BMV Nueva Clasificación Sectorial - The Industry Classification of the Mexican Stock Exchange (Catálogo y Emisoras Accionarias de la BMV)
The Clasificación Sectorial, Catálogo y Emisoras Accionarias de la BMV is the proprietary industrial classification framework of the Mexican Stock Exchange or Bolsa Mexicana de Valores (BMV). First published in 2009, the BMV classification system has four classification levels ranging from broad Sectors at the highest level to more specific Sub-Industries at the lowest level. The BMV classification system is a fundamental aspect of the BMV's financial services infrastructure and is used extensively by other market players, from financial analysts to journalists.
Metadata
| Publisher type | Commercial |
| Publisher(s) | |
| Jurisdictions | Mexico |
The Clasificación Sectorial, Catálogo y Emisoras Accionarias de la BMV (henceforth, the BMV classification system) is the proprietary industrial classification framework of the Mexican Stock Exchange or Bolsa Mexicana de Valores (BMV). The Mexican Stock Exchange, which went public in 2008, is a fully integrated Exchange providing a range of services, from listing, trading, and post-trading to value-added offerings like market data, pricing, valuations, and indices. The BMV industrial classification system was first published in March 2009, having been developed by the Indices Technical Methodology Committee of the Exchange with technical input from the Mexican Association of Stock Brokers (AIMB). While the BMV classification system is tailored to the Mexican market, it was developed with reference to prominent international standards used across the world such as the Global Industry Classification Standard (GICS).
The BMV classification system has four classification levels: Sectors, Industry Groups, Industries, and Sub-Industries. Industrial categories at all levels of the system are identified by a five-digit numerical code. For example, the Sector 04000 (Consumer Discretionary & Services), the Industry Group 04100 (Automobiles & Components), the Industry 04110 (Auto Components), and the Sub-Industry 04111 (Auto Parts & Equipment). The Mexican Stock Exchange has not revealed the criteria based on which companies are categorized (e.g. quantitative indicators like revenue or profit contribution of companies' main activity, as used by the GICS and the HSICS) and other details about how the system is maintained such as frequency of review, public consultations, etc. Nevertheless, the BMV classification system enables the analysis of sector-specific trends and performance of companies listed on the Mexican Stock Exchange. It also facilitates the comparison of companies with internationally recognized standards, enabling more accurate evaluations of similar companies across different markets by both domestic and international investors.
Versions
Clasificación Sectorial, Catálogo y Emisoras Accionarias de la BMV, 2009/BMV Industrial Classification System, 2009 (Current)
The BMV industrial classification system has been in force since March 2009.
Structure of the BMV Industrial Classification System, 2009
The system is structured into four levels, as follows
Sector: 10 Sectors identified by five-digit numeric codes.
Industry Group: 78 Industry Groups identified by five-digit numeric codes.
Industry: 192 Industries identified by five-digit numeric codes.
Sub-industry: 192 Sub-industries identified by five-digit numeric codes.
Resources
Where is it used?
The Mexican Stock Exchange is the principal user of the BMV classification system, defining the sectoral composition of its stock market indexes and other data products and services it offers. For example, the BMV Index for Construction includes, among others, the sub-industries 02151 (Aluminum & Other Metals), 02155 (Steel), 03421 (Real Estate Developments), and 03433 (Engineering).
External users such as financial and investment analysts, journalists and other market players will also find the BMV's classification system useful for grouping companies in Mexico and tracking trends of interest to them in Mexico's stock market.
Academic researchers have used the BMV classification system to examine issues such as board interlocks among listed firms and the interdependency structure of daily returns in the Mexican Stock Exchange.