https://www.fintechfutures.com/wp-content/themes/fintech_child/assets/images/logo/fintech-logo-2.png
  • Home
  • News
  • Intelligence
    • Back
    • Features & Analysis
    • Interviews
    • Reports & Surveys
    • White Papers
    • Case Studies
    • Webinars
    • Podcasts
    • Videos
    • Library
    • Techwire
    • Browse
  • Publications
    • Back
    • Banking Technology Magazine
    • Supplements
    • Daily News at Sibos
    • Subscribe to Magazine
  • Content Hub
    • Back
    • COVID-19: Industry Impact & Response
    • Diversity & Inclusion
    • Food for Thought
    • I’m Just Saying
    • The Heart of the Matter
    • Fintech Agony Uncle
    • It’s a Matter of Comms
    • Challenger Banks Guide
  • Videos
  • WTF? Podcast
  • Awards & Events
    • Back
    • Banking Tech Awards
    • Banking Tech Awards USA
    • PayTech Awards
    • FinTech Futures Edge: PayTech
    • All Events
  • Advertise
  • Jobs
  • More
    • Back
    • About us
    • Contact us
    • Advertising / Media Kit
    • Banking Technology Magazine Calendar
    • Reports Calendar
    • FinTech Futures Newsletter
  • FinTech
  • BankingTech
  • PayTech
  • RegTech
  • WealthTech
  • LendTech
  • InsurTech
  • US Edition
    • Intl. Edition
Banking Technology
  • NEWSLETTER
  • Home
  • News
  • Intelligence
    • Back
    • Features & Analysis
    • Interviews
    • Reports & Surveys
    • White Papers
    • Case Studies
    • Webinars
    • Podcasts
    • Videos
    • Library
    • Techwire
    • Browse
  • Publications
    • Back
    • Banking Technology Magazine
    • Supplements
    • Daily News at Sibos
    • Subscribe to Magazine
  • Content Hub
    • Back
    • COVID-19: Industry Impact & Response
    • Diversity & Inclusion
    • Food for Thought
    • I’m Just Saying
    • The Heart of the Matter
    • Fintech Agony Uncle
    • It’s a Matter of Comms
    • Challenger Banks Guide
  • Videos
  • WTF? Podcast
  • Awards & Events
    • Back
    • Banking Tech Awards
    • Banking Tech Awards USA
    • PayTech Awards
    • FinTech Futures Edge: PayTech
    • All Events
  • Advertise
  • Jobs
  • More
    • Back
    • About us
    • Contact us
    • Advertising / Media Kit
    • Banking Technology Magazine Calendar
    • Reports Calendar
    • FinTech Futures Newsletter
  • Search
  • US Edition
    • Intl. Edition
  • newsletter
  • FinTech
  • BankingTech
  • PayTech
  • RegTech
  • WealthTech
  • LendTech
  • InsurTech
fintechfutures.com


Lima Exchange sets sights on LatAm expansion with LSE platform

  • Written by FinTech Futures
  • 7th May 2015
MillenniumIT's Mack Gill: Peru seeks to challenge its bigger neighbours

MillenniumIT’s Mack Gill: Peru seeks to challenge its bigger neighbours

As Peru rapidly grows its economy, the country’s Bolsa de Valores de Lima exchange hopes to turn itself into a regional hub for international investors. To that end, the exchange has gone live with a new trading platform, built by the London Stock Exchange’s MillenniumIT subsidiary.

The Lima exchange is already a member of Mercado Integrado Latinoamerica, a joint initiative between the exchanges of Chile, Colombia, Peru and Mexico in which members of each exchange have access to the others’ markets. Peru already has the fastest growing economy in Latin America, having grown at an average of 6.4% over the last decade. Now, the exchange is seeking to revitalise its equities and bond trading through the new Millennium Exchange trading platform and smart order router.

The deal is the first successful go-live for MillenniumIT in Latin America, and as such it took a few adaptations – most notably, creating a Spanish version of the trader workstation. This was particularly important both for the local market and for international investors, of whom the largest single group is from Spain ($4.5 billion in 2013 alone). From a local perspective, the platform is also tasked with facilitating the growth of the MILA countries’ interactions with each other and the outside world.

“Peru has grand aspirations and they understand the importance of getting international investors,” Mack Gill, chief executive of MillenniumIT, told Banking Technology. “Lima wants to be a hub, a gateway for Latin America. They know that they have big neighbours in Brazil and in the US, and part of what MILA is about is the smaller countries – Chile, Colombia, Peru and Mexico – creating a stable, reliable and attractive alternative.”

“We are ready to interconnect with other markets in an easier way,” added Christian Laug, president of Bolsa de Valores de Lima. “With the implementation of this new platform, we aim to position the BVL as a representative institution of economic development, preparing Peru to turn into the gateway of capital and financial hub of the Andean region. In the short term, the use of this new platform will allow us to perform nationwide operations and keep up with other world markets.”

The new trading platform at the Lima exchange is also part of the broader development of the country itself. Peru’s middle class has increased by 50% over the last 10 years according to figures provided by the World Bank. The country is also in the process of becoming an OECD member, with the government aiming for full membership by 2020.

Meanwhile for MillenniumIT, the deal is part of its current focus on broadening its geographical coverage, which has met with some success in the Americas in recent months. The Sri Lanka-based company has also provided the entire technology platform for Canadian exchange Aequitas, which launched in March, and it also provides the SOR gateway through which all orders on Canada’s TMX must pass before entering the market. The company is also currently working to build a new platform for the Buenos Aires exchange in Argentina.

