The stock markets in Colombia, Chile and Peru launched joint operations Monday as the Integrated Latin American Market (MILA), with a volume of about 350 million dollars per day. This is the second-largest stock market in the region, after Sao Paulo. MILA brings together firms with a stock value of about 650 billion dollars, according to Juan Pablo Cordoba, president of the Colombian stock market.
He noted that the joint market opens up investment options for the countries involved, since investors can opt for firms in all three countries. Cordoba further noted that the Mexican stock market is considering joining MILA in the future. MILA hopes to reach a volume of about 1.5 billion dollars in its daily operations within five years.