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125-671: The BMV was created out of the merger of the three stock exchanges which formerly operated in Mexico: The Bolsa de Valores de México , which operated in Mexico City , the Bolsa de Occidente ( Occidental Stock Exchange ) in Guadalajara , and the Bolsa de Monterrey ( Monterrey Stock Exchange ). The exchange kept modernising until its introduction of a fully electronic system for trading which was consolidated in 1999. In 2014,

250-694: A Ritz-Carlton Hotel & Residences and a Park Hyatt Hotel & Residences. In 2019, American fast food chain Shake Shack opened its first restaurant in Mexico on Reforma in front of the Angel of Independence. From May 2007, the Paseo Dominical Muévete en bici program shuts down motor vehicle traffic Sundays 8am-2pm (except the last Sunday each month) on a route that includes Paseo de la Reforma. The Paseo de la Reforma reoriented

375-421: A subtropical highland climate ( Köppen climate classification Cwb ), due to its tropical location but high elevation. The lower region of the valley receives less rainfall than the upper regions of the south; the lower boroughs of Iztapalapa , Iztacalco , Venustiano Carranza and the east portion of Gustavo A. Madero are usually drier and warmer than the upper southern boroughs of Tlalpan and Milpa Alta ,

500-643: A leader in the war against the French Intervention. As president, he fully supported the embellishment of the Paseo de la Reforma with statuary representing Mexico's heroes through its history, creating "monuments worth of the culture of this city, and whose sights remind of the heroism with which the nation fought against the Conquest in the sixteenth century and for the Independence and Reform in

625-720: A major success that ended the war. The American invasion into the Federal District was first resisted during the Battle of Churubusco on 8 August, where the Saint Patrick's Battalion , which was composed primarily of Catholic Irish and German immigrants but also Canadians, English, French, Italians, Poles, Scots, Spaniards, Swiss, and Mexicans, fought for the Mexican cause, repelling the American attacks. After defeating

750-609: A member of the Party of the Democratic Revolution . Discontent over the election eventually led Cuauhtémoc Cárdenas to become the first elected mayor of Mexico City in 1997. Cárdenas promised a more democratic government , and his party claimed some victories against crime, pollution, and other major problems. He resigned in 1999 to run for the presidency. Mexico City is located in the Valley of Mexico, sometimes called

875-469: A mountainous region of pine and oak trees known as the range of Ajusco . The average annual temperature varies from 12 to 16 °C (54 to 61 °F), depending on the altitude of the borough. The temperature is rarely below 3 °C (37 °F) or above 30 °C (86 °F). At the Tacubaya observatory, the lowest temperature ever registered was −4.4 °C (24 °F) on 13 February 1960, and

1000-626: A new king, Cuitláhuac , but he soon died; the next king was Cuauhtémoc . Cortés began a siege of Tenochtitlan in May 1521. For three months, the city suffered from the lack of food and water as well as the spread of smallpox brought by the Europeans. Cortés and his allies landed their forces in the south of the island and slowly fought their way through the city. Cuauhtémoc surrendered in August 1521. The Spaniards practically razed Tenochtitlan during

1125-540: A real estate renaissance. Remarkable buildings built in recent years are Torre Mayor , Torre HSBC in the Ángel roundabout, Torre Libertad with a St. Regis Hotels & Resorts -branded hotel in the Diana fountain roundabout, and Reforma 222 designed by Mexican architect Teodoro González de León (who designed the Auditorio Nacional ) at Reforma and Havre St. Recently opened mixed-used developments include

1250-471: A renewal program for Paseo de la Reforma. It included the maintenance of the existent gardens and the creation of new ones, the intensive cleaning and sweeping of streets and sidewalks, the construction of new pink quarry sidewalks and benches, the creation of access bays in the Zoo, lake and Modern Art Museum for touristic and school buses, the installation of new lighting, the moving of the monument to Cuauhtémoc to

1375-430: A road 20 meters wide, which was enormous for those days, without a central median, only a few areas on the side reserved for horses to rest. There were practically no buildings along the boulevard and sidewalks were not considered necessary. The Paseo did not include bridges or similar constructions to cross the canals and rivers which then flowed near what is now Colonia Tabacalera (then Hacienda de la Teja). The Paseo

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1500-543: A third of those in 1992. The levels of signature pollutants in Mexico City are similar to those of Los Angeles . Despite the cleanup, the metropolitan area is still the most ozone -polluted part of the country, with ozone levels 2.5 times beyond WHO -defined safe limits. To clean up pollution, the federal and local governments implemented numerous plans including the constant monitoring and reporting of environmental conditions, such as ozone and nitrogen oxides . When

