February 28, 2024

MEXICO LAUNCHES STOCK EXCHANGE FOCUSED ON THE MIDDLE MARKET

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“We welcome the era of market democratization and market inclusion in Mexico,” commented Maria Ariza, BIVA’s CEO, at the event commemorating the start of operations of BIVA, ‘Bolsa Institucional de Valores’, (Institutional Securities Exchange) whose first order was made by Finamex .

According to the CEO, there is currently a breakthrough in company’s feelings towards approaching the stock markets, which is why she is optimistic about market growth. To achieve this, Ariza plans to continue striving for the authorities to make regulatory changes with recommendations of a fiscal and regulatory nature, as well as flexibilization. BIVA is also dedicated to improving value and service by making the listing and information disclosure processes easier, whilst maintaining quality.

Meanwhile, Santiago Urquiza, President of Central de Corretajes (CENCOR), the group to which BIVA belongs, mentioned that “the market should grow and this has a direct impact on the country’s economic growth.”. Currently there are only 250,000 active accounts on the stock exchange and BIVA will seek to inform the retail market about the benefits of investing in equities in order to quadruple that number.

According to Urquiza, Mexico has a very active private equity market and within this new ecosystem, companies will seek an exit through the stock markets. Such is the case of BIVA itself, which has LIV Capital as one of its main shareholders, so that, through its CKD, in which Afore Citibanamex, Afore Pensionissste, Afore Coppel and Profutro invested, “over 20 million Mexicans, or one in four adults, is a BIVA shareholder.”

Urquiza added that “the market has a lot of potential. The companies we are looking at are medium-sized companies from different sectors,” and went on to comment that after the political uncertainty that the country experienced prior to the elections, the foundations are being laid to see IPOs in the country once again.

The event was attended by the (SHCP) Secretario de Hacienda y Crédito Público (Finance Minister), José Antonio González Anaya, who commented that: “The stock market is and has been a fundamental engine for Mexico’s growth. Today a fundamental action becomes a reality. The entry of a new competitor is a crucial step and I believe that the players complement each other in order to grow and to create a securities market for all.” Also attending wereBernardo González Rosas, President of the National Banking and Securities Commission (CNBV), José Ramón Amieva, Mexico City’s Head of Government, José Méndez Fabre, President of the Mexican Association of Stock Market Institutions (AMIB), and Juan Pablo Castañón Castañón, President of the Business Coordinating Council (CCE), who mentioned that: “We are living in a historic moment… competition is always healthy… in view of the new challenges that we face as a country today, having access to competitive financing becomes a platform for the country’s growth”.

Among the congratulatory messages, which included a video with messages from various stock exchanges around the world, Eduardo Carrillo Madero, Chairman of the Board and CEO of Finamex Casa de Bolsa, told Funds Society: “At Finamex Casa de Bolsa, we congratulate (BIVA), Bolsa Institucional de Valores on their start of operations today in our country, something that excites us because we will have the opportunity to continue being an ally, with the courage to support people’s financial education. Likewise, we are very proud of having being at the forefront of this new source of corporate financing, which provides another option for investors. We wish BIVA much success in its operations.” George Boone of EDM added that he is confident that BIVA’s entry will help to broaden the local market. Meanwhile, President Enrique Pena Nieto wrote in his twitter account: “Today was the start of operations for BIVAMX, the new Institutional Stock Exchange that is the result of the #Reforma Financiera (Financial Reform). With state-of-the-art technology, this Stock Market will support Mexican companies and entrepreneurs so that they can grow and develop.”

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