The executive director of BIVA, María Ariza, said that he did not agree with the comments made by his counterpart, the director of the Mexican Stock Exchange (BMV), Oriol Bosch, in the sense that the dispute between both stock exchange institutions has been a factor that has stopped the arrival of companies to the market of shares in Mexico.
Since BECAUSE started operations in 2018said Ariza, the market as such has grown remarkably in terms of the total volume traded by 40 percent, 25 new companies have entered the debt capital market, in addition to 4 share issues (one corporate and 3 partnerships: one real estate, 2 infrastructure) and 14 structure vehicles for private capital.
In addition, retail investors have grown 14 times, when growth had not been shown for 25 years, Ariza said.
The comments arose from a specific question regarding the publication of an exclusive interview with Bloomberg Businessweek México with Oriol Bosch, general director of the Mexican Stock Exchange, in which the executive commented that BIVA changed from having an initial intention of complementing the market, to one of competing directly with the company he represents, which deteriorated the stock market environment in the country, —in addition to the impact caused by the pandemic and a government that does not promote investments—, factors that contributed to the paralysis in the issuance of shares.
Finally, María Ariza added that BIVA is leading efforts to lobby for regulatory changes to address structural problems in Mexico.
“We are working on the supply side, on the demand side, on the fiscal side for the entire market, not for BIVA, but for Mexico,” said Ariza.
“Only 1 percent of large companies are listed. It’s not BIVA’s fault, there are important issues to resolve on the supply and demand side that we are addressing,” added the BIVA representative.
