MEXICO CITY, June 7, 2017 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI"), the world's leading provider of index-based concepts, data and research, and the Mexican Stock Exchange (BMV), a public company since 2008 with more than 120 years of experience and a leading exchange in Latin America, announced today the successful transition of the BMV Indices. The indices have been rebranded to S&P/BMV.
The co-branded index family, which includes the flagship S&P/BMV IPC Index, the region's iconic financial benchmark, are calculated, maintained and distributed by S&P Dow Jones Indices as of June 5, 2017.
Most index methodologies within the S&P/BMV index family were updated through a public consultation process with members of the investment community, aligning the methodologies with international standards and providing access to global markets. The indices included in the process were:
- S&P/BMV IPC (Índice de Precios y Cotizaciones);
- S&P/BMV Mexico Index (INMEX);
- S&P/BMV Economic Activity Indices;
- S&P/BMV Investable Sectors;
- S&P/BMV FIBRAS;
- S&P/BMV IPC CompMX;
- S&P/BMV IPC LargeCap;
- S&P/BMV IPC MidCap;
- S&P/BMV IPC SmallCap; and
- S&P/BMV Dividend Index.
Additionally, the S&P/BMV Index Committee was created and is comprised of employees of both institutions. The Committee is responsible for governing the indices, monitoring general guidelines, policies and methodologies as well as index maintenance.
The S&P/BMV IPC Index underwent a public methodology review and the results were recently announced. The index will continue to be represented by the 35 largest, most-liquid stocks listed on the BMV. However, index constituents will be required to meet minimum size and liquidity criteria to be considered for inclusion. The index will be rebalanced semi-annually, in March and September. The complete methodology is available here.
"The strong relationship between S&P Dow Jones Indices and BMV is global example of how the complementary strengths of index providers and national securities exchanges can benefit market participants," said Alex Matturri, CEO of S&P Dow Jones Indices. "BMV has an influential presence in the region, and we are proud to unite our index licensing, calculation and distribution capabilities with BMV's long-standing knowledge for the expansion of index-based concepts and measurement of Mexico's capital markets."
"Our strategic partnership will promote global exposure of the Mexican indices while enhancing the customer base, this also represents an opportunity to increase trading flow to the Mexican markets as a result of the innovation of products and the creation of new investment assets," said José-Oriol Bosch, CEO of the Mexican Stock Exchange. "In addition, a renewed governance body will be responsible for implementing policies and practices in accordance with international standards."
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than based on any other provider in the world. With over 1,000,000 indices and more than 120 years of experience constructing innovative and transparent solutions, S&P Dow Jones Indices defines the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.
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.
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SOURCE S&P Dow Jones Indices