Political Risk Latin America Blog @PolRiskLatam

Chile, Peru and Colombia launch second largest regional stock market

Posted in News and Articles, Political Risk by politicalrisklatam on June 3, 2011

by Merco Press News, June 3rd, 2011.

Chile, Peru and Colombia formally combined operations of their stock markets on Monday to form the Latin American Integrated Market (Mercado Integrado Latinoamericano, or Mila).

Authorities celebrated the integration of Mila, which will allow for greater access and investment in each country’s stock exchange.

“With the Mila, we are making concrete contributions to the growth of the capital markets, incorporating important benefits for investors, where they emphasize an issuers’ major diversification,” said Pablo Yrarrázaval, president of the Stock Exchange of Santiago.

Talks surrounding Mila began nearly two years ago as a way to compete with Brazil and Mexico, the larger markets of Latin America.

In the deal, Chileans will be able to buy stocks from Peru and Colombia through local brokers who will have counterparts in those countries. At the same time, foreign investors will have greater and simpler access to the Chilean market. (continue reading… )

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