Mercado Integrado Latinoamericano (MILA)

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Mercado Integrado Lationoamericano (Latin American Integrated Market)
Founded 2011
Products Integration of equity markets in Chile, Colombia and Peru
Releases Company News

Mercado Integrado Latinoamericano (MILA), or the Latin American Integrated Market, is the end result of a market integration project taken on by Peru, Colombia, and Chile. In an attempt to make their markets more competitive among international equities, and specifically the emerging market space, the three countries merged their stock markets in May 2011.[1]

An earlier deadline was expected, but progress came to a halt while Peru’s Congress dragged its feet on passing a law that would standardize capital gains tax. On Dec. 29, 2010, Peru lowered its capital gains tax to 5 percent. The rate had previously ranged from 5 to 30 percent depending on an investor’s income bracket.

MILA is the largest Latin American Market in terms of companies listed with more than 560 stocks available to investors.[2] It is Latin America’s second-biggest stock market in terms of market cap, after Brazil’s BM&FBovespa.[3]

In June 2014, the Mexican Stock Exchange (BMV) said it would connect to the other bourses in MILA by the end of the year, becoming part of the bloc. The addition of BMV will more or less double MILA's market cap, putting it closer to the size of Brazil's BM&F Bovespa.[4] [5] BMV had first expressed interesting in joining MILA in December 2011, by signing a letter of intent.[6]


Discussions concerning the proposed merger of the three markets began in June 2010. Representatives from Peru, Colombia and Chile met in August and September of that year, leading up to a launch event on November 9, 2010. Testing began later that month. Operations finally began on May 30, 2011.

Key People[edit]