Stock market capitalization of MILA markets

This past October 15 and 16 the Frankfurt and London Stock Exchanges, respectively, held the first MILA Days in the European region. In this way, the Latin American Integrated Market met, for the first time, with investors and intermediaries of the developed economies to present the investment opportunities the region has to offer. 

The balance of the activities performed both in the Deutsche Börse AG and in the London Stock Exchange was very positive as it not only meant a great opportunity to show the world the achievements we have reached by gathering as MILA, but we also had the chance to collect suggestions from investors to make the market structure even more attractive and efficient.

The Latin American Integrated Market is currently the largest stock market platform in the region. With a total capitalization exceeding USD 805 billion, since its official start in May 2011 it has sought to promote and increase the capital market liquidity of its participants, Chile, Colombia, Peru, and more recently, Mexico.

This is how MILA has positioned itself as the most successful project in terms of integration of the Pacific Alliance countries which, along with the presence of the four stock exchanges and the four securities depository members in this MILA Day activity, has meant significant progress to extend confidence to investors beyond our region, confirming that even amid a difficult juncture internationally, we continue to offer and represent interesting investment opportunities.

Therefore, MILA continues to move forward to consolidate as a solid Brand backed by four sound-economy countries and with similar financial models and systems, which provide competitive advantages and stability that make this platform an attractive investment hub for both local and international investors.

Facing this scenario, its promotion and dissemination among foreign investors is essential so as to increase and consolidate its presence in the region. This work is expected to continue to include new instruments and operating improvements. Currently, not only shares can be traded, but also NAV instalments, ETFs, Fibers and Tracs and together with all these, improvements have been implemented in the model such as allowing the participation of international custodians in addition to reinforcing the settlement processes of operations between brokers participating in this market. 

Similarly, between 2014 and 2015, the four countries fostered regulatory reforms to allow public stock offers in the four markets under the principle of acknowledgement of the securities registry/list process in the issuer’s market of origin, which will broaden the capacity and depth of capital funding for companies in the four countries comprising MILA.

MILA is a market in continuous evolution and development, continuously seeking new and better products and services to offer both local and international investors. Fro this reason we have set new and greater challenges, outlining a road map for the years to come that allows us to consolidate our integrating vision, extending the investment opportunities we deliver to the market.

Furthermore, we have set a second stage to work alongside the authority in order to achieve a homogeneous standard and regulatory framework, according to the best international practices, not only among the countries comprising this Alliance, but also in Latin America. 

In this context, in the mid-term we hope to facilitate the tax and exchange-related treatments, harmonise the standards, treat all instruments registered in MILA stock exchanges locally and integrate the compensation and settlement processes, encouraging sustainable development based on best practices for all the stock exchanges related to MILA.

José Antonio Martínez, General Manager of the Santiago Stock Exchange
Fernando Yañez, General Manager of DCV

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