The SVS and the CMM organized the workshop “Trends in Monitoring and Surveillance of Financial Markets”, to be conscious that the financial markets turn every time more complex, and to provide an effective control and to apply the law facing the misconducts, helping supervisors to strengthen their own capacities. In this workshop there took part national and foreign experts with the intention of presenting and discussing the last techniques, the challenges and new developments in the areas of control and surveillance of the financial markets.
This one is the first activity realized in the frame of an agreement signed in September 2009 between the CMM and the SVS. Among the audience were members of the Commodity exchange of Santiago and Valparaiso, Electronic exchange, LVA Indices and of the Regulatory Agency, as well as researchers of the CMM.
“We have developed this first workshop that tries to see which is the condition in the matters of financial supervision and for it we have invited a very important group of colleagues of different parts of the world,” commented the Superintendent Guillermo Larrain. “The idea is find the bests standards for supervision of markets which are every day more complexes, more dynamic and need that these alliances between the University and Government get deeper and could give benefits for the best functioning of the markets. “
Among the foreign speakers there were: Sergio Schreidner of the Commission of Movable Values of Brazil, Mónica Rivas of the National Commission of the Market and Values of Spain, Ana Maria Prieto del Autorregulator of the Stock market of Colombia, Pedro Diez of the Mexican Stock exchange of Values, Ulrich Horst of the University of Humbold and of the Deutsche Bank, and Jonathan Sokobin, Deputy director and Executive Manager of the Division of Risks, Strategy and Financial Innovation of USA.
A growing market
Some of the national exhibitors, was the Prof. Joaquín Fontbona, researcher of the CMM, who presented a quantitative approach for the supervision of the national market. The academician made clear that the average of daily operations in Chile has grown from 2004, with exception of 2008, but the average number of shares for transaction has been reduced.
In his intervention, the Prof. Fontbona exposed the cases of D&S and it merger with Falabella, and Besalco for the possible use of privileged information in the sale of its shares. In the matter, and for future researches, the researcher emphasized the need to rely on an identification and classification of the stocks according to the characteristics of liquidity, free float, trading frequency, economic activity, etc. In addition, he expressed, the importance of understand the potential impact of the information usage in each stock-feature.
More information about this workshop in : http://market_surveillance.cmm.uchile.cl/
