The president of the Colombian Stock Exchange, BVC, said the new Latin American stock exchange, which started trading Monday morning, will bring opportunities to Colombians, reported RCN.
BVC President Juan Pablo Cordoba said that the integration of the stock exchanges of Colombia, Chile and Peru through the MILA, the Integrated Latin American Market will generate opportunities for investment and profit for Colombians.
Cordoba added that the new stock exchange will be the second biggest in Latin America, after Brazil.
The BVC president also said that those wishing to invest in this new stock exchange need to be aware of the risks, stating, “If I invest abroad, I have to be aware of what is happening in those countries.”
The MILA started trading in Colombia at 9:30AM local time Monday, with combined stocks valued at $650 billion. It is calculated that daily trading will exceed $350 million.
Listed companies include Colombia’s Interconexion Electrica as well as Colombia’s state-run oil company Ecopetrol and Chilean air transport company LAN Chile, which acquired Colombian airline Aires.
According to Bloomberg, the integration of stock trading has prompted financial firms to respond create funds and Latin American companies to form alliances.
“There’s significant capital market integration and we see more companies like LAN becoming regional players and acquiring assets across borders,” said Bruno del Ama CEO of Global X Funds, an exchange-funded company that manages $1.8 billion.