1625-488: A way not seen in other parts of the Americas. Spaniards encountered a society in which the concept of nobility mirrored that of their own. Spaniards respected the indigenous order of nobility and added to it. In the ensuing centuries, possession of a noble title in Mexico did not mean one exercised great political power, for one's power was limited even if the accumulation of wealth was not. The concept of nobility in Mexico

1750-472: A year by American troops in the framework of the Mexican–American War (1847–1848). The Battle for Mexico City was the series of engagements from 8 to 15 September 1847, in the general vicinity of Mexico City during the U.S. Mexican War . Included are major actions at the battles of Molino del Rey and Chapultepec , culminating with the fall of Mexico City. The U.S. Army under Winfield Scott scored

1875-407: A year later, another group of brokers, led by Francisco A. Llerena and Luis G. Necochea, formed a society named Bolsa de México ( Stock Exchange of Mexico) , and registered as a competing establishment on 14 June 1895. Because of coinciding objectives and links between members of the two institutions, leaders began discussing a union between them. On 3 September 1895, the merger was finalised, keeping

2000-505: Is called the IPC , which stands for Índice de Precios y Cotizaciones , and is the broadest indicator of the BMV's overall performance. It is made up of a balanced weighted selection of shares that are representative of all the shares listed on the exchange from various sectors across the economy, and is revised twice a year. Weight is determined by market capitalization . The IPC's value is related to

2125-486: Is colloquially known as Chilangolandia after the locals' nickname chilangos . Chilango is used pejoratively by people living outside Mexico City to "connote a loud, arrogant, ill-mannered, loutish person". For their part those living in Mexico City designate insultingly those who live elsewhere as living in la provincia ('the provinces', 'the periphery') and many proudly embrace the term chilango. Residents of Mexico City are more recently called defeños (deriving from

2250-505: Is conducted electronically through the BMV-SENTRA Equities System. Settlement is T+2, and trading hours are 7:30 a.m. to 2 p.m. for the equities market and 7:30 a.m. to 3 p.m. for the derivatives market (Monday through Friday), The BMV calculates 13 indices of stock prices. Each index can be used as an underlying value for derivative products listed on specialized markets. The main benchmark stock index

2375-594: Is the oldest capital city in the Americas and one of two founded by Indigenous people . The city was originally built on a group of islands in Lake Texcoco by the Mexica around 1325, under the name Tenochtitlan . It was almost completely destroyed in the 1521 siege of Tenochtitlan and subsequently redesigned and rebuilt in accordance with the Spanish urban standards . In 1524, the municipality of Mexico City

2500-513: Is written by the victors, so that absent from the array of liberal heroes are statues of prominent Mexican conservatives Antonio López de Santa Anna , general and president of Mexico for much of the early 19th century; and Lucas Alamán , historian and politician. Also absent is a statue Porfirio Díaz , liberal general and president from 1876-1911, when the regime was overthrown by the Mexican Revolution . A monument, officially called

2625-676: The Alameda Central , it is recognized as the oldest public park in the Americas . Parque México and Parque España in the hip Condesa district; Parque Hundido and Parque de los Venados in Colonia del Valle , and Parque Lincoln in Polanco . There are many smaller parks throughout the city. Most are small "squares" occupying two or three square blocks amid residential or commercial districts. Several other larger parks such as

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2750-561: The Angel of Independence to the Zócalo , or from the Zócalo to Los Pinos . Many parades, such as Mexico City Pride , make their way through Reforma. The Angel of Independence roundabout is an iconic representative of the city, and is the main place of the celebration of victories of the national football team , such as during World Cups . Motor vehicule traffic on the main downtown part of

2875-542: The Bosque de Tlalpan  [ es ; no ] and Viveros de Coyoacán , and in the east Alameda Oriente  [ es ] , offer many recreational activities. Northwest of the city is a large ecological reserve, the Bosque de Aragón  [ ceb ; es ; no ] . In the southeast is the Xochimilco Ecological Park and Plant Market , a World Heritage Site . West of Santa Fe district are

3000-589: The Congress of Mexico passed and President Abelardo L. Rodríguez signed into law the Regulatory Decree of the General Law of Credit Institutions and Auxiliary Organisations, normalising the exchange of securities and the stock market in Mexico. Because of the legal reforms of the time, and the concession authorised by Congress on 28 October 1933, which for the first time included stock exchanges,

