week, Apara sent a letter, according to El Mercurio, asking for two years of thanks for saving the stock market from "its impending closure".

"The future of the oldest stock market in Chile depends on a decision that is more political than technical," said Arie Gelfenstein, chief executive of the stock market, El Mercurio.

The text sent to the CMF indicates that the problems of the Stock Exchange of Valparaiso are due to the monopolistic practices of his counterpart in Santiago because that does not allow the operations interbolsa, and that in the requested time it would be refocused for technological SMEs to be capitalized. 19659007] (function (d, s, id) {
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