Francisco Thiermann

“Our agreement with Santiago Exchange marks another new era of innovation in the stock market. Santiago Exchange is a pioneer in its industry, and the Blockchain adoption establishes a transformational precedent in the financial market, not just in Chile but in this region and the world. Santiago Exchange is the first stock exchange in Latin America to implement a securities lending Blockchain solution.”

Francisco Thiermann,
General Manager,
IBM Chile

IBM and Chile's Santiago Exchange have announced a partnership to introduce Blockchain technology across the country's financial sector. The agreement makes the Santiago Exchange the first stock market in Latin America to apply IBM Blockchain technology within its short-selling system for securities lending.

Blockchain works as an immutable ledger that records transactions, allowing secure information exchange. Built by IBM and Chile's Santiago Exchange, the solution is designed to help reduce errors, possible frauds, and processing time for each transaction, while also improving transaction management and lowering costs. In the case of Santiago Exchange, the solution will result in significant time savings for back-office processes.


 

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