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Stock Exchange awarded BancoEstado Brokers as the best of 2010

Felipe Roca

, Feb 09, 2011. 03:00

Two of the three awards granted every year by the Stock Exchange were given to BancoEstado Brokers. During 2010, the brokerage held the first place in the markets for financial intermediation instruments and fixed income, with 22% and 20% market share respectively. For 2011, the challenge will be to triple the equity trading volumes.
With great satisfaction and pride, Segismundo Schulin-Zeuthen, BancoEstado’s Chairman, and Jorge Ramirez, General Manager of the brokerage subsidiary, received both prizes granted by the Santiago Stock Exchange to the Corporation for their good performance during 2010. 

BancoEstado Brokers had the first place in Financial Intermediation instruments, with 22% market share, and fixed income instruments, with 20% of the total. This subsidiary traded the largest amounts of stock exchange operations last year, reaching a positive 18% of total stock market. 

Regarding the importance of both awards, Segismundo Schulin-Zeuthen, Chairman of the bank, stressed that "this distinction is a tremendous award for the brokerage’s work and a great satisfaction for the Bank, because we are the leaders in two of the three markets in which we operate. " He said the challenge is to increase equity.”We still have room to grow in this market, allowing people to enter even with low amounts, similar to what is done with mutual funds, because this way we also promote bankarization, "he said. 

On this matter, Jorge Ramirez said that during 2011 they expected to maintain good results in the two markets leaded by BancoEstado Brokers and to make substantial improvements in equity. "Our goal is to triple the volumes traded, from 34 thousand to 100 billion in equities. To achieve this, we are working on multi-channels, starting with the development of a very powerful website. Today, 30% of transactions are made by this channel, "said the Executive.