BMV, grows competing

The president of the Mexican Stock Exchange, Marcos Martínez is optimistic about the economic outlook for next year 2022.

Based on analysts’ forecasts, he foresees higher growth, with a rate of at least 3%, as long as Covid-19 “does not spoil the party” and the recovery trend of the US economy continues.

In addition, its positive expectations are based on the Mexican government’s spending budget of more than 7 billion pesos.

However, it is clear that the Mexican capital market has remained static for many years.

It does not have many clients and does not register much growth, although by virtue of new technologies, intermediaries, that is, brokerage houses are managing to attract more clients. This is the case of GBM, which has entered the market with 1 million new clients. And Actinver has attracted 80 thousand more clients. But beyond the old challenges, and in the face of the competition represented by the Institutional Stock Exchange (BIVA), the truth is that according to figures from the BMV itself, it has grown, competing. The market share of stock exchanges by amount traded went from 87 percent of the BMV to 92.32 percent, from January 2 to December 9, of the current year.

While Biva decreased from 13 percent to 7.68 percent for the same periods compared.

Another interesting fact is that the custody of shares listed on the BMV registered an increase of 31.7%, from the third quarter of 2020 to the third quarter of 2021.

And international custody increased by 43%, going from 50.7 million dollars to 72.4 million dollars from September 2020 to September 2021.

For director José Oriol, the BMV is far from the percentage of investors registered in developed markets.

The pending issue, he acknowledges, continues to be the increase in issuers and the attraction of a greater number of investors.

Martínez and Oriol recognize that the competition has been positive because it has forced them to be more efficient. But despite all the competition, the Mexican market has not evolved, and one of the factors required for it to achieve further development is to have a more even pitch.

That is why we are working with the authorities to advance in that sense and move forward. The Mexican stock market has enormous potential that you should take advantage of.

Marcos Martínez believes that the one who must define how much competition is required is the market itself. If the market considers that 3 or 4 bags are required, that number would have to exist. As long as the market requests it. Oriol warns that it is necessary to work on the regulatory issue to match the rules of the stock market with those of the fintech companies. That would be a big step to facilitate the growth of both issuers and investors.

Decree, unstoppable

The classic. Two news. The good and the bad.

The good news is that the Supreme Court of Justice of the Nation admitted the constitutional controversy filed by the National Institute of Transparency, Access to Information and Protection of Personal Data (INAI) against the presidential “decree”, with which they are considered of public interest and national security all works of the federal government.

The SCJN halted the effects of the agreement to shield information related to priority government works.

The bad news is that the Court refused to stop the decree. The speaker minister Juan Luis González Alcántara denied the suspension requested by the INAI with which he sought to prevent the federal government from carrying out works and projects associated with various sectors through direct award. In other words, the decree, or agreement as they called it, is not only in force, from the day of its publication in the Official Gazette of the Federation, but it seems unstoppable.

At least until the SCJN analyzes it and resolves the merits of the constitutional controversy filed by the INAI.

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Marco A. Mares


Rich and powerful

He has worked continuously in newspapers, magazines, radio, television and the Internet, in the last 31 years he has specialized in business, finance and economics. He is one of the three hosts of the Alebrijes, Águila o Sol program, a program specializing in economic issues that is broadcast on Foro TV.

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