3125-726: The Diana the Huntress Fountain that includes a statue featuring the Roman goddess Diana originally named The Arrow Thrower of the North Star . The Angel of Independence – a tall column with a gilded statue of a Winged Victory (that bears resemblance with an angel, therefore its common name) on its top and many marble statues on its base depicting the heroes of the Mexican War of Independence , built to commemorate

3250-664: The Ecobici bike-sharing were among efforts to encourage alternate, greener forms of transportation. Chapultepec , the city's most iconic public park, has history back to the Aztec emperors who used the area as a retreat. It is south of Polanco district, and houses the Chapultepec Zoo the main city's zoo, several ponds and seven museums, including the National Museum of Anthropology . Other iconic city parks include

3375-597: The Federal District (Spanish: Distrito Federal or D.F. ) and is now officially known as Ciudad de México (or CDMX ), with a greater degree of autonomy. A clause in the Constitution of Mexico , however, prevents it from becoming a state within the Mexican federation, as long it remains the capital of the country. Mexico City was traditionally known as La Ciudad de los Palacios ("the City of

3500-618: The Latin American Integrated Market (MILA by its Spanish initials) on 2 December 2014. The trade on MIILA was a $ 1,415 purchase of 200 shares in Chilean retailer Falabella , executed by GBM Mexico through GBM Chile. With the entry of Mexico into MILA, the integrated stock market now counts 798 issuers among the four countries, making it the biggest market by number of listed companies in Latin America, and

3625-561: The Saint Patrick's Battalion , the Mexican–American War came to a close after the United States deployed combat units deep into Mexico resulting in the capture of Mexico City and Veracruz by the U.S. Army's 1st, 2nd, 3rd and 4th Divisions . The invasion culminated with the storming of Chapultepec Castle in the city itself. During this battle, on 13 September, the 4th Division, under John A. Quitman , spearheaded

3750-561: The Toltec , and Mexica (Aztecs) cultures. The latter arrived around the 14th century to settle first on the shores of the lake. The city of Mexico-Tenochtitlan was founded by the Mexica people in 1325 or 1327. The old Mexica city that is now referred to as Tenochtitlan was built on an island in the center of the inland lake system of the Valley of Mexico , which is shared with a smaller city-state called Tlatelolco . According to legend,

3875-611: The Torre Mayor and others in the Zona Rosa . More modern extensions continue the avenue at an angle to the old Paseo. To the northeast it continues toward Tlatelolco , where it changes its name near the Plaza de las Tres Culturas . There it divides into Calzada de Guadalupe and Calzada de los Misterios that continue toward La Villa . Its western portion going west from Chapultepec Park passes south of Polanco on its way through

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4000-706: The Twelve Apostles of Mexico who arrived in New Spain in 1524, described the rebuilding of the city as one of the afflictions or plagues of the early period: The seventh plague was the construction of the great City of Mexico, which, during the early years used more people than in the construction of Jerusalem. The crowds of laborers were so numerous that one could hardly move in the streets and causeways, although they are very wide. Many died from being crushed by beams, or falling from high places, or in tearing down old buildings for new ones. Preconquest Tenochtitlan

4125-470: The Zócalo , Mexico City's main square, was assigned to a committee of prominent architects (Carl Gangolf and Ramón Rodríguez Arangoiti) and artists (Felipe Sojo, Miguel Noreña, Santiago Rebull). The committee's original proposal planned. However, this would have required the demolition of large portion of the buildings in the city, as happened in Paris. The committee decided instead to begin the boulevard at what

4250-486: The city proper was 9,209,944, with a land area of 1,495 square kilometers (577 sq mi). According to the most recent definition agreed upon by the federal and state governments, the population of Greater Mexico City is 21,804,515, which makes it the sixth-largest metropolitan area in the world, the second-largest urban agglomeration in the Western Hemisphere (behind São Paulo , Brazil ), and

4375-566: The massacre of an unknown number of protesting students in Tlatelolco . Three years later, a demonstration in the Maestros avenue, organized by former members of the 1968 student movement, was violently repressed by a paramilitary group called " Los Halcones ", composed of gang members and teenagers from many sports clubs who received training in the US. On 19 September 1985, at 7:19am CST ,

4500-613: The "Altar to the Homeland" ( Altar a la Patria ), honors the Niños Héroes – the Heroic Cadets of the Battle of Chapultepec – with a particularly grand monument in the entrance of Chapultepec Park. Heroes of South American independence include Simón Bolívar and José de San Martín . There is also a fountain with sculptures that commemorate the nationalization of Mexico's oil reserves and industry in 1938, and

