MEXICO CITY, May 14, 2015 /PRNewswire/ -- The Mexican Stock Exchange (BMV) and S&P Dow Jones Indices (S&P DJI), one of the world's leading providers of financial market indices, today announced that they have signed an agreement to license all of the BMV indices including their flagship index, IPC (Indice de Precios y Cotizaciones) - the broadest indicator of the BMV's overall performance. A signing ceremony was conducted at the Exchange earlier today.
This agreement aims to achieve an integration of operational processes between the institutions, a business strategy which allows for the expansion of clients globally, and the development and licensing, distribution and administration of new indices. In addition, the indices will be governed by an index committee composed of employees from both S&P DJI and BMV, which will sponsor the adoption of international practices.
According to the agreement, the BMV will transition the index calculation of its indices to S&P DJI over time ensuring a smooth transition that will have minimal impact to existing and new clients. S&P DJI will be responsible for the commercial licensing of the indices and the end-of-day data while the BMV will continue to commercialize real-time index data. As part of the agreement, all current BMV indices will be co-branded S&P/BMV.
A signing ceremony took place today at the Exchange and was attended by Jose-Oriol Bosch Par, the General Director (CEO) of the Grupo BMV and Alex Matturri, the CEO of S&P Dow Jones Indices.
"Today is a very exciting day for S&P Dow Jones Indices as we officially embark on our joint strategic initiative with the BMV to bring a deeper lineup of index choices to the Mexican financial markets," says Alex Matturri, CEO of S&P Dow Jones Indices. "Combining the BMV's internationally recognized benchmarks with the global marketing, commercial licensing, and calculation prowess of S&P Dow Jones Indices will result in a new era of index based measurement and investing in Mexico."
Moreover, Jose-Oriol Bosch commented, "We are very pleased to execute this agreement, associating the BMV with a global company with extensive experience in the creation and administration of financial market indices. We already have a similar agreement for fixed income indices through Valmer, and now via this agreement, will be able to leverage the distribution, capacity, and reach of S&P Dow Jones Indices' internationally recognized brand and indexing capabilities."
About S&P Dow Jones Indices
S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world's largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®, S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of investors. More assets are invested in products based upon our indices than any other provider in the world. With over 1,000,000 indices covering a wide range of asset classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit www.spdji.com.
S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("S&P"), a part of McGraw Hill Financial. Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). These trademarks have been licensed to S&P Dow Jones Indices LLC. It is not possible to invest directly in an index. S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates (collectively "S&P Dow Jones Indices") do not sponsor, endorse, sell, or promote any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. This document does not constitute an offer of services in jurisdictions where S&P Dow Jones Indices does not have the necessary licenses. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties.
About BMV Group
BMV Group is a fully integrated Exchange Group that operates cash, listed derivatives and OTC markets for multiple asset classes, including equities, fixed income and exchange traded funds, as well as custody, clearing and settlement facilities and data products for the local and international financial community.
BMV is the second largest stock exchange in Latin America with a total market capitalization of over US$ 530 billion.
SOURCE S&P Dow Jones Indices