Standard & Poor's has launched the MILA 40 Index, tracking the largest and most liquid stocks trading on the Mercada Integredo Latino Americano (MILA) platform, the joint venture of the Chile, Columbia and Peru stock exchanges. Stocks in the index must have market caps above U.S. $100 million.

"Equities from the Andean regions have been among the best-performing in all emerging markets," said Alka Banerjee, VP of global equity indices at S&P Indices. Banerjee called the index "a sound benchmark [for] this important region of the world."