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Financial News: MEXICO: Government Authorizes Creation Of Second Stock Exc

MEXICO: Government Authorizes Creation Of Second Stock Exchange

08/30/2017 - 18:13:00 (RTTNews)

(RTTNews) - The Mexican government authorized Cencor's financial services company to operate the Institutional Stock Exchange (Biva), which is expected to launch its operations in early 2018, competing with the Mexican Stock Exchange.

Mexican Finance Minister Jose Antonio Meade said that the country's stock market is the second largest in Latin America in capitalization, but has fewer listed companies compared to Brazil and Chile, which means that there is room for growth.

The Mexican stock market has 145 listed companies and capitalization of around US$ 418 billion, which is equivalent to 37% of the country's Gross Domestic Product (GDP), according to official data. These companies will have the option of listing their shares on any of the two exchanges.

The Mexican government intention, according to Meade, is to boost the local financial market and attract investors and companies to the country.

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