Supervisory Body

SHCP - Secretaria de Hacienda y Crédito Publico (Ministry of Finance and Public Credit) 

CNBV - Comision Nacional Bancaria y de Valores (National Banking and Securities Commission)

BANXICO - Banco de México (Central Bank) 

Name of Central Securities Depository

S. D. Indeval Institución para el Depósito de Valores, S.A. de C.V. - Debt Market (Clearing House) 

Name of Clearing & Settlement Organization

Contraparte Central de Valores de México, S.A. de C.V. - Capital Market (Clearing House)

S. D. Indeval Institucion para el Deposito de Valores, S.A. de C.V. - Debt Market (Clearing House) 

Fideicomiso Asign Compensacion y Liquidacion - MexDer Derivatives Market (Clearing House)

Settlement Cycle

Domestic Securities (Capital Market)
T + 3 (with the exception of debentures, which have T+2 settlement)
Foreign Securities
T + 3 (equities and ETFs)
T + 2 (debt market securities) 

T + 1 (ETFs debt)

Monthly Cycle up to 10 years (US Dollar future contract and 28-day Interbank Interest rate (TIIE 28) future contract) 
Monthly Cycle up to 12 months (Euro future contract) 
Quarterly Cycle, March, June, September and December. For  up to one year (Mexican Stock Exchange Index (IPC) and individual stocks futures and options contracts, ETF and US Dollar options contracts, US Dollar future contract)
Monthly Cycle up to 12 months and Quarterly Cycle up to 7 years (91-day Cetes Futures contracts) 
Quarterly Cycle up to 3 years (3-year (M3) and 10-year (M10) Bonds futures contracts)
Monthly Cycle up to 1 year and Quaterly Cycle up to 4 years (Inflation index (UDI) futures contract) 
Monthly or Quarterly Cycle up to 1 year (10-year Interest Rate Swap futures contract) 

Commissions on Transactions levied by Exchange

The Mexican Stock Exchange does not charge directly a fee per transaction in capital market or debt market. Instead of, the Mexican Stock Exchange levy to its members a monthly fee based on value traded according to a two predefined tables (one for the capital market and the other for the debt market).

Taxes on Dividends, Interests

Capital Gains : none
Dividends : none 
Capital Financial Operation : None
Interest : To Mexican Nationals : 0.6 % on paid interests
To Foreigners : 4.9 % on paid interests* 
Entities or Individuals with enterprise activity : No withholding.
Individual residents : Withholding of 25% on the monthly net gain.
Foreigners - non-residents : No withholding 
Entities or Individuals with enterprise activity : Tax exempt.
Individual residents : No withholding.
Foreigners - non-resident : Tax exempt
* Whenever the beneficiary resides in a member country of the OECD, in which the income tax is equivalent to that applied in Mexico or in a
country with which Mexico has a tax treaty

2011 Share ownership thresholds (%)

10%
According with the Securities Market Law (Article 239) : No person or group of persons will be able to acquire direct or indirectly, by means of one or
several operations of any nature, simultaneously or successively for more than 10% of the total shares of the Stock Exchange paid in Capital. The Ministry of Finance could exceptionally authorize a major percentage. In addition, according with the By Laws of the Mexican Stock Exchange there is a measure to prevent acquires direct or indirectly, the control of the 5% or more of the shares representative the Mexican Stock Exchange's capital.

Short selling (Yes / No)

Yes

Short selling conditions (if any)

Up tick rule
No up tick rule when short sell is to cover warrant´s position and Global MARKET (Equities and ETF's).

The Secondary Legislation (Circular Única (CB) establishes:
• Brokerage Houses will be able to act for proprietary account or by third party.
• Short selling can only be made through a Stock Exchange.
• Short selling can only be done on high and mid liquid stocks.