Chile's Bolsa de Comercio de Santiago Bolsa de Valores is creating six management areas and two subdivisions as part of an internal restructuring and a new service model.
In a statement, the Santiago stock exchange said it will gradually implement the plan, which is meant to "elevate" its services, beginning Oct. 8.
The new management areas are Stock Market Services, Management Services, Customers and Business, Corporate Relations and Sustainability, Administration and Finance along with Audit and Control Management. The new operational plan also includes subdivisions for technology, as well as risks and procedures.
In January, Chile's securities and insurance regulator SVS approved changes in regulation for the stock exchange that were part of an effort to improve price formation and the depth of the market. Chile has presented numerous changes to its financial market in recent years as part of the South American country's overall financial reform, which includes a modernization of its banking law and a new financial markets commission.