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Integrating Latin American Stock Markets: The Mercado Integrado Latinoamericano (MILA): Innovations and Perspectives

American University Business Law Review, Volume 3, 2014, Issue 2

28 Pages Posted: 6 Jul 2014  

Dante Figueroa

Georgetown University Law Center; American University - Washington College of Law; Chilean Bar Association; New York State Bar Association (NYSBA); D.C. Bar Association; United States Supreme Court Bar; Inter-American Bar Association; U.S. Court of International Trade

Date Written: July 3, 2014

Abstract

This Article reviews the main aspects of the Latin American Integrated Market (Mercado lntegrado Latinoamericano) ("MILA"), its principal characteristics, its structure, and the prospects for the development of the financial markets of MILA's signatory countries. The MILA initiative creates a genuine investment opportunity for U.S. investors to take advantage of the benefits generated by an integrated stock market in South America. As this Article will explain further, U.S. investors may benefit from larger economies of scale, more uniform and harmonized information, creation of new financial products, early notification of regulatory changes, multiple market exposure, and the singular position of trading in three financial systems at once. Accordingly, U.S. investors may find in MILA a "one-way street" for investing in securities of the three (and potentially four if Mexico were to join MILA) jurisdictions whose economies are sound, and who are jointly taking enormous strides toward strengthening, harmonizing, and expanding their securities markets.

Keywords: Stock Markets; Latin America; Stock Exchanges; Financial Globalization

Suggested Citation

Figueroa, Dante, Integrating Latin American Stock Markets: The Mercado Integrado Latinoamericano (MILA): Innovations and Perspectives (July 3, 2014). American University Business Law Review, Volume 3, 2014, Issue 2. Available at SSRN: https://ssrn.com/abstract=2462357

American University - Washington College of Law ( email )

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HOME PAGE: http://www.wcl.american.edu/faculty/figueroa-hernand/

Chilean Bar Association

Chile

New York State Bar Association (NYSBA)

D.C. Bar Association

1101 K Street NW
Suite 200
Washington, DC 20005
United States

United States Supreme Court Bar ( email )

Washington, DC 20002
United States

Inter-American Bar Association ( email )

1211 Connecticut Ave NW
Suite #202
Washington, DC 20036
United States

U.S. Court of International Trade ( email )

One Federal Plaza
New York, NY 10278
United States

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