The Santiago Stock Exchange (SSE) (Bolsa de Comercio de Santiago) today announced a strategic partnership with StreamBase Systems to provide algorithmic trading tools for the Chilean market.
StreamBase CEP will be integrated into SSE's electronic trading platform, Telepregon, offering local brokers advanced order execution algorithms.
"We chose StreamBase as a partner for their rapid developer environment StreamBase Studio in addition to their extensive connectivity options," said Andrés Araya Falcone, CIO at the Santiago Stock Exchange. "StreamBase's graphical development environment allows us to easily provide software as a service to local brokers and other market participants for building their own algorithms. The Chilean market is still at an early stage of tremendous growth, and it is critical to us as an exchange to bring in the best technology available to our local market."
Mark Palmer, CEO of StreamBase said: "We are pleased to be the technology of choice for the Santiago Stock Exchange to facilitate the rapid development of algorithmic trading in the Chilean market."
Danielle Tierney, Senior Analyst at AITE Group commented, "As the region's third largest market after Mexico and Brazil, Chile is an important Latin American market with a history of strong performance based on solid fundamentals. The Santiago Stock Exchange is also making significant progress in the development of its trading infrastructure to facilitate the expansion of investment opportunities. SSE's participation in the MILA initiative and its efforts to support growth in electronic trading are only the beginning of many promising things to come."