“Achieving efficiency through Capital Markets Integration” Can partnerships and alliances help small and medium sized market players compete on a global scale?

The BMV Group: A Fully Integrated Exchange BMV Group offers fully electronic platforms for cash equities, financial derivatives and OTC fixed income and derivatives, including an order routing agreement with the CME, the largest derivatives exchange in the world. Bolsa Mexicana's post trade activities include central counterparties, clearing services, custody and financial messaging. MARKETSVALUE ADDED SERVICESPOST TRADE CASH EQUITIES DERIVATIVES OTC MONEY MARKET CUSTODY & OTC CLEARING DERIVATIVES CENTRAL COUNTERPARTY EQUITIES CENTRAL COUNTERPARTY DATA SALES INDEX LICENSING RISK MANAGEMENT PRICE VENDOR DATA SALES INDEX LICENSING RISK MANAGEMENT PRICE VENDOR SERVICE BUREAU - FINANCIAL MESSAGING

About Grupo Bolsa Mexicana de Valores Post-Trade Services Exchange & Trading Marketplace for listed international & local securities Marketplace for listed derivatives Inter-dealer broker Marketplace for listed international & local securities Marketplace for listed derivatives Inter-dealer broker Central counterparty for equity transactions performed at BMV Central counterparty for derivatives transactions performed at MexDer Custody, settlement and clearing for local & foreign securities Service Bureau - Financial Messaging Data/Price Vendor Valuation, Risk Mgmt. Central counterparty for equity transactions performed at BMV Central counterparty for derivatives transactions performed at MexDer Custody, settlement and clearing for local & foreign securities Service Bureau - Financial Messaging Data/Price Vendor Valuation, Risk Mgmt. Systems IT provider

STRATEGIC ALLIANCES: Chicago Mercantile Exchange CME is the largest derivatives exchange in the world. Both companies have connected their networks of electronic distribution. CME Globex and BMV network for conducting electronic orders of derivative products of both exchanges STRATEGIC ALLIANCES: Bolsas y Mercados Españoles INFO-BOLSA

STRATEGIC ALLIANCES: ICAP SIF ICAP Mexico (SIF-ICAP) is a subsidiary of Mexican Stock Exchange (BMV) and ICAP and offers the broadest range of services to banks and brokerage firms to perform their daily transactions in fixed-income securities and in the foreign exchange market by using the most advanced and secure information technologies 3 3 InterGloval BMV is a subsidiary of Grupo Bolsa Mexicana de Valores (BMV) and has been certified by SWIFT as a Service Bureau and offers the access to a reliable international financial messaging connectivity for small and medium size financial institutions 4 4 STRATEGIC ALLIANCES: Society for Worldwide Interbank Financial Telecommunication (SWIFT)

STRATEGIC ALLIANCES: Algorithmics Inc. 5 5 Provide the market on a daily basis, with: - Updated prices for the valuation of financial instruments; - Specialized databases; - Outsourcing services of financial risks (market, credit and liquidity) as well for operational risk. Costa Rica 2008 Panama 2008 Brazil 2007 Chile 2009 (in process) 50% BCS +50% VALMER Colombia 2010 (inprocess) 55% BVC + 45% VALMER

Risks Calculation Engine Capital Markets Derivatives Market Central Securities Depository, Securities Settlement System Repos & Sec Lending Transactions VALPRE SAVAR Central System Risks Calculation 6 6 STRATEGIC ALLIANCES: Algorithmics Inc. Clearing House and Central Counterparty Clearing House and Central Counterparty

Special segment within the BMV for non-Mexican securities Provides local investors access to international markets, allowing for greater diversification, without leaving home. 333 Listed companies & 385 ETFs Represents 17% of trading at the BMV (Q2 ‘11) Traded and cleared locally in pesos Same legislation as domestic equities − No capital gains tax − No withholding tax − No investor registration STRATEGIC ALLIANCES: US and European Markets - International System Quotation (SIC) 7 7

Equity Debt As of today, BMV has listed more than 800 different securities which include NYSE, NASDAQ, ETF´s and European ADR´s for a Total Value in Custody of USD 32 Billion. EUROBONDSSTRUCTURED NOTESSOVEREIGN DEBTT-BILLST-BONDST-NOTES 7 7

US and European Markets - Global Market SIC International Debt Custody International Capital Custody

US and European Markets - Local Trading activity On a daily basis, the Mexican Stock Exchange (BMV) trades the equivalent of USD 800 million. Of this total, 25% are related to foreign securities listed at BMV. In addition to, BMV has listed debt certificates from LATAM corporations. Debt certificates issued by Chilean companies such as BANCO DE CREDITO E INVERSIONES and MOLIBDENOS Y METALES S.A. were listed during the past 3 years with a total value of USD 400 million.

Latin-American Integration:  Grupo Bolsa has expressed its interest in participating in MILA.  Some local regulation will have to be modified.  At this moment, Grupo Bolsa is developing a business case and analyzing changes in regulation. At the same time, an “Orders Routing Model” is being reviewed with the Brazilian Market and Bolsa de Santiago in case that BMV is not able to participate in MILA.

Some Conclusions:  The most important objective for Grupo Bolsa is offering a wide range of services and products to local investors.  Each day, local institutional investors have more sophisticated technical and business requirements such as: Reliable information Cross-border clearing and settlement Efficient risk mitigation processes  Interoperability, straight-through-processing and standards between market infrastructures are the key points to achieve a low cost, efficient and a safe environment.

“Achieving efficiency through Capital Markets Integration” Can partnerships and alliances help small and medium sized market players compete on a global scale?