Bolsa De Comercio De Santiago · BCS:BOLSASTGO
Bolsa De Comercio De Santiago — Santiago Stock Exchange — Investor Presentation (September 2014)
33 slides from Bolsa De Comercio De Santiago's investor presentation, Sep 15, 2014
Slide 1: Santiago Stock Exchange (SSE) Chilean Capital Market 2014
Santiago Stock Exchange (SSE) Chilean Capital Market 2014
Slide 2: Agenda
Agenda 1. Chile: A place to invest 2. Chilean Capital Market 3. Santiago Stock Exchange 4. Next steps
Slide 3: Chile: A place to invest
Chile: A place to invest Population: 17.46 million (1) GDP: USD 269.9 billion (1) GDP per capita (PPP): USD 22,636 (1) GDP growth: 4.1% Unemployment: 5.7% Inflation: 3.0% Sovereign Rating: A+ ; AA- Trade Balance: USD 2,377 million Exports: USD 77,368 million Imports: USD 74,990 million Data as of De
Slide 4: Chile: GDP by sectors
Chile: A place to invest Communications 2.21% Restorants and hotels 1.85% Fishing 0.44% Chile: GDP by sectors Agriculture and forestry 3.00% Corporate services 15.70% Electricity, gas and water 3.10% Transport 4.24% Public administration 4.94% Financial services 5.18% Personal services 12.31% Housin
Slide 5: Agenda
Agenda 1. Chile: A place to invest 2. Chilean Capital Market 3. Santiago Stock Exchange 4. Next steps
Slide 6: Chilean Capital Market
Chilean Capital Market Fixed Income Equity Traded Equity New Market Market Cap. Listed Traded Country Amounts 2013 Issues 2013 Cap./ (USD) Companies Amounts 2013 (USD) (USD) GDP (USD) 6° 5° 6° 3° 4° 6° Argentina ($53 billion) (103 listed) ($3 billion) ($49 billion) ($0.09 billion) (11.2%) 1° 1° 1° 6
Slide 7: Chilean Institutional Investors
Chilean Institutional Investors Investment Stock Domestic International Total Institutional Investors Investment Investment Investment Pension Funds 93,781 68,943 162,724 Mutual Funds 35,146 3,871 39,017 Insurance Companies* 43,900 4,438 48,338 Investment Funds** 4,900 3,686 8,586 Total 177,727 80,9
Slide 8: Chilean Capital Market: Equity Taxes
Chilean Capital Market: Equity Taxes • Capital Gains: - High Liquidity Stocks or stocks with Market Maker: 0% taxes for domestic and foreign investors. - Low Liquidity Stocks: Domestic Investors: income tax (0-40%) and/or first category tax (20%) Foreign Investors: 35% - New issuers: 0% taxes for do
Slide 9: Agenda
Agenda 1. Chile: A place to invest 2. Chilean Capital Market 3. Santiago Stock Exchange 3.1 About us 3.2 Brokers 3.3 Indices 3.4 Products and Services 3.5 Connectivity 3.6 Clearing & Settlement 4. Next steps
Slide 10: About the Santiago Stock Exchange
About the Santiago 3.1 Stock Exchange • Created in 1893 • 31 Brokerage Houses • Market Cap: 265 Billion • Available Products: o Equities o ETF o Fixed Income Instruments o Money Market Instruments o Investment Funds / Mutual Funds o Futures o Foreign Instruments Data as of December 2013 • Subsidiary
Slide 11: Management
3.1 Management From left to right: Patricio Rojas Sharovsky, Chief Financial Officer - CFO Carlos Niedbalski Chacón, Chief Audit and Control Officer - CACO Andrés Araya Falcone, Chief Information Officer - CIO Juan Carlos Ponce Hidalgo, Chief Operating Officer - COO Nicolás Almazán Barros, Chief Res
Slide 12: Balance Sheet
