Lombard loans on the BMV.
Private credit against Bolsa Mexicana de Valores-listed shares — pledged, not sold.
A Lombard loan against BMV-listed shares is credit secured by a pledge of equity listed on the Bolsa Mexicana de Valores. The holder pledges the shares, draws cash against a fraction of their market value, retains ownership and dividends subject to structuring, and recovers the position on repayment.
- Facilities are arranged against equity listed on the Bolsa Mexicana de Valores (BMV), Mexico City.
- The pledge preserves ownership, dividends, and the upside for the holder.
- Loan-to-value is set per line; funded in MXN or cross-currency.
- Structured under CNBV, with disclosure from 10%.
The venue
Mexico's principal equity exchange, with the SIC system providing local access to internationally listed securities. The market is concentrated by sector and issuer count, which sharpens eligibility analysis for large positions.
Regulator and disclosure
The Bolsa Mexicana de Valores operates under Comisión Nacional Bancaria y de Valores (CNBV). Ley del Mercado de Valores disclosure of interests at 10% and at every additional 5% above. A pledge over a substantial line is arranged with that reporting regime in view, so that the facility is both discreet and compliant, and so that positions near a control or takeover threshold are not disturbed.
Structuring a facility here
Lombard facilities against BMV-listed shares are typically arranged for a tenor of twelve to thirty-six months, funded in MXN or another currency on a cross-currency basis, with the collateral held by a qualified custodian under bankruptcy-remote arrangements. Non-recourse, limited-recourse, and full-recourse structures are available; the choice interacts with the loan-to-value and the spread.
| Exchange | Bolsa Mexicana de Valores (BMV) |
|---|---|
| City · Country | Mexico City · Mexico |
| Regulator | Comisión Nacional Bancaria y de Valores (CNBV) |
| Disclosure | From 10% |
| Principal indices | S&P/BMV IPC |
| Segments | Capital market main board; SIC (international quotation system) |
| Currency · Tenor | MXN · 12–36 months |
| Recourse | Non-recourse / limited-recourse / full-recourse |
Financing a position listed on the BMV?
Request terms →See also the country overview: Lombard loans in Mexico.
Other exchanges in the region.
On this market, specifically.
Liquidity and the index
The Bolsa Mexicana de Valores centres on the S&P/BMV IPC, a focused benchmark of the market’s most liquid names. Because the market is concentrated both by sector and by issuer count, day-to-day liquidity clusters in a relatively small set of large-caps, so the depth of the specific line is the key read when sizing a pledge. The SIC international quotation system also lets locally held international securities trade on-venue. For a large domestic large-cap, free float and concentration — more than aggregate turnover — tend to frame how a Lombard loan is calibrated.
Structuring notes
The BMV’s SIC — its international quotation system — is the notable structuring feature: it gives local access to internationally listed securities, so a client’s Mexican custody may hold both domestic and foreign lines, with a bearing on where a pledge is documented. Settlement runs through the Mexican infrastructure, and the pledged shares are held by a qualified custodian so ownership is preserved. The Lombard credit is arranged so the stepped disclosure under the Ley del Mercado de Valores — at 10% and each additional 5% — is respected, and can be funded in MXN or in USD on a cross-currency basis.