2024: A Year of Progress and Innovation at the Mexican Stock Exchange

Looking back on 2024, we reflect on the achievements and milestones that have shaped the Mexican Stock Exchange (BMV). Last year was pivotal, marked by innovation, strong operational growth and a deep commitment to sustainability and financial inclusion. Through strategic initiatives, technological advancements and a focus on market efficiency, BMV Group strengthened its position as a leading financial institution in Mexico and Latin America. 

Key Achievements in 2024 

Listed Debt Market Growth 

The Mexican debt market had a particularly strong year in 2024, with 1,316 short-term debt issues amounting to 284 billion pesos (14 billion USD), mainly from the automotive and financial sectors. In addition, there were 75 long-term debt issues totaling 261 billion pesos, demonstrating the market's vitality and growth. 

Expansion of International Trading 

BMV continued to grow its global equities market, listing 205 foreign products, including companies such as Prada, Birkenstock, Lenovo and Budweiser. This expansion provided investors with access to a broader range of global opportunities, further enhancing Mexico’s financial market offerings. 

Derivatives Market Development 

Volatility from interest rate cut cycles of the Federal Reserve (FED) and Banco de México (Banxico) benefited the derivatives market. By November 2024, Mexican Derivatives Exchange (MexDer), had executed 12,132 contracts valued at 3.4 billion pesos (167 million USD). A significant change in this market was the transition of Swaps from TIIE 28 to Funding TIIE, a new overnight benchmark aligned with international standards. This move improved liquidity, transparency and certainty for market participants. 

Technological Innovation in Post-Trade Operations 

In May 2024, BMV launched a project to overhaul its Post-Trade technological ecosystem, integrating Nasdaq platforms to improve operational efficiency. This upgrade focused on enhancing user experience, including new products and technologies. The project aimed to provide better access to market data, empowering investors with more informed decision-making tools. 

Disaster Recovery and Platform Reliability 

BMV also placed significant emphasis on platform reliability. We achieved 100 percent continuity in our operations, ensuring no critical incidents in equity and derivatives markets. This test highlighted BMV’s leadership in maintaining robust operational resilience. 

Shift to T+1 Payment Cycle 

One of the most notable changes in 2024 was the adoption of the T+1 payment cycle for capital markets, aligning Mexico with US and Canadian standards. This shift, implemented ahead of Mexico’s local elections in June, led to a reduction in guarantee requirements by 32 percent. It further decreased non-compliance levels, that are now less than 1 percent of the traded amount. This change placed Mexico among the first countries globally to adopt this cycle and reinforced BMV’s commitment to international best practices. 

Sustainability and ESG Commitment 

Sustainability was a cornerstone of BMV’s strategy in 2024. Nearly 30 percent of long-term debt at the exchange has an Environmental, Social and Governance (ESG) component and promotes socio-environmental projects. BMV reinforced its leadership in the sustainable bonds market and took part in the seventh edition of its Sustainable Support Program, which educates companies and their supply chains on ESG issues. 

The exchange also made strides in measuring its environmental impact by working on CO2 emission-reduction strategies. It was recognised for its efforts. BMV was named one of the 15 Mexican companies in the S&P Global Sustainability Yearbook for the second consecutive year and awarded second place by ALAS20 as a leader in sustainability. 

Financial Education Initiatives 

Financial literacy was a priority in 2024. BMV continued to empower individuals to make informed investment decisions. The Hablemos de Bolsa blog received more than 3.7 million views, while the digital magazine ACCIONES garnered more than 16,000 views. Additionally, the Stock Exchange Museum celebrated its fifth anniversary and welcomed more than 28,000 visitors. The mobile app “Bolsapp” was upgraded to version 2.0. The updated app has new features to enhance the user experience and increase engagement and now has almost 20,000 subscribers. 

Looking Ahead: 2025 and Beyond 

With 130 years of experience, the Mexican Stock Exchange is in a transformative phase. BMV is poised to enhance Mexico’s stock market further and aims to become more competitive while  supporting economic development. Our mid-term strategy is built around six key initiatives: 

• New Products and Services  BMV is focused on strengthening and leveraging its Post-Trade infrastructure, including Indeval, Asigna and CCV, and introducing a new fixed income clearing house (CCP). This will improve efficiency, promote the electronic bond market and streamline operations. 
• Investment in Advanced Technology  BMV will continue to invest in cutting-edge technologies to optimise its operations and ensure greater security and transparency for issuers and investors. 
• Expansion of Market Data BMV plans to expand its market data offerings, ensuring that both investors and issuers have access to timely and accurate information for decision-making. 
• Retail Market Strategy BMV aims to increase retail-investor participation, especially among younger generations, by offering customised financial education and improving access to stock market tools and services. This initiative seeks to strengthen Mexico’s financial culture. 
• International Presence BMV will continue to collaborate with international markets and participants. Cross-listing and facilitating derivative trading with foreign markets are key to boosting BMV’s global appeal. 
• Focus on Long-term Sustainability BMV will promote sustainability and inclusion. Internally, BMV is working to foster sustainability practices while providing attractive investment opportunities in companies that align with sustainable criteria. 

In conclusion, 2024 was a year of remarkable progress for the Mexican Stock Exchange and 2025 promises to be transformative. BMV is committed to strengthening Mexico’s stock market, supporting projects that promote economic growth and create employment opportunities.  

By focusing on these initiatives, BMV aims to maintain its leadership and enhance its global competitiveness in the financial sector. With this clear strategy in place, BMV is poised to grow, innovate and is committed to Mexico's financial future.