Its name is Mercado integrado latinoamericano (Mila) and brings together the lists of Colombia, Chile and Peru.
This integration project of the three national stock exchanges started in November 2010 and creates the largest stock market in South America, with its potential of 565 stocks, while in terms of capitalization it will be the second stock exchange in the area after that of Brazil. with 691 billion dollars.
The opening of this new square, however, will not lead to the closure of the local ones. The stock exchanges of Colombia, Chile and Peru will continue trading on a regular basis. La Mila, as explained by Juan Pablo Cordoba, president of the Colombia Stock Exchange, aims to facilitate access "to a much wider, simpler and completely transparent market" for investors interested in Latin American companies.
“It is difficult to predict how long it will take to expand the volume but we are confident of increasing market dynamics in a short time,” Cordoba added.
The debut of the Mila has been slowed down and weakened by the political uncertainties of recent days, such as the disputed political elections in Peru, however the integration process seems well underway although it has yet to be completed.
Among the listed shares are the Peruvian copper giant, Southern Copper Corp, and the Colombian state-controlled energy company, Ecopetrol.
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