Central Bank of Chile

Implementation of Open Market Operations System (DEPO/X)

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Chile, Santiago
November 20, 2015

The Central Bank of Chile launched a new version of the Open Market Operations System (SOMA). It is based on CMA’s DEPO/X solution. It will be part of a Global System of Open Market Operations, which also includes the Reverse Open Market Operations such as Intraday Liquidity Facility (ILF), Deposit and Marginal Lending Facilities (Standing Facilities), Repo Operations, Securities Lending (Delivery Versus Delivery), Liquidity Deposits, Operations with Derivatives and Swaps of Foreign Currencies.

This system will permit the Bank to comply with its role of organization, which regulates market liquidity, providing equitable and transparent access to all the participants of the primary market, managing open market operations (OMOs), intervening in the monetary market through operations of debt instrument sales (contraction of monetary supply). Additionally, the system will provide the right conditions necessary to carry out auctions for the purchase /sale of foreign currencies and advance redemption of debt instruments, either by stripping, securities exchange or advanced redemptions.

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