The Integration of Stock Exchanges: The Case of the Latin American Integrated Market (MILA) and its Impact on Ownership And Internationalization Status in Colombian Brokerage Firms

Journal of Economics, Finance and Administrative Science 20 (2015) 84–93

10 Pages Posted: 14 Jan 2016

Date Written: July 31, 2015

Abstract

This paper describes the changes in ownership and internationalization of the brokerage firms in Colombia as a result of the regional integration process of its stock exchange market through the Latin American Integrated Market (MILA). It proposes that the integration of stock exchanges generated transformations within the brokerage sector, and affected companies in response pursue different strategies to remain competitive in the current state of affairs. In the case of Colombia, stock exchange integration through MILA has resulted into mergers between local brokerage firms, acquisitions from both national and international companies and changes in ownership.

Keywords: Integration, Stock exchanges, Brokerage firms, Capital markets Latin American, Integrated Market

JEL Classification: G15, G24, F15

Suggested Citation

Yepes-Rios, Beatriz and Gonzalez-Tapia, Kelly and Gonzalez-Perez, Maria Alejandra, The Integration of Stock Exchanges: The Case of the Latin American Integrated Market (MILA) and its Impact on Ownership And Internationalization Status in Colombian Brokerage Firms (July 31, 2015). Journal of Economics, Finance and Administrative Science 20 (2015) 84–93, Available at SSRN: https://ssrn.com/abstract=2714447 or http://dx.doi.org/10.2139/ssrn.2714447

Beatriz Yepes-Rios (Contact Author)

Universidad EAFIT ( email )

Carrera 49 N° 7 sur – 50
Bogotá, Antioquia 00000
Colombia

Kelly Gonzalez-Tapia

Universidad EAFIT ( email )

Carrera 49 N° 7 sur – 50
Bogotá, Antioquia 00000
Colombia

Maria Alejandra Gonzalez-Perez

Universidad EAFIT ( email )

Carrera 49 N° 7 sur – 50
Bogotá, Antioquia 00000
Colombia

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