The Mexico Stock Exchange (BMV) last week carried out its first trade as a member of the Latin American Integrated Market (MILA), connecting to the bourses of Chile, Columbia and Peru for the first time.
According to a statement from the association, BMV has implemented MILA’s technological and operating systems in its stock market, and its securities depository, INDEVAL, has connected to the other central securities depositories (CSDs) within the MILA framework.
With the integration of 136 new issuers from Mexico, securities among the four countries total more than 780 and have a combined value of $1.1 trillion, making it the largest market in the region, ahead of Brazil in terms of capitalization and listings.
“This entry is highly relevant for the Mexican market because it facilitates access to the South American investors’ markets or our issuers, which will give them better effectiveness and liquidity, while at the same time strengthening the region as a whole,” says Pedro Zorrilla, joint director, BMV.
MILA was formed in 2011 to boost market liquidity within the Pacific Alliance, a Latin American trade bloc made up of Chile, Columbia, Mexico and Peru, with Costa Rica and Panama most likely to join next.
Since its launch, a number of new initiatives have been launched within the MILA markets that have attracted widespread attention, for example, the creation of the S&P MILA 40 index. However, while these advancements are positives, the market infrastructures are working hard to advance MILA further.
Mexico Executes First Trade In MILA Framework
The Mexico Stock Exchange (BMV) last week carried out its first trade as a member of the Latin American Integrated Market (MILA), connecting to the bourses of Chile, Columbia and Peru for the first time.