The Latin American Integrated Market, pending challenges

Abstract

This work, in light of the recent announcement of the merger of the Santiago, Lima and Colombian stock exchanges, seeks to explain the evolution and challenges of the the Latin American Integrated Market, a proposal that brings together, in addition to the aforementioned entities, the Mexican Stock Exchange and its centralized deposits in these four countries, which has been operating for more than twelve years. The results of this last initiative have not been very promising, due, among other aspects, to the lack of adjustments and regulatory harmonization in different areas, such as corporate and tax, organic, exchange and control, issues that must be taken into account if better returns are to be obtained with the referred stock market merger.