As of the first week of December 2014, the Mexican Market officially joins the Latin American Integrated Market (MILA). The Mexican Stock Exchange (BMV) has started up MILA technological and operating systems in that market place, and in turn, INDEVAL, the securities depository of Mexico has made the necessary arrangements to connect to the other securities depositories of MILA, including DCV Chile. With this, the markets of Colombia, Chile and Peru are enabled to operate in the Mexican market through a local intermediary, completing operational exchanges in all directions.

With the incorporation of Mexico, 134 new equity issues of Mexican companies are added to MILA –which belong to 8 sectors of the economy- totalling more than 780 securities among the four countries, becoming the leading market by the number of companies listed in Latin America, the second by size of stock-exchange capitalization – the combined value of the four markets exceeds USD 1.1 billion – and the third by trading volume, which makes it one of the most appealing markets of the region.

All of the entities that belong to MILA have developed a meticulous and joint work to successfully achieve this integration, and have performed connectivity tests in order to have everything operational safely and efficiently. On DCV’s part, a reciprocal depository agreement has been subscribed with INDEVAL, which implies specific terms to operate under the context of MILA. 

The relationship between DCV and INDEVAL goes back several years, where both depositories have worked together to provide international custody services to Chilean clients and this particular agreement to MILA, extends the entities’ work and collaborative relationship.

The BMV operates all the services of the stock and derivatives markets, including the listing of shares, debt instruments, Capital Development and Fibers Certificates (Certificados de Capital de Desarrollo y Fibras). Similarly, it offers trading platforms which are 100% electronic for equities, financial derivatives, fixed income operations and OTC derivatives, in addition to access to order routing to the largest derivatives market in the world, the CME (Chicago Mercantile Exchange). Similarly, it settles and offsets all operations through the central counterparties and offers custody services.

Fernando Yáñez, General Manager of DCV emphasizes the inclusion of Mexico as an opportunity to strengthen the market and to give it more dynamism, positioning the region and situating MILA as an investment hub. “The positive external factors of MILA are several, beyond the figures, and this is a dream, it is a project with a lot of work ahead”.

MILA is the first cross-border trading integration initiative without corporate merger or integration globally, initiated in May 2009. In the event of requiring any further information visit http://www.mercadomila.com/

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