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MarketScreener Homepage  >  Equities  >  Nyse  >  McGraw Hill Financial Inc    MHFI

MCGRAW HILL FINANCIAL INC

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S&P DJI, Mexican Stock Exchange Sign Indexes Agreement

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05/15/2015 | 12:14pm EDT
   By Anthony Harrup 
 

MEXICO CITY--Index provider S&P Dow Jones Indices is joining forces with Mexico's stock exchange operator Bolsa Mexicana de Valores SAB (BOLSA.MX) to license and develop local market indexes, including the benchmark IPC stock index, in an effort they expect will foster global interest in the market.

The agreement signed late Thursday follows others in Latin America for S&P DJI, including one earlier this week with the Brazilian exchange BM&Fbovespa.

"We see the region as a whole as being an interesting area for us. It's still much earlier days than say Europe and Asia, but growing quite nicely in terms of the sophistication of the investors," S&P DJI Chief Executive Alex Matturri said in an interview.

Part of S&P DJI's strategy has been to expand through partnerships with local exchanges, and Mexico is probably one of the more sophisticated markets in Latin America with an extensive pension fund system already investing in exchange-traded funds, he said. "It's an attractive market on its own."

The Mexican stock market has around 130 listed companies, with a capitalization at the end of 2014 of $486 billion. The IPC index measures the 35 most-traded stocks on the market.

The local exchange currently calculates around 200 indexes, and has 15 tracking funds linked to its indexes.

S&P DJI, part of McGraw Hill Financial Inc. (>> McGraw Hill Financial Inc), will gradually take over calculation of the indexes, and will be responsible for commercial licensing of them under a revenue-sharing arrangement. The Mexican exchange will continue calculating real-time index data.

Local market indexes will be co-branded as S&P BMV. Co-branding helps local exchanges to gain global recognition, Mr. Matturri said.

Write to Anthony Harrup at anthony.harrup@wsj.com

Stocks mentioned in the article : McGraw Hill Financial Inc
Stocks mentioned in the article
ChangeLast1st jan.
BOLSA MEXICANA DE VALORES, S.A.B. DE C.V. 1.16% 38.45 End-of-day quote.14.81%
DJ INDUSTRIAL 0.16% 26816.21 Delayed Quote.14.76%
MEXICO IPC -0.71% 43146.82 Real-time Quote.4.26%
NASDAQ 100 0.80% 7935.082634 Delayed Quote.25.47%
NASDAQ COMP. 0.87% 8161.136616 Delayed Quote.22.93%
S&P 500 0.59% 3006.06 Delayed Quote.19.12%
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Managers
NameTitle
Douglas L. Peterson President, Chief Executive Officer & Director
Charles Edgar Haldeman Non-Executive Chairman
Ewout L. Steenbergen Chief Financial Officer & Executive Vice President
Nicholas Cafferillo Chief Data & Technology Officer
Sitarama Swamy Kocherlakota Chief Information Officer
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