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Andean Exchange Project MILA to Proceed without Peru

Peru’s Bolsa de Valores de Lima (BVL) has suspended its participation in Mercado Integrado LatinoAmericano (MILA), a link-up between BVL, the Bolsa de Valores de Colombia (BVC) and Chile’s Bolsa de Comercio de Santiago (BCS), citing challenges arising from its domestic tax regime.

MILA was created to provide domestic brokers with access across the three participating equity markets through an automated model of intermediated order routers. Once live, the platform will allow brokers in each country to send DMA orders via the infrastructure of local brokers in the other two countries, directly to the exchanges.  The second stage of the integration – slated for completion by the end of 2011 – will seek to address differences in tax and regulation by coordinating regulatory bodies’ and exchanges’ rules across Chile, Colombia and Peru.

The Colombian and Chilean market infrastructure providers will continue working on the integration project, and are evaluating the impact the news will have on the current work schedule and the timing of the implementation.

Source: The Trader, 23.12.2010

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Filed under: Chile, Colombia, Exchanges, Latin America, News, Peru, Trading Technology, , , , , , , , , , , , ,

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