Patience Key for LatAm's Mila Going Forward

Latin American exchange consortium still a long way to go, but has made progress.

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Steve Phillips, regional manager of Latin America and Caribbean at Nasdaq, says the success of Mila will be dependent on people being patient.

When Colombia Stock Exchange (BVC) president Juan Pablo Córdoba Garcés and then-CEO of Peru's Bolsa de Valores de Lima (BVL) Federico Oviedo Vidal first came to Steve Phillips, regional manager of Latin America and the Caribbean at Nasdaq, with the idea of integrating Latin America's stock exchanges, he tried to put things in perspective.

While Phillips did, and still does, believe that the Mercado Integrado Latinoamericano (Mila) is conceptually an incredible idea, he knew it wouldn't be easy.

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