3.1 Balance Sheet 2013 Others Total Current Assets 46.86 Listing 4% 6% Total Long-term Assets 44.85 Trading Services Total Assets 91.71 Data 32% Dissemination 7% 2013 Clearing and Total Current Liabilities Settlement 9.18 SSE´s Income 13% Total Long-term Liabilities 22.74 Total Equity 59.79 Total As
Slide 13: Santiago Stock Exchange: Issuers
Santiago Stock Exchange: Issuers Domestic Equities : 227 Foreign Equities : 79 Foreign Equities MILA: 277 Foreign ETF : 105 Foreign Open Funds : 214 Fixed Income : 146 Money Market : 58 Local Investment Funds : 117 Local Mutual Funds : 7 Most traded stocks 2013 Data as of December 2013
Slide 14: Santiago Stock Exchange: Market Share
Santiago Stock Exchange: Market Share SSE holds 97% of the total traded amounts in Chile as of December 2013 ESE VSE; ESE; VSE ESE; VSE; 10.25% 0.45% 5.51% 0.00% 0.18% 0.00% Fixed Money Equity Income Market SSE; SSE; SSE; 89.30% 94.49% 99.82% Data as of December 2013 SSE: Santiago Stock Exchange; VS
Slide 15: Brokers Market Share: Equity
Santiago Stock Exchange: Brokers Market Share Others DEUTSCHE 8.4% 2.3% LARRA PENTA 2.5% 18.3% SCOTIA 2.8% BICE 2.9% EUROAMERICA 3.1% MBI BTG 3.1% Equity 11.8% CORPCAP 3.6% TANNER 3.8% SECURITY SANTANDER 4.2% 9.4% MERRILL 4.6% IM TRUST BCI BANCHILE Data as of December 2013. Electronic order book. 4.
Slide 16: Brokers Market Share: Fixed Income
Santiago Stock Exchange: Brokers Market Share PENTA Others 6.9% BTG 2.0% BANESTADO 2.0% 19.0% EUROAMERICA 3.2% IM TRUST 3.8% CORPCAP 4.1% LARRA Fixed SANTANDER 4.3% Income 16.1% BCI 6.1% BANCHILE 8.0% BICE 12.9% Data as of December 2013. Electronic order book. BBVA 11.6%
Slide 17: Brokers Market Share: Money Market
Santiago Stock Exchange: Brokers Market Share PENTA Others 6.0% DEUTSCHE 1.9% 2.5% LARRA BANESTADO 2.9% 26.9% CORPCAP 3.5% SCOTIA 3.9% BICE 5.6% Money Market BCI 8.6% BBVA 15.5% SANTANDER 9.7% BANCHILE Data as of December 2013. Electronic order book. 13.0%
Slide 18: Total Market traded on SSE
Total Market traded on SSE Investment Equity 10% Quota Funds • Equities (USD 173.6 MM *) CFI; 0.23% Fixed Income; 26%% • Fixed Income (USD 460 MM*) • Money Market (USD 1136,5 MM*) • Investment Quota Fund (USD 4.17 MM*) Money Market; 64% Data as of 2013 * Daily average 2013
Slide 19: Evolution in Equity Market
Santiago Stock Exchange: Evolution in Equity Market 2002 2013 Traded Amounts USD 3.5 B USD 44.7 B 1.177% Market Cap. USD 49.9 B USD 265 B 431 % Market Cap. / GDP 70% 98.2% 40% Traded Amounts / Market Cap. 7.04% 16.9% 140 % Price / Earnings 20.6 20.1 -2.4% Book Value 1.09 1.64 50.4% Market Concentrat
Slide 20: Stock Market Indices
Santiago Stock Exchange: 3.3 Stock Market Indices Index 2002 2013 Variation • IPSA: blue chip index (top 40 most traded stocks) IPSA 1,000.0 3,699.19 270% • IGPA: broad stock index (102 stocks) • INTER-10: top 10 most traded stocks / ADRs IGPA 5,019.6 18,227.05 263% INTER-10 1,142.8 4,538.29 297% Ín
Slide 21: Equity Indices (by sector)
Santiago Stock Exchange: Equity Indices (by sector) Index 2006 2013 Variation Banking 2,693.22 6,151.49 128% Commodities 2,693.22 3,307.94 23% Const. & Real State 2,693.22 4,724.01 75% Food & Beverage 2,693.22 4,483.00 66% Industrial 2,693.22 2,943.50 9% Retail 2,693.22 4,355.48 62% Utilities 2,693.
