Bolsa Mexicana de Valores (BMV), the Mexican Stock Exchange, has signed a letter of intent to join the exchanges of Colombia, Peru and Chile in what is Latin America’s first stock market tie-up.
The FT’s Adam Thomson in Mexico City reports on the country’s decision to give a nod to the Mercado Integrado Latino Americano (MILA). He says:
The decision stands to give the Mercado Integrado Latino Americano (Mila) a significant boost in trading and initial public offerings, as regional bourses follow what has become a global trend in recent years of stock market integration…
BMV is the second-largest exchange in Latin America after that of Brazil, with a total market capitalisation of more than $450bn. It is expected that with Mexico on board, Mila’s combined market capitalisation will exceed $1,000bn.