Mexico Targets 2014 MILA Membership

The Mexican Stock Exchange is targeting a 2014 inclusion into the Integrated Latin America Market (MILA), says Mexico Stock Exchange general director, Pedro Zorilla. “Mexico is serious about becoming a part of MILA and offers multiple asset classes and liquidity,” he says. Inclusion in the partnership is subject to legal adjustments and authorization of Mexican regulators – with approval expected as soon as this year, Zorilla says. MILA members – the Santiago Stock Exchange, Bolsa de Valores de Lima, and the Bolsa de Valores de Colombia – welcome Mexico’s inclusion. “If Mexico joins MILA it will add significant critical size. You have the Brazilian market as a big and liquid and respectable market and you will have MILA as an alternative. If you are an investor and look at LatAm you will have two clear alternatives to invest in,” says Juan Pablo Cordoba, CEO of the Colombian Stock Exchange. “Mexico is working on legal changes and we hope the process will be approved this year so we can start the process of integration next year,” adds Jose Antonio Martinez, CEO of the Santiago Stock exchange. Currently, MILA has 552 listed companies, with a stock market value of $703bn. All panelists spoke at the MILA Day in New York.