The Integrated Latin American Markets (Mila)
structure has had a promising first three months thanks to
collaboration between brokers in Colombia, Peru and Chile.
But cross-border harmonisation of listing,
corporate, tax and forex rules is needed before the
countries stock exchanges can achieve full
Since its launch on May 30, the cross-trading
platform has operated under phase one of its integration plan.
This essentially allows brokers in the three countries to enter
into agreements pursuant to which they will take and place
orders on their home exchanges on behalf of clients of brokers
in the other two countries.
Its estimated around 30 routing agreements now exist.
We anticipated it would take a bit longer to reach that
number, said Carlos Fradique-Mendez, a partner with