The Mexican Stock Exchange Group’s income for the first quarter of 2024 decreased compared to the first quarter of 2023, amounting to 967 million pesos, which represented an annual drop of 7.0 percent.
In its financial report at the end of the first quarter of 2024, the stock exchange entity explained that during the first quarter of the year, the exchange rate reached a minimum and maximum in the quarter of 16.7 and 17.4 pesos per dollar, respectively and closed at 16.7 in March. Likewise, Inegi reported an annual inflation rate of 4.42 percent and the Bank of Mexico registered the target interest rate at 11 percent. For its part, in the United States the Federal Reserve (Fed) maintains the reference interest rate in a range between 5.25-5.50 percent. In this context, the BMV Group’s income decreased in the first quarter compared to the first quarter of 2023.
Income from information services reported an annual drop of 15 percent; those of the Mexican Derivatives Market (MexDer) fell 14 percent; Capital operations fell 10 percent, mainly.
Meanwhile, inflows from listing fees on the Mexican Stock Exchange increased 49 percent in the first quarter compared to the same period in 2023, amounting to 15 million pesos, 5 million more compared to January-March 2023.
Net profit for the first quarter of 2024 was 375 million pesos, in line with the last three quarters.
Low operation
The average daily traded value on the BMV during the first quarter of 2024 was 14,556 million pesos, which represented a decrease of 21 percent compared to the first quarter of the previous year. The local market participated with 64 percent of the total average daily traded value in the BMV and the International Quotation System (SIC) global market with 36 percent.
The BMV’s market share in the first quarter of 2024 was 82 percent, while in the same period last year it was 85 percent. “It is important to note that in August 2022, regulatory changes were implemented in the allocation of operations of brokerage firms. Likewise, it is worth noting that the BMV recovered 2.0 percentage points of market share compared to the last quarter of the previous year.”
During the first quarter of 2024, total financing in the debt and equity market was 187 thousand 69 million pesos, 25 percent more than the same quarter last year.
The number of short- and long-term debt issues increased by 17 and 10 percent compared to the first quarter of 2023, respectively, with an amount placed higher by 25 and 14 percent, in that order, with which, the financing in The debt market amounted to 169,599 million pesos, marking a record in the Mexican Stock Exchange.
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– 2024-05-02 13:44:13