Tags: Stock Exchange, Trading Technology BVL, Lima, MILA, MillenniumIT News Peru, South America

READ NEXT


  • Finteum
    NatWest, Citi, Barclays trial Finteum intraday FX swap and repo platform
  • Euronext migrates core data centre from UK to Italy
  • Nexi sells capital markets tech business to Euronext for €57m
  • Societe Generale embarks on derivatives tech transformation with FIS

Leave a comment Cancel reply

-or-

Log in with your FinTech Futures account

Alternatively, post a comment by completing the form below:

Your email address will not be published. Required fields are marked *

Fintech Jobs


Related Content

  • KeyBank goes live on SmartStream’s cloud-based collateral management tech
  • European neobroker Scalable Capital raises $180m in Tencent-led funding round
  • MCB logo
    Mauritius Commercial Bank adopts Mitech trade finance tech
  • Mark Cuban-backed banking app Dave to go public in $4bn SPAC deal

Top stories

The hottest news this week

Click here to read

Magazine

Banking Technology Magazine June 2022 issue out now

6th June 2022
view all

Webinars

Webinar: Winning with data in the cloud

10th June 2022

Webinar: How to keep up with the card payments industry upstarts and capitalise on the opportunities

27th May 2022

Webinar: What are the top trends and technologies transforming financial services?

26th April 2022
view all

Fintech Jobs

Reports & Surveys

Report: Northern Ireland fintech – leaders in ESG

17th May 2022

FinTech Futures Industry Survey & Report 2022

6th May 2022

Report: Digital transformation and trends in financial services

6th May 2022
view all

Podcast

What the FinTech? | S.3 Episode 9 | Smart applications for AI and ML

21st June 2022

What the FinTech? | S.3 Episode 8 | A hybrid approach to wealth management

1st June 2022

What the FinTech? | S.3 Episode 7 | The future of digital payments

12th May 2022
view all

Videos

Video: Lead Bank at FinovateSpring 2022 – Digital transformation for community banks

2nd June 2022

Video: IncredibleBank at FinovateSpring 2022 – Diversity and inclusivity in fintech

2nd June 2022

Video: Wells Fargo at FinovateSpring 2022 – BaaS and open banking

1st June 2022
view all

White Papers

White paper: Intelligence capabilities for AML and CFT regulatory compliance

26th May 2022

White paper: Digital lending – how technology transforms banks

17th May 2022

White paper: How to select a digital lending solution – the ultimate guide

17th May 2022
view all

Events

PayTech Awards 2022

Find out more

Banking Tech Awards USA 2022

Find out more

Content Hubs

Sibos 2021 Content Hub

1st September 2021

The heart of the matter: a customer-centric look at fintech

4th August 2021

Diversity & Inclusion Hub

9th April 2021
view all

Media Packs

FinTech Futures Media Pack

Download

FinTech Futures Intelligence Media Pack

Download

Techwire

CAI Software Helps Clients Simplify E-Commerce Payments

24th June 2022

Clarus R+D Announces New CEO

24th June 2022

AnalytixInsight Announces Changes to InvestoPro Board of Directors

23rd June 2022

GreenBox POS becomes one of the industry’s first to ensure real-time custodial account attestations through agreement with Armanino

23rd June 2022

KopenTech Launches Revolutionary KTX DirectBidding™ Offering to Enable Direct Peer-to-Peer CLO Trading

23rd June 2022

Lokyata Announces Systems Integration with Infinity Software, Bringing Enhanced Loan Decisioning Capabilities to Lending Institutions

23rd June 2022

Balaji Devarasetty Named to 2023 Constellation Research Business Transformation 150

23rd June 2022

Paywallet Chosen to Join Mastercard Global Start Path Open Banking Program as Inaugural Member

23rd June 2022
view all

Twitter

FinTech_Futures

@stripe simplifies bank transfers for UK, EU and Mexican businesses #Payment processing giant @stripe says it has… twitter.com/i/web/status/1…

24th June 2022
FinTech_Futures

What is #corebanking? Having spent 30 years in #banking #technology asking what core banking is seems a strange qu… twitter.com/i/web/status/1…

24th June 2022
FinTech_Futures

What the Actual #crypto is going on? The last few months, especially weeks, have been difficult in the realms of c… twitter.com/i/web/status/1…

24th June 2022
FinTech_Futures

#Fintechs Stanhope and Stenn hire new CPOs as they look to scale Paytech veteran Rob Groombridge joins Ireland-bas… twitter.com/i/web/status/1…

24th June 2022
FinTech_Futures

#SME #paytech @SumUp raises €590m at €8bn valuation This latest round of debt and equity funding brings SumUp’s to… twitter.com/i/web/status/1…

24th June 2022
FinTech_Futures

Video: How @Payoneer prevents #financial crime with @ThetaRayTeam's tech Payoneer trusts ThetaRay’s #AI Powered Tr… twitter.com/i/web/status/1…

24th June 2022
FinTech_Futures

B2B #BNPL fintech @hokodotech raises $40m in Series B funding round UK-based start-up Hokodo has secured $40 milli… twitter.com/i/web/status/1…

24th June 2022
FinTech_Futures

@Mambu_com welcomes four new senior leadership hires Fernando Zandona was appointed as chief technology officer (C… twitter.com/i/web/status/1…

24th June 2022

Sign up for the FinTech Futures newsletter

Receive updates straight to your inbox each day

New issue of Banking Technology Magazine out now

Available to download for free

Banking Tech Awards USA - 2022 Winners

Congratulations to all of this year's winners!

FinTech Futures Jobs

Find a job or post a vacancy

Fintech Futures
  • About us
  • Advertise with us
  • Contact us
  • Fintech jobs
  • Privacy
  • CCPA: “Do Not Sell My Data”
  • Cookies Policy
  • Terms
Copyright © 2022 Informa PLC. Informa PLC is registered in England and Wales with company number 8860726 whose registered and Head office is 5 Howick Place, London, SW1P 1WG.