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Andean Exchange Overtaking Mexico Lures ING, Global X Fund

The integration of stock trading in Chile, Colombia and Peru is prompting ING Groep NV to create a mutual fund that invests in the three countries, Global X Funds to start a regional exchange-traded fund and Colombia’s Helm Bank SA to form an alliance with Chile’s Empresas Penta SA.

Trading on the new exchange, known as MILA, began today, more than six months after the exchanges in the three countries agreed to allow cross-border transactions and create Latin America’s second-biggest stock market after Brazil.