BIVA (Bolsa Institucional de Valores) is Mexico's second stock exchange, launched in July 2018. It offers trading in equities, debts, warrants, and Mexican-specific instruments like CKDs and FIBRAs. BIVA targets financial institutions, investors, and companies seeking listing opportunities. Its unique selling proposition is providing competition to the traditional Mexican Stock Exchange (BMV), enhancing market efficiency and promoting financial innovation. BIVA uses technology from Nasdaq, ensuring robust trading and surveillance platforms. The target audience includes institutional investors and companies looking for diverse listing options in Mexico.