Bolsa Mexicana de Valores Adopts Bloomberg Open SymbologyPosted on May 5, 2014
BMV is first Latin American exchange to embrace Bloomberg’s free and open system for naming financial securities
Bolsa Mexicana de Valores S.A.B. de C.V. (BMV) announced today it will use Bloomberg’s Global Identifier, or BBGID, for identifying its more than 6,000 listed securities, including common stock and funds.
The BBGID is part of Bloomberg’s Open Symbology, which is a system for classifying and naming financial securities. In response to market demand for open systems and symbology, Bloomberg made the BBGID available to the global financial markets through Bloomberg’s Open Symbology (BSYM) website with no material restrictions on usage. The BSYM initiative helps financial institutions, such as exchanges, enhance data integration, transparency, and uniformity.
“In keeping with our ethos of leadership in innovation, we adopted Bloomberg’s securities identifiers for listed instruments in order to ease information access for national and international investors who trade on BMV,” said Jorge Alegria, Senior VP Markets and Information at BMV, in Mexico City. “We are committed to driving efficiencies in the local market, and we offer the highest accessibility to the listed securities keys with the objective that characterizes this exchange: promoting transparency and timely information,” he stated.
The BBGID is a 12‐digit alphanumerical code that covers active and inactive securities across global asset classes. It covers 180 million active and inactive securities globally and is available free of licensing fees or material impediments to usage.
“The Bloomberg identifier system is ideal for securities exchanges because the BBGID is assigned at the exchange level, which eliminates the need to use multiple codes to identify a listed instrument. Furthermore, once assigned, the BBGID never changes,” said Peter Warms, global product manager for entity content, corporate actions and symbology. “Exchanges and data providers find that using Bloomberg’s open symbology, instead of a mix of proprietary securities codes, helps reduce costs and redundant data mapping processes.”
The BMV joins more than 20 exchanges worldwide already using BBGID, including the New York Stock Exchange (NYSE), the Canadian Nation Stock Exchange (CNSX), and the National Stock Exchange of Australia (NSX).
About the BMV Group
The BMV Group is comprised by companies which jointly offer financial services and products whose applications, development, operation and management is fully integral. Through the modern technological and state of the art infrastructure of every company within the BMV Group, the operations of the organized market of capitals, debt, derivatives, OTC markets and other financial assets is conducted. Additionally, information of the operational capacity in the different markets and instruments, as well as the companies trading in them is processed, offered and distributed. It develops, calculates and disseminates different stock market indexes. Financial assets valuation processes and pricing procurement are supplied. It provides custody and liquidations, as well as clearing houses services pro the stock and derivatives markets. The companies comprising the BMV Group are: Bolsa Mexicana de Valores, S.A.B. de C.V. (BMV); Mercado Mexicano de Derivados, S.A. de C.V. (MexDer); S.D. Indeval, S.A. de C.V., Institución para el Deposito de Valores (Indeval); Valuación Operativa y Referencias de Mercado, S.A. de C.V. (Valmer); Asigna, Compensación y Liquidación, S.A. (Asigna); Contraparte Central de Valores de México, S.A. de C.V. (CCV); SIF ICAP, S.A. DE C.V. (SIF ICAP); Bursatec, S.A. de C.V. (Bursatec); InterGloval BMV, S.A. de C.V. (InterGloval).
Bolsa Mexicana de Valores
Market Data & Indices, Director