Ask market participants about the much-vaunted integrated stock
exchange between Chile, Colombia and Peru the Mercado
Integrado Latinoamericano, or Mila and its hard
not to elicit a strong reaction
Regional Intergration: Mila: Thinking big
To its detractors, Mila is, at best, a marketing tool for the region’s political leaders. But with Mexico’s inclusion this year set to nearly double the size of the integrated bourse, hopes are growing that trading volume will finally pick up. By Katie Llanos-Small
Its failed to have an impact, says a
London-based equity manager. Without better trading
automation, its little use, adds a banker in
There is no escaping the numbers: the market cap of the
three exchanges might rival Brazils Bovespa, Latin
Americas largest exchange, but trading between them is
pitiful. The truth is that Mila hasnt traded
much, says Jorge Errázuriz, managing partner at
BTG Pactual Chile.
In October, less than $6 million of stock was sold across
the platform. Buying and selling on Santiagos stock
exchange alone was nearly three times the deal flow on
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