Banco del Estado de Chile goes live on Edgewater Markets’ trading platform

Edgewater Markets announced that top tier bank Banco del Estado de Chile has gone live on Edgewater’s new trading platform, leveraging Edgewater Markets software, EdgeFXLatam. The platform provides Banco del Estado de Chile with customized branded solution for its clients, traders and sales teams, while preserving internal workflows, algorithms and hedging strategies.

Banco Santander-Chile Shares up 5.7%

Shares of Banco Santander-Chile shot up 5.7% during mid-day trading on Wednesday. The company traded as high as $14.92 and last traded at $14.91. 335,246 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 514,716 shares. JPMorgan Chase & Co. upgraded shares of Banco Santander-Chile from a “neutral” to an “overweight” rating. TheStreet downgraded shares of Banco Santander-Chile from a “c” to a “d+” rating. Zacks Investment Research downgraded shares of Banco Santander-Chile from a “hold” to a “sell” rating.

Chile’s pension funds join global gold ETP rush

Chilean pension funds have been given the go-ahead by the country’s financial regulator to invest in gold exchange traded products for the first time. The relaxation is part of a brace of reforms in Latin America, alongside Brazil’s decision to allow cross listings of overseas exchange traded funds in the form of depositary receipts, that could help breathe new life into the region’s stuttering ETF industry.

Meeting decarbonization goals by 2050 would add $31bn to Chile’s economy

Last April, the Government presented to the UN Climate Change the update of the Nationally Determined Contributions (NDC) to comply with the Paris Agreement, where the main goal is to reduce emissions until achieving carbon neutrality by 2050. In this context, the World Bank prepared a study to analyze the macroeconomic effects of the implementation of the decarbonization plan, which concludes that meeting the goal will allow Chile to increase the level of potential Gross Domestic Product (GDP) by 4.4%, which would mean adding $31 billion to the economy.

AquaChile seeks financial restructure after $245 mn capital increase

AquaChile has called an extraordinary shareholders meeting for 29 October to vote on a $245 million capital increase and to realign the financial structure to incorporate companies acquired in 2018. Chile’s salmon sector saw significant consolidation in 2018, with national food giant Agrosuper buying 67% of AquaChile in an $850 million deal. The same day that deal was announced, AquaChile acquired Salmones Magallanes and Pesquera Eden for $255 million.