Chile: Commodities/Derivatives/Stock Exchanges

Today, the Central Bank of Chile (the "Central Bank") incorporated a new Chapter III.D.2 to its Financial Regulations Compendium, which contains provisions applicable to the acknowledgement and regulation of master agreements for bilateral derivatives, where one of the parties is a bank established in Chile or an institutional investor (the "Derivative Agreements").

The Central Bank of Chile has posted for comments a draft regulation for the settlement of derivative contracts entered into under any of the Master Agreements approved thereby, should certain events affecting the solvency of one of the parties thereto occur.

Last Monday April 12, the Santiago's Stock Exchange ("Bolsa de Santiago") demutualization was implemented.