Capital Markets

While corporate bond issuances have only expanded at a moderate rate, Mexico’s sovereign bond market has long been a central component of the bourse’s activity, attracting a growing volume of foreign players. An assortment of new structured products launched over recent years has helped channel market investment towards infrastructure development in areas such as transport and energy. Despite external challenges, the Mexican Stock Exchange has proven effective at introducing innovative products and keeping investors interested in what is on offer. While higher interest rates expected over 2018 and 2019 may make some new products less appealing, the diversification brought about by special purpose acquisition companies, real estate investment trusts, first investment project certificates and development capital certificates is likely to attract new investors and help bridge the gap between capital market utilisation and financing the country’s economic needs. This chapter includes interviews José Oriol Bosch Par, CEO, Mexican Stock Exchange; and Santiago Urquiza Luna-Parra, President, Institutional Stock Exchange.