MEXICO CITY, Jan 21 (Reuters) - The Latin American Integrated Market, or MILA, which comprises the bourses of Chile, Colombia, Peru and Mexico, plans to include debt instruments in 2016 and indexes for sectors such as mining and energy, top bourse officials said on Wednesday.
Marking the inclusion of Mexico into the combined market, the officials warned, however, that they expect a slow pick-up in cross-market trading. So far, just one trade has been made by a Mexican brokerage using the platform since early December.
Jose Oriol Bosch, chief executive of Mexico's stock exchange, said on the sidelines of an event at the bourse in Mexico City that MILA members were looking at integrating several indexes, but had not set a date yet.
Francis Stenning, head of the Lima stock exchange, said MILA members were open to including a host of instruments, such as Exchange Traded Funds.
"Fixed income is a big challenge that we have to implement. There are a series of regulatory issues," he said, adding that MILA planned to offer debt instrument trading in 2016.
MILA was formed in 2011 to boost market liquidity within the Pacific Alliance trade group, and the tie-up aims to create more business for financial markets in the region.
The Pacific Alliance, created in 2012, is an economic bloc that includes MILA's members and represents about 35 percent of Latin America's gross domestic product.
With Mexico's bourse joining MILA, the platform now includes 790 shares with a combined market capitalization of around $950 billion, said Jose Antonio Martinez, chief executive of the Santiago Stock Exchange. (Reporting by Jean Luis Arce and Simon Gardner. Editing by Andre Grenon)