Could there be a new stock exchange starting in Mexico?
According to a report in Reuters, a Mexico-based broker has proposed a competing stock exchange for the nation. The broker said it would seek permission to organize and operate the new stock exchange, the first to compete with the country’s established bourse Bolsa Mexicana de Valores.
Bolsa Mexicana de Valores lists the likes of America Movil, the telecoms company controlled by billionaire Carlos Slim, and cement maker Cemex.
The new proposed exchange, Bolsa Institucional de Valores, Reuters said would take advantage of Mexico’s recent financial reforms to offer an alternative with cheaper transaction costs, greater liquidity and technological innovation, according to the brokerage, Cencor.
The addition of a new exchange to the country’s marketplace, would likely increase competition, encourage competition and liquidity and could add an extra 30 percent of growth to the stock market, Cencor said.
