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On Wednesday, the second Mexican stock exchange called Bolsa Institucional de Valores (BIVA) began operations, but what will be the main functions of this new financial institution?
For over 40 years, there was only one stock exchange in the domestic market which was the Mexican Stock Exchange (BMV). This company was the only actor of this type during this period, however, before the coexistence of three stock exchanges in Mexico, one located in the capital of the country, another in Monterrey and the third in Guadalajara .
The new BIVA is a private company whose main owner is Santiago Urquiza and who also participated in the fund LIV Capital, which contributed part of the initial investment of one billion pesos for start up operations.
[19659003] Among the main functions of the new stock exchange such as BIVA will allow the trading of stock, debt, equity and other instruments to through their systems . For each of the operations of buying and selling these securities, the stock exchange charges a commission
Another activity of the new stock market will be to seek new listings of shares or debt securities of Mexican companies and foreign, including investment funds, CKD, Fibers and other possible issuers.
Companies that made their debut with shares in Mexico will pay BIVA for registration fees and annual maintenance fees as they do with the BMV. Here, the advantage of the new stock market, according to its own managers, is that it will give lower or more competitive prices compared to the BMV .
The exchanges also receive quotas for the registration of debt instrument stations based on a percentage of the principal amount issued and the current listing. Differences in price, attention and security will be part of the attractions of BIVA
With the arrival of a new competitor in the market, companies can decide whether they are listed in BIVA or in the BMV
. BIVA expects the first issuer to make its debut this year and the institution wants to snatch 50% of the market from the BMV
JA
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