May/2011
The Latin American Integrated Market (MILA) was launched in Chile, which includes the stock market from Santiago, Lima and Bogota. The turnover amounted to 57 billion dollars.
In a concurrent ceremony in Santiago, Bogota and Lima, the three stock exchanges gave the opening bell at the Latin American Integrated Market (MILA), which became the largest exchange in Latin America regarding number of issuers, with a potential of 565 signatures.
However, currently only 15 Peruvian companies, 20 Colombian and 35 Chilean can operate in such three markets, since the other companies were not recorded in auditing entities of the MILA countries.
"This is a milestone in the financial markets world and a breakthrough in the Latin America integration" said the Santiago Stock Exchange president, Pablo Yrarrázabal at the opening ceremony.
Chileans, Colombians and Peruvians investors can buy shares and operate in the three markets simultaneously.
It is expected that trading volumes exceed 300 to 350 million dollars a day, said the president of the Stock Exchange of Colombia, Juan Pablo Cordoba.
Annually, the turnover would reach 57,000 million dollars, in this way MILA will be in the third place behind Brazil with 644.732 million dollars, and Mexico with 84.909 million.
For analysts, integration is beneficial because it will help to give prominence to three relatively small markets globally and regionally, and increase investment options in the three countries.
The Peruvian market primarily provides mining companies, especially copper mining, while in Colombia energy and oil sectors, both with small presence in the Chilean market, in which banking and commerce companies have predominance.
Source: Infobae | 