Mexican Second Stock Exchange Starts Operation In 2018

The second stock exchange, Institutional Stock Exchange that is more commonly known by its Spanish acronym called as BIVA, in Mexico target commencement date of operations by the start of 2018 according to the new exchange president on Monday. It hopes to get the existing market in the second top economy of Latin America against the Mexican Stock Exchange also known as BMV or BOLSAA.MX.

The president of BIVA sees the prospect in the new public offering from companies with an annual sales ranges between 500 million pesos ($28 million) and 21 billion pesos ($56 million). They are said to be supported by the technology from Nasdaq which is the second-biggest U.S. exchange and accessed by more than 70 markets worldwide.

It is predicted by the president of the financial infrastructure provider, CENCOR, that the volume of publicly traded companies in the country will significantly increase as much as 30 percent to 200 percent in three years time while the daily volumes could rise close to 50 percent to 20 billion pesos in Mexican stocks.