The Mercado Integrado Latinoamericano, more commonly known as MILA, is a program that integrates the

stock exchange A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for th ...

markets of Chile, Colombia, Mexico, and Peru. The three founding members are the

Lima Stock Exchange The Lima Stock Exchange ( es, Bolsa de Valores de Lima, BVL) is the stock exchange of Peru, located in the capital Lima. It has several indices. The S&P/BVL Peru General Index (formerly IGBVL) is a value-weighted index that tracks the performance o ...

, the

Santiago Stock Exchange The Santiago Stock Exchange (SSE) ( es, Bolsa de Comercio de Santiago), founded on November 27, 1893, is Chile's dominant stock exchange, and the third largest stock exchange in Latin America, behind Brazil's BM&F Bovespa, and the Bolsa Mexicana ...

, and the Colombia Stock Exchange. The integration aims to develop the capital market through the integration of the four countries, to give investors a greater supply of securities, issuers and also larger sources of funding. MILA is largely a part of economic integration efforts among the

Pacific Alliance The Pacific Alliance ( es, link=no, Alianza del Pacífico) is a Latin American trade bloc, formed by Chile, Colombia, Mexico and Peru, which all border the Pacific Ocean. The alliance was formed with the express purpose of improving regional in ...

member countries of

Chile Chile, officially the Republic of Chile, is a country in the western part of South America. It is the southernmost country in the world, and the closest to Antarctica, occupying a long and narrow strip of land between the Andes to the east a ...

Colombia Colombia (, ; ), officially the Republic of Colombia, is a country in South America with insular regions in North America—near Nicaragua's Caribbean coast—as well as in the Pacific Ocean. The Colombian mainland is bordered by the Car ...

Mexico Mexico (Spanish: México), officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatema ...

, and

Peru , image_flag = Flag of Peru.svg , image_coat = Escudo nacional del Perú.svg , other_symbol = Great Seal of the State , other_symbol_type = Seal (emblem), National seal , national_motto = "Fi ...

. With the successful integration of the

Mexican Stock Exchange The Mexican Stock Exchange ( es, Bolsa Mexicana de Valores), commonly known as Mexican Bolsa, Mexbol, or BMV, is one of two stock exchanges in Mexico, the other being BIVA - Bolsa Institucional de Valores. It is the second largest stock exchange ...

with the Chilean, Colombian, and Peruvian bourses MILA has become Latin America's largest stock exchange. Investors are able to access MILA through one of the registered brokers that have access to the common trading platform for buying and selling stocks in any of the three countries. In the same way, the companies participating in MILA have increased availability to capital by means of new investors.

History

In September 2009, an agreement was signed by the Colombia, Chile, and Peru Exchanges, to create a unique market, with the objective to unite the equity trading platforms and in this way concentrate a bigger number of issuers, investors, and intermediaries. The formal ceremony was held in the location of BVL in Lima. The MILA started officially operations on May 30, 2011 as the second biggest market of Latin America in market capitalization with US$720 billion, and the third largest market in trading volume in the region with US$87,000 million a year. The Mexican Stock Exchange, BMV, announced its first trade made as part of MILA on 2 December 2014. The trade on MIILA was a $1,415 purchase of 200 shares in Chilean retailer

Falabella The Falabella is an Argentine list of horse breeds, breed of small horse. It is among the smallest of horse breeds, with a height at the withers in the range .. History The ancestral stock of the horse of South America descended from horses bro ...

, executed by GBM Mexico through GBM Chile. With the entry of Mexico into MILA, the integrated stock market now counts 798 issuers among the four countries, making it the biggest market by number of listed companies in Latin America, and the biggest in terms of market capitalization, according to the

World Federation of Exchanges The World Federation of Exchanges (WFE), formerly the ''Federation Internationale des Bourses de Valeurs'' (FIBV), or International Federation of Stock Exchanges, is the trade association of publicly regulated stock, futures, and options exchang ...

. The joint capitalization of the four bourses tops US$1.25 trillion, making it larger than the US$1.22 trillion

BM&F Bovespa B3 S.A. - Brasil, Bolsa, Balcão (in English, ''B3 - Brazil Stock Exchange and Over-the-Counter Market''), formerly BM&FBOVESPA, is a stock exchange located in São Paulo, Brazil, and the second oldest of the country. Its current form can be tra ...

References

External links

* {{official website, http://mercadomila.com/
Bolsa de Valores de Colombia

Bolsa Mexicana de Valores

"mercado-integrado-latinoamericano"
from

Financial Post The ''Financial Post'' was an English Canadian business newspaper, which published from 1907 to 1998. In 1998, the publication was folded into the new ''National Post'',"Black says Post to merge with new paper". ''The Globe and Mail'', July 23, ...

website Stock exchanges in Latin America Financial services companies established in 2010 Stock exchanges in South America

History

See also

References

External links