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The Mexican Stock Exchange, or Bolsa
Mexicana de Valores (BVM), is Mexico's only stock exchange. It is
the second largest stock exchange by market capitalisation in Latin
America. BMV is now itself is a public company which is listed on
its own stock exchange following a 2008 IPO.Operations and history of Bolsa Mexicana de Valores (Mexican Stock Exchange)
Bolsa Mexicana de Valores SAB de CV (known as BMV) is a modern, vertically integrated group of businesses which controls and manages:
(a) the Bolsa Mexicana de Valores exchange itself (listed stocks and debt instruments for Mexican issuers). At March 2009 there were 130 domestic equity issuers listed, plus another 618 mutual funds. Since January 1999 the exchange has been fully electronic using the BMV-SENTRA equities system
(b) the Global BMV Market for non-Mexican registered issuers. At 31 December 2007 there were 346 foreign equity securities and debt securities listed on the Global BMV Market. Foreign companies listed on the global market include Apple, Dell, Microsoft and JP Morgan.
(c) the MexDer marketplace for derivatives (futures and options)
(d) the SIF-ICAP over the counter (OTC) inter-dealer market for fixed income and derivatives products
(e) custody, settlement and clearing functions for brokers and market trades in securities and derivatives, using electronic trading platforms
(f) sale and supply of market information.
BMV is the only marketplace for listed securities and derivatives in Mexico, and has grown to become the second largest financial marketplace in Latin America after Brazil.
BMV originally started in 1886 as the Bolsa Mercantil de Mexico (Mexican Mercantile Exchange). It changed its name in 1975 to its current name, Bolsa Mexicana de Valores, and acquired smaller exchanges in Monterrey and Guadalajara.For its first 114 years of existence BMV was owned privately, most recently by a group of Mexican banks and brokerages. Then, in Mexico's first public share offering (IPO) of 2008, BMV offered its shares to the public and became a listed company on 13 June 2008. More than 13,600 individual investors bought shares in the IPO to make it a widely held public company. The shares were priced at 16.50 pesos each. The recent stock price is displayed below.
BMV (the company) trades on the Mexican Stock Exchange under the ticker code BOLSAA.MX. BMV is an actively traded stock, and from 1 February 2009 its A shares were included in the BMV's own IPC index of the top 35 Mexican stocks for the first time.