MILA to Add Fixed Income

The Integrated Latin American Market (MILA) expects to include fixed income trading from 2015, say stock exchange heads. Similarities across equity issuances in different markets made it easier for MILA to begin as a joint share trading platform, between Chile, Colombia and Peru. “The fixed income markets are much more complex,” says Juan Pablo Cordoba, CEO of the Colombian Stock Exchange. Jose Antonio Martinez, CEO of the Santiago Stock Exchange, notes that the fixed income markets are more local and more sophisticated. The countries will have to standardize their debt markets, he says. “It’s a matter of having enough capacity to deal with it all at the same time,” says Lima Stock Exchange CEO Francis Stenning. All spoke at the MILA Day in New York.