JP Morgan has announced that its depositary receipts group will offer selected US-registered exchange-traded funds on the international segment of the Mexican Stock Exchange, Bolsa Mexi
JP Morgan has announced that its depositary receipts group will offer selected US-registered exchange-traded funds on the international segment of the Mexican Stock Exchange, Bolsa Mexicana de Valores.
JP Morgan will enable all eligible Mexican stock exchange market participants to achieve the US and global exposure that ETFs can provide, as well as benefit from the convenience of a peso-denominated security.
The cross-listed ETFs will be listed on the exchange in pesos and trades can be initiated through a local broker.
JP Morgan will service the ETFs and will handle all corporate actions.
It will also disseminate relevant shareholder and corporate actions information in the Mexican market via the exchange.
William Kirst, depositary receipts executive for Latin America at JP Morgan, says: ‘We are well-positioned to offer this product in Mexico as evidenced by our long-standing commitment to its equity market. JP Morgan has been doing business in the region for over 100 years; our DR Group executed the first Latin American DR in 1960.’
