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Mexico Said to Prep New Rule to Route More Bids to Biva Exchange

  • Regulator set to post rules for comment as soon as next week
  • New draft follows earlier version that sparked broker backlash

Mexican regulators are set to propose new rules that would require brokerages to channel more bids to a struggling, upstart stock exchange, according to people familiar with the matter.

The draft, set to be published as soon as next week for public comment, will benefit Biva, which launched in 2018 in a challenge to the Bolsa Mexicana de Valores SAB, previously the country’s only bourse, the people said, requesting anonymity because talks are private. Biva had just 8% of trading volume in July, down from a peak of almost 16% in late 2019.