Colombia, Peru and Chile announced on Wednesday the integration of their foreign exchange markets in the framework of MILA to facilitate money exchange operations between the three associates which add to a daily average turnover of 2,798bn. So far the Latinamerican Integrated Market, MILA, is operating with a combined stock market for the three nations.
The difficult international situation has not affected the equity markets integration process of Colombia, Chile and Peru, said the president of Colombia’s Stock Exchange, Juan Pablo Córdoba.
Operations of a joint stock market linking Chile, Colombia and Peru are scheduled to begin May 30. The group, known as the Integrated Latin American Market, or Mila, said Tuesday that the decision was taken following two rounds of successful testing.
The main securities exchanges in Chile, Colombia and Peru plan to begin trialling cross-border stock trading in an arrangement that may lead to the creation of Latin America’s second-largest bourse by market value.