Ullink connects to new Mexican exchange Biva
28 September 2017 | 2868 views | 0
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.”