Chilean Benchmark Data to Become Fee Liable
The Chilean Benchmark Facility SpA (CBF) announced on 1 October 2019 that it will introduce a tiered subscription service for organisations that require real time access to the TAB/TADO and ICP data. The new fees will be applicable from the 1 January 2020.
The new subscription model is designed to cater for all types of use, including information vendors, exchanges, clearing houses, banks and non-bank organisations.
“The CBF needs to invest in greater governance and oversight of their processes to ensure that the benchmark continues to be fit for purpose and meet the IOSCO Principles for Financial Benchmarks” said Roland Jacob, Country Head of CBF.
The CBF has recently moved to a new Calculating Agent platform and has set up a new Oversight Committee made up of market representatives, academics and governance professionals. This Oversight Committee will play an important role in ensuring that the Chilean TAB/TADO and ICP rates are determined in accordance with industry best practice to provide reliable and trusted rates for the benefit of the Chilean economy.
Mr Jacob said that the increased costs need to be met by all users of the benchmark in the future on a fair, reasonable and non-discriminatory basis.
Information vendors, including Refinitiv and Bloomberg have confirmed that they will be authorised distributors, either to supply live data to subscribers and/or to supply delayed data to their customers.
Any organisations that wish to learn more about the new subscriptions or wish to obtain a subscription to use the benchmark data can visit the CBF website (www.cbf.cl) for more information. Subscription applications can be completed using the online subscription tool or subscription forms are available on the website to download and complete.
The TAB/TADO and ICP rates will be made publicly available, for non-professional users, on a 24–hour delayed basis, from the CBF website (www.cbf.cl) from the 1 January 2020.
Chilean Benchmark Facility SpA.