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General Subscription Enquiries

The following benchmarks are part of the data package; 

  • TAB Nominal 
  • TAB UF 
  • TADO 
  • ICP 
  • ICP Real 

Definitions of the benchmarks are found below: 

TAB Nominal – Tasa Activa Bancaria Nominal 

30, 90, 180 and 360 day periods 

“The rate that would be paid for the last remaining unit of funding that would be required on a given day from the institutional market”. CLP – Chilean Pesos.

TAB UF – Tasa Activa Bancaria en Unidad de Fomento 

90, 180 and 360 day periods 

“The rate that would be paid for the last remaining unit of funding that would be required on a given day from the institutional market”. CLF – Unidad de Fomento 

TADO – Tasa Activa Bancaria en dólares 

30, 60, 90, 180 and 360 day periods 

“The rate that would be paid for the last remaining unit of funding that would be required on a given day from the institutional market”. USD – United States Dollars 

ICP – Índice de Cámara Promedio 

One day 

“The ICP is an index of the average cost of funds, denominated in Chilean Pesos, for unsecured overnight (one day) borrowing in the Chilean interbank market”. 

ICP Real – Índice de Cámara Promedio Real (UF) 

One day 

The ICP (Real) index is a complimentary index of the average cost of funds, denominated in Unidad de Fomento (UF), for unsecured overnight (one day) borrowing in the Chilean interbank market”. 

The benchmarks are published each good business day in Chile. 

The time of publication is as follows; 

TAB Nominal, TAB UF and TADO – 11:30am local time Santiago  

ICP and ICP Real – Approximately 6:30pm local time Santiago. Publication time is subject to the availability of input data from the Central Bank of Chile so it can be earlier than 6:30pm or later. The latest time for publication is 8:00pm local time Santiago. 

The benchmarks are undergoing significant changes to bring them up to world standards, which will involve significant costs in terms of systems, people and processes. The CBF is moving the benchmarks to meet the IOSCO Principles for Financial benchmarks in the next year. These principles were designed to strengthen the governance of benchmarks post the Libor scandal. 

The data becomes fee liable from the 1st January 2020. Any one organisation that uses the benchmarks will need to obtain a subscription or distribution license prior to the 1st January or lose access to the data. 

The data is free of charge until the 1st January 2020. 

There are three types of subscriptions.  

  • Financial Intermediaries and Corporates – for their own internal business use 
  • Vendors and Distributors – to allow redistribution of the data 
  • Exchanges and Clearing Houses – to use for trading and clearing purposes 

For Financial Intermediaries/Service Providers and Corporates – If you wish to receive the benchmark data within 24 hours of publication, you will need a direct subscription with CBF. 

If you only need the data on a 24–hour delayed basis, for your own internal use (and not redistribution) you do not need a subscription. Access to this data can be through authorised vendors that will carry the data or via the CBF website. Delayed data on the CBF website will be limited to current day values and selected historical days.  

Vendors, distributors, exchanges and clearing houses wishing to distribute the CBF data or use the data for financial contracts or clearing should contact the CBF for more information. 

For Financial Intermediaries and Corporates – go to the subscription tab above and follow the steps for an online subscription. Go to – https://cbf.cl/subscribe/how-to-subscribe/. 

Vendors, distributors, exchanges and clearing houses should contact subscriptions@cbf.cl to provide more details of your redistribution or use cases.  

The fees for the subscription services are explained in full on the subscription charges page – https://cbf.cl/subscribe/subscription-charges/ 

If you obtain Financial Intermediary or Corporate subscription, you are allowed to use the data for your own internal business use. For organisations, like banks, that interact with customers, they are allowed to use the data to provide trade advices and reports from the data, but not to provide it to any third party as a substitute service on a systematic basis.  

The online subscription form clearly details the terms and conditions of use. 

If you do wish to redistribute data in a systematic manner in real or delayed time, then you must get a distribution agreement with CBF. If this is the case send an email to subscriptions@cbf.cl and the team will work with you to arrange a contract for this purpose. 

The CBF data package includes all benchmarks and these cannot be separated. 

A subscription can be obtained online from the CBF website. Once you accept the terms and conditions you will be provided with a subscription from CBF, this is a system generated file and is not countersigned. Should you require a countersigned version please contact us at subscriptions@cbf.cl and we will arrange for one to be created for you. 

If you only need the data on a 24–hour delayed basis, for your own internal use (and not redistribution) you do not need a subscription. Access to this data can be through authorised vendors that will carry the data or via the CBF website. Delayed data on the CBF website will be limited to current day values and selected historical days.  

If you wish to distribute delayed data there are fees involved. Please contact subscriptions@cbf.cl and they will help you with the necessary agreements. 

Please visit the “How to Subscribe” page to view the steps required to obtain a subscription agreement – https://cbf.cl/subscribe/how-to-subscribe/

 

Technical Issues

Older browsers are still being used in many financial market institutions and some of these browsers do not support SNI and will generate this error. Please try a later version of a browser. If you are unable to utilise a supported browser in your working environment please contact subscriptions@cbf.cl and we will endeavour to find a solution for you.

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