ULLINK Targets Mexico with Support for New BIVA Exchange
Latest development extends ULLINK’s global market coverage and confirms commitment to Latin America region
NEW YORK, 28 September 2017 – ULLINK, a global provider of electronic trading and connectivity solutions to the financial community, announced today that it has completed development and successful order routing tests for a new market access gateway to the Bolsa Institucional de Valores (BIVA) in Mexico. The new gateway provides ULLINK customers with electronic access to trade all the securities that will trade on BIVA and the established Bolsa Mexicana de Valores (BMV) exchange when BIVA goes live. Ullink already provides access to BMV.
The project to establish a new exchange in Mexico started in 2013, when CENCOR (Central de Corretajes SAPI de CV) – a group of companies focused on the development of financial markets in Mexico, USA and Latin America – presented the idea to Mexico’s Ministry of Finance. The application to organize and operate the new BIVA market was presented in October 2015, and the market was finally approved on August 29 2017. BIVA will have a secondary registry of securities and will allow those to trade on both exchanges from “day one”. It will operate under the same rules as Mexico’s existing stock market, BMV.
BIVA’s Chief Operating Officer, Rodrigo Velasco, commented, “As we prepare for the imminent launch of BIVA, it is very important we work closely with technology providers to ensure their solutions will integrate seamlessly. We are delighted to welcome Ullink, one of the leading providers of connectivity and trading solutions.”
ULLINK’s Chief Product Officer, Richard Bentley, added, “We are very excited to be working with BIVA, and the opportunities this presents for our customers in Mexico, Latin America and beyond. This development has potential to radically change the trading landscape and will spur further innovation, in areas like pre-trade risk and best execution, and we are well placed to serve the changing needs of market participants.”
ULLINK provides a full suite of connectivity, low touch and high touch trading solutions to more than 1500 customers world-wide. The Smart Order Routing and Pre-Trade Risk solutions were recently recognized as best-in-category at the 2017 Intelligent Trading Awards, as voted by actual users of trading technologies. The addition of the BIVA gateway extends ULLINK’s catalog of more than 100 market access gateways covering equities, derivatives, FX and fixed income asset classes.
Sofía de Ovando / Beatriz Bárcena Media and Marketing
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Bolsa Institucional de Valores (BIVA) is a Mexican authorized stock exchange since October 2017. The company will provide local and global investors with cutting-edge technology for trading, listing, maintenance as well as market data solutions.
Starting in the first quarter of 2018, using technology powered by Nasdaq, BIVA will offer low latency trading solutions across a diverse range of products in the Mexican equity asset class which includes common stocks, real estate investment trusts (FIBRAS), development capital certificates (CKDs) and international securities listed in the International Quotations System (SIC), among others. BIVA also offers a wide array of solutions for listed companies, and those who wish to become public in the Mexican market. BIVA provides real time and historical market prices and reference data to investors worldwide through its information solutions.
The company is headquartered in Mexico City, for more information, (sin coma) visit www.biva.com.
BIVA is part of CENCOR
Central Corretajes S.A.P.I. de C.V. (CENCOR) has developed infrastructure for financial markets in Mexico, the United States and Latin America. The companies comprising this group are: Enlace, Proveedor Integral de Precios (PiP) and Mercado Electronico Institucional (MEI).