Bolsa Mexicana de Valores SAB de CV
BMV:BOLSAA
Bolsa Mexicana de Valores SAB de CV
Bolsa Mexicana de Valores SAB de CV operates as a financial services company. The company is headquartered in Cuauhtemoc, Mexico, D.F. and currently employs 460 full-time employees. The company went IPO on 2008-06-13. The firm's activities are divided into six business segments: Stock Exchange, operating the Mexican stock exchange; Derivatives, listing and trading future and option contracts; Brokerage, providing brokerage services for securities enrolled in the National Securities Registry; Settlements, offering clearing and settlement services for financial and commodities derivatives and securities transactions; Custody, providing custody services related to securities clearing and settlement, and Others, including news and information technology (IT) services, among others. The firm operates through a number of subsidiaries, such as Contraparte Central de Valores de Mexico SA de CV (CCV), Mercado Mexicano de Derivados SA de CV (MexDer), SIF ICAP SA de CV (SIF ICAP) and Valuacion Operativa y Referencias de Mercado SA de CV (Valmer).
Bolsa Mexicana de Valores SAB de CV operates as a financial services company. The company is headquartered in Cuauhtemoc, Mexico, D.F. and currently employs 460 full-time employees. The company went IPO on 2008-06-13. The firm's activities are divided into six business segments: Stock Exchange, operating the Mexican stock exchange; Derivatives, listing and trading future and option contracts; Brokerage, providing brokerage services for securities enrolled in the National Securities Registry; Settlements, offering clearing and settlement services for financial and commodities derivatives and securities transactions; Custody, providing custody services related to securities clearing and settlement, and Others, including news and information technology (IT) services, among others. The firm operates through a number of subsidiaries, such as Contraparte Central de Valores de Mexico SA de CV (CCV), Mercado Mexicano de Derivados SA de CV (MexDer), SIF ICAP SA de CV (SIF ICAP) and Valuacion Operativa y Referencias de Mercado SA de CV (Valmer).
Revenue Growth: Total revenues reached MXN 1.1 billion, up 4% year-over-year, mainly driven by post-trade services, securities custody, and growth in information services and listings.
Margin Resilience: EBITDA margin stayed solid at 57%, with EBITDA up 2% YoY, though management expects margins could come down next year before recovering by 2027.
Net Income Drop: Net income for Q3 was MXN 393 million, down 4% YoY, primarily due to lower financial income after Banxico's rate cuts.
Major Investments: CapEx is running higher than expected, with plans to exceed MXN 250 million in both 2025 and 2026, as the company invests heavily in technology and infrastructure.
Debt CCP Launch: BMV received regulatory approval for its bond CCP, with the first trades expected by late November; a major repo CCP launch is targeted for end-2026.
Market Share Stable: Equity trading market share remained stable at 78–80% despite competitive fee pressures, and no immediate plans to cut trading fees.
Buyback Strategy: The buyback program is resuming, with activity tied to share price levels and balancing with dividend payouts amid high CapEx.
