Nuam, the holding company that integrates the stock exchanges of Colombia, Chile and Peru, is approaching the third anniversary of its creation with figures that suggest the project is beginning to deliver on its founding premise. According to Colombian outlet El Tiempo, companies listed across the three markets carried a combined value of $539bn as of June, up 38% year on year, as per the company's first-half results, showing a gain of roughly $148bn in a single year that points to renewed investor appetite for the region.

The scale of that market recovery has translated into stronger numbers for Nuam itself. Operating revenue rose 27% year on year to $94.5mn in the first half, while net profit climbed 53% to $24.8mn, as trading activity picked up across all three jurisdictions.

The results also illustrate how far Nuam's business has moved beyond simple share trading. Custody made up 32% of operating revenue in the second quarter, with assets held through Colombia's Deceval and Peru's Cavali reaching $414bn between them – $265bn in Colombia and $149bn in Peru. Clearing and settlement revenue rose 40.1% from the second quarter of 2025, while trading revenue was up 26.7%. Volumes across equities, fixed income and derivatives reached $634bn for the quarter, with 5.6mn transactions executed, a 42% increase on a year earlier.

Juan Pablo Córdoba, Nuam's chief executive and former head of the Colombian Stock Exchange, said the first-half performance showed the company could keep strengthening its business even as the broader regional integration continued.

"Our challenge now is to convert those capabilities into more opportunities for issuers, intermediaries and investors and, in doing so, contribute to markets with greater scale, depth and competitiveness," Córdoba added.

That integration, however, remains a work in progress. Nuam completed the rollout of a common equity-trading technology platform across all three countries this year, but regulatory harmonisation has advanced unevenly. Colombia has implemented clearing and interoperability rules that Chile and Peru are still finalising, while Chile has direct market access regulation in place that Colombia and Peru have yet to complete.

Those remaining gaps will be a central theme when the region's capital markets community gathers this week for the nuam-Asobolsa 2026 Regional Capital Markets Congress, running on September 9-11 in Cartagena.

Investors, issuers, regulators and experts from all three countries are due to discuss international capital flows into Latin America, ETFs, dual listings, debt, alternative assets, artificial intelligence and tokenisation.

Taken together, the growth in listed value, trading volumes and profitability point to a broader shift in sentiment towards Latin American capital markets after a prolonged period of caution. For Nuam, the task now is to show that a larger, better-connected market can convert that renewed confidence into lasting flows, rather than a temporary rebound.