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Chile financial markets commission closes Valparaíso's stock exchange

Chile's financial regulator CMF has revoked the license of the country's oldest stock exchange, Bolsa de Valparaíso, as it failed to reach the minimum number of operating brokers, Diario Financiero reported.

The financial markets commission's ruling reportedly comes after two brokerage firms have left the stock exchange, which is based in Valparaíso, Chile's second biggest city, leaving only two brokers operating, out of the regulatory minimum of 10.

The regulator rejected a request from Bolsa de Valparaíso, which has operated for 128 years, for more time to solve the crisis, and ordered the liquidation of the company, according to the publication.