Mexico joins MILA

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The Mexican Stock Exchange reported last Monday that in reference to the relevant event released on June 19th this year in relation to the incorporation of the Mexican stock market into the Integrated Latin American Market (MILA), bilateral integration agreements have been signed between the BMV and the Colombia Stock Exchange, the Lima Stock Exchange, and the Santiago Commodities Exchange. Additionally, “Indeval Institución para el Depósito de Valores” (Indeval Institution for the Deposit of Securities) a subsidiary of the BMV, S.D., has signed account opening agreements and servicing deposits with Colombia, Peru and Chile.

The start of trading in securities as part of MILA will be carried out once the conditions laid down in the Internal Regulations and Operating Manual of the BMV and SD Indeval are met.

The first operation of the Mexican Stock Exchange (BMV) in the Integrated Latin American Market (MILA) will begin as from January 2015.

After confirming that operational exchanges can be made “in each and every way” between the four stock exchanges, and their functionality is confirmed, the Lima Stock Exchange, the Colombia Stock Exchange, the Santiago Commodities Exchange and the BMV shall agree on the “starting signal”.

“The market capitalization of the three MILA plazas is 602 billion dollars and that of Mexico is 527 billion dollars. The combined value of the four exceeds 1.1 trillion dollars, which is very close to that of Bovespa “.

Some brokerage firms in Mexico have attended the integration of the BMV into MILA, in order to approach the stock exchanges and intermediaries in these countries.

The meeting which was called “Brokers’ Meeting” in the stock markets of each nation, was held in order to consolidate alliances for routing orders through correspondent agreements and training by the stock exchanges.

The brokerage firms who participated in Mexico were GBM, Interactions, Credit Suisse, Deutsche, and Valmex.

During these various sessions, representatives of BMV Group presented the Mexican market structure, statistics, pattern and settlement systems and custodians.

This article was previously published on Funds Society.



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