Capital Markets

Mexico’s stock exchange (Bolsa Mexicana de Valores, BMV) was heavily influenced by global trends during the course of 2014, marked by a high degree of volatility, geopolitical worries, concerns over future interest rate movements, and a somewhat mixed attitude to risk-taking. In Mexico, enthusiasm over the structural reforms was tempered in the fourth quarter of 2014 by worries over the impact of lower international oil prices. The BMV ended 2014 with market capitalisation of $480.2bn, down 8.7% in dollar terms, and remained somewhat subdued in the first quarter of 2015, with total market capitalisation rising about 1.3% in nominal terms to MXN7.1trn. Even so, given political uncertainties in Brazil, Mexico was the most active equity market in Latin America, accounting for around 40% of Latin America’s total trading volume.

This chapter includes an interview with Jaime Ruiz Sacristan, President, Bolsa Mexicana de Valores (BMV).