Slide 22: SSE: Products and Services
3.4 SSE: Products and Services Order Routing Trading Information Clearing & Settlement Back Office Equities, Inv. Funds, Mutual Funds, ETF Fixed Income Money Market Futures OTC market OTC market
Slide 23: SSE: Products and Services
SSE: Products and Services Trade For Traders of trading firms or institutional Investors. The Trade Work Station allows to quote and trade Equities, Work Fixed Income, Money Markets and Currency. Also includes online data, monitoring and client management, Station amongst others. Financial Access to
Slide 24: SSE: Products and Services
SSE: Products and Services Real Time Data of the Equity Market: it includes Prices, Bid & Ask, Market Depth, Indices and Transactions. Market Market Data Daa All based on FIX 4.4 technology. Service that enables our clients to have a direct connection to our Trading Gateway. Their servers can be Co-
Slide 25: DMA Connectivity to SSE
3.5 DMA Connectivity to SSE NETWORK
Slide 26: CCLV: Clearing and Settlement
3.6 CCLV: Clearing and Settlement • CCLV is subsidiary company of Santiago Stock Exchange (97.27% owned by SSE). • Operations begun on September 1st, 2010. • Manages two clearing and settlement systems: - Central Counterparty: for Equity Markets and Derivatives. - Securities Clearing House: Bonds, M
Slide 27: Agenda
Agenda 1. Chile: A place to invest 2. Chilean Capital Market 3. Santiago Stock Exchange 4. Next steps: 4.1 Derivatives 4.2 Santiago Stock Exchange, Venture 4.3 New Fixed Income Trading Platform 4.4 MILA
Slide 28: Next Steps: Derivatives market
Next Steps: Derivatives market • Santiago Stock Exchange will launch the first Derivatives Market in Chile. • In this market, local and foreign investors will be available to trade standardized future contracts based on Equity indices, Currency and Fixed income assets. • These contracts will be sett
Slide 29: Next Steps: Venture Market
Next Steps: Bolsa de Santiago, Venture Market • The potential growth of venture capital companies, mainly from the mining sector, have generated a consensus between private and public stakeholders on the need to bring the stock market to finance this segment. • Santiago Stock Exchange is working wit
Slide 30: Next Steps: New Fixed Income Trading Platform
Next Steps: New Fixed Income Trading Platform • In its ongoing challenge to develop the market, Santiago Stock Exchange is working on the migration of the negotiation systems for Money Market and Fixed Income Instruments to the JAVA FX platform (Desktop HT) • Main functions: - Incorporation of tradi
Slide 31: Next Steps: MILA
Next Steps: MILA • Now that the first phase of MILA, which involved the connection of both the Exchanges and Depositaries of Chile, Colombia and Peru has been accomplished, a new strategic planning has been defined focused on developing this initiative, that will allow the generation of added value
Slide 32: Contact and Information
Contact and Information Santiago Stock Exchange Foreign Affairs Phone +(56 2) 2 399 38 22 – 2 399 38 95 Email: rrii@bolsadesantiago.com Disclaimer The content of this presentation is for general information purposes only and does not constitute advice. Santiago Stock Exchange (SSE) tries to provide
Slide 33: www.bolsadesantiago.com
www.bolsadesantiago.com > f] /bolsadesantiago f . iv | @bolsadesantiago Bolsa Comercio Ss
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