The Bolsa Mexicana de Valores and neighbouring towers on Paseo de la Reforma, Mexico City. File photo. (Photo: Juan Carlos Fonseca Mata, CC BY-SA 4.0, via Wikimedia Commons)

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MEXICO · MARKETS

Mexican Stock Exchange profit rose 1% in the third quarter, but earnings per share of 0.72 pesos (about US$0.04) missed the 0.74 forecast. The operator, Bolsa Mexicana de Valores, known as Grupo BMV, published the results on Tuesday 20 October 2026.

For US readers the numbers are a health check on the venue where foreign funds buy Mexican shares and peso bonds. The Mexican Stock Exchange group also posted a 22% jump in daily futures volume, a sign that hedging demand is rising as the peso strengthens.

What Grupo BMV Reported

Net profit for July to September came to 397 million pesos (about US$21.5 million), compared with 393 million pesos (about US$21.3 million) a year earlier. Revenue rose 5% to 1.16 billion pesos (about US$63 million), at about 18.44 pesos to the US dollar on 21 October 2026.

EBITDA, a measure of operating profit before interest, tax and depreciation, rose 2% to 635 million pesos (about US$34.4 million). The EBITDA margin slipped to 55% from 57%, because costs grew faster than sales.

Why Earnings Per Share Missed

Earnings per share, the profit attributable to each share, was 0.72 pesos (about US$0.04), up 2.3% from 0.70 pesos (about US$0.04) a year earlier. Analyst consensus was about 0.74 pesos (about US$0.04), so the Mexican Stock Exchange missed by roughly 3%.

Costs, rather than sales, held profit back. Costs rose 12% to 606 million pesos (about US$32.9 million), driven by staff, technology and depreciation tied to its digital evolution plan.

Derivatives and Custody Carry the Quarter

Derivatives revenue climbed 19% to 79.6 million pesos (about US$4.3 million), and average daily futures volume rose 22%. Futures on the US dollar reached a notional value of US$663 million for the quarter, up from US$474 million, as companies hedged a stronger peso.

Indeval, the central depository that holds Mexican securities, saw assets under custody reach 48.5 trillion pesos (about US$2.6 trillion), 11% above the end of June. Its revenue grew 4.8% to 367 million pesos (about US$19.9 million), and it supplies 32% of group revenue.

The Bank of Mexico, the central bank, in its historic building in central Mexico City. File photo, 2021. (Photo: ProtoplasmaKid, CC BY-SA 4.0, via Wikimedia Commons)

A Quiet Stock Market

Equity trading and clearing revenue dipped 0.9% to 137 million pesos (about US$7.4 million). Average daily trading in shares was 17.1 billion pesos (about US$928 million), up just 1%.

The company blamed weaker stock-market activity and the stronger peso, which averaged 17.42 per dollar in the quarter against 18.64 a year earlier. A stronger peso raises the dollar value of pesos earned, but a quiet market means fewer fees.

A First for Mexico’s Debt Market

The first issue under the new simplified regime, a faster and cheaper way to list, came in early October 2026. Adventus Capital, a non-bank lender, raised 560 million pesos (about US$30.4 million), according to El CEO, a Mexican business outlet.

The exchange also reported 88 long-term debt issues worth 267 billion pesos (about US$14.5 billion) in the first nine months of 2026. The biggest of the quarter was 20 billion pesos (about US$1.1 billion) of notes from the state power utility CFE.

Pension Funds Join the Debt Clearinghouse

CCV Deuda, the new central counterparty for Mexican bonds, now has 11 accredited clearing members, with 19 more joining. A counterparty stands between buyer and seller so that a trade settles even if one side defaults.

It handled its first trade in Mexican government peso bonds requested by a pension fund manager, Afore SURA. Chief executive Jorge Alegría said the deal shows the infrastructure can serve large institutional investors.

Cash, Dividends and Share Buybacks

Over nine months the group earned 1.24 billion pesos (about US$67.3 million), up 1%, and generated 1.68 billion pesos (about US$91.2 million) in operating cash. It paid 1.28 billion pesos (about US$69.5 million) in dividends and spent 161 million pesos (about US$8.7 million) buying back shares.

Cash stood at 3.65 billion pesos (about US$198 million) at the end of September. The tax rate fell to 29.3% from 31.1%, which helped profit.

What It Means for US Readers

Investors in Mexican stocks, peso bonds or funds that track them depend on the Mexican Stock Exchange, and rising futures use shows demand for hedging. For the day-to-day picture, see the Mexico market report of 20 October.

For a wider view of the country’s economy and its decision makers, see the Rio Times guide to who runs Mexico’s economy. The company’s Company Intelligence profile has the exchange’s background.

What Is Not Known

The Mexican Stock Exchange group has not said whether it will change its dividend policy. It has also not given a profit forecast for the fourth quarter.

How the share price reacted to the results is not yet clear. It is also not known whether the next simplified issue, possibly equity as early as November, will list here or on a rival.

More: Mexico news in English, every day from The Rio Times.

Frequently Asked Questions

What does Grupo BMV do?

The company behind the Mexican Stock Exchange runs Mexico’s main stock exchange, its derivatives market, the Indeval securities depository and the OTC broker SIF ICAP. It has been operating for 132 years, according to the company.

How much profit did the Mexican Stock Exchange earn in the third quarter?

Net profit was 397 million pesos (about US$21.5 million), up 1% on a year earlier. Revenue was 1.16 billion pesos (about US$63 million).

Why did earnings per share miss estimates?

Earnings per share were 0.72 pesos (about US$0.04) against a forecast of 0.74 pesos (about US$0.04). Costs at the Mexican Stock Exchange rose 12% while revenue grew only 5%.

What is the simplified issuance regime?

It is a faster listing process created by a reform of Mexico’s securities law, meant to bring smaller firms to the market. Adventus Capital made the first issue, raising 560 million pesos (about US$30.4 million).

How can US investors follow the stock?

The shares trade in Mexico under the ticker BOLSAA. US investors need a broker with access to the Mexican market.

Sources: Grupo BMV, third-quarter 2026 results press release, 20 October 2026; Grupo BMV, third-quarter 2026 earnings report, 20 October 2026; El CEO, 7 October 2026.

Editorial responsibility: Matthias Camenzind, Editor-in-Chief · Editorial standards · Report an error

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