4625-641: The BMV equities market. It operates by concession of the Secretariat of Finance and Public Credit . Until its IPO, BMV was owned by its members, which were a group of banks and brokerage firms. The exchange trades debt instruments including Federal Treasury certificates (CETES), Federal Government Development bonds (BONDES), Investment Unit bonds (UDIBONOS), Bankers acceptances , promissory notes with yield payable at maturity , commercial paper and development bank bonds. It also trades stocks , debentures , mutual fund shares , and warrants . Trading

4750-538: The Basin of Mexico. This valley is located in the Trans-Mexican Volcanic Belt in the high plateaus of south-central Mexico. It has a minimum altitude of 2,200 meters (7,200 feet) above sea level and is surrounded by mountains and volcanoes that reach elevations of over 5,000 meters (16,000 feet). This valley has no natural drainage outlet for the waters that flow from the mountainsides, making

4875-572: The City of Lakes . If approved by the government the project will contribute to the supply of water from natural sources to the Valley of Mexico , the creation of new natural spaces, a great improvement in air quality, and greater population establishment planning. By the 1990s Mexico City had become infamous as one of the world's most polluted cities; however, the city has since become a model for drastically lowering pollution levels. By 2014 carbon monoxide pollution had dropped drastically, while sulfur dioxide and nitrogen dioxide were at levels about

5000-633: The Gulf of Mexico and the Pacific Ocean. After landing in Veracruz , Spanish explorer Hernán Cortés advanced upon Tenochtitlan with the aid of many of the other native peoples, arriving there on 8 November 1519. Cortés and his men marched along the causeway leading into the city from Iztapalapa (Ixtapalapa), and the city's ruler, Moctezuma II , greeted the Spaniards; they exchanged gifts, but

5125-528: The Historic Center along Reforma was established by a double deck bus called Turibus . With the renewal project, new life has come to the avenue. It has become a main attraction of the city and the most expensive one to build on. However, after many of Mexico City's banks and business left Paseo de la Reforma for the Santa Fe business district in the last decade, the boulevard has been the center of

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5250-606: The Mexican Federal Government to Banks and brokerage houses. The newer buildings show a mix of contemporary styles and the commonly used style for office buildings. Five skyscrapers were recently along the boulevard between the entrance to Chapultepec Park and the Diana the Huntress Fountain : Torre Reforma (244m), Punto Chapultepec (238m), Torre BBVA Bancomer (235m), and Torre Diana (158m). Many monuments to people and events in Mexico's history and

5375-695: The Mexican Stock Exchange completed its first trade as a part of MILA which, together with the stock exchanges of Santiago , Lima , and Colombia , is the largest securities market by total capitalisation in Latin America. From 1880 to 1900, Plateros and Cadena streets in the historic center of Mexico City were home to recurring meetings in which brokers and businessmen purchased and sold all kinds of commodities as well as stocks in public offerings . Afterwards, exclusive groups of shareholders and issuing company representatives would gather to negotiate behind closed doors in different places around

5500-576: The Mexican wolf. Other guests are the golden eagle, pronghorn, bighorn sheep, caracara, zebras, African elephant, macaw, hippo, among others. Zoo Los Coyotes is a 27.68-acre (11.2 ha) zoo located south of Mexico City in the Coyoacan. It was inaugurated on 2 February 1999. It has more than 301 specimens of 51 species of wild native or endemic fauna from the area, featuring eagles, ajolotes, coyotes, macaws, bobcats, Mexican wolves, raccoons, mountain lions, teporingos, foxes, white-tailed deer. Mexico City has

5625-559: The Mexicas' principal god, Huitzilopochtli , indicated the site where they were to build their home by presenting a golden eagle perched on a prickly pear devouring a rattlesnake . Between 1325 and 1521, Tenochtitlan grew in size and strength, eventually dominating the other city-states around Lake Texcoco and in the Valley of Mexico. When the Spaniards arrived, the Aztec Empire had reached much of Mesoamerica , touching both

5750-578: The Miguel Hidalgo. It was opened in 1924. Visitors can see about 243 specimens of different species including kangaroos, giant panda, gorillas, caracal, hyena, hippos, jaguar, giraffe, lemur, lion, among others. Zoo San Juan de Aragon is near the San Juan de Aragon Park in the Gustavo A. Madero. In this zoo, opened in 1964, there are species that are in danger of extinction such as the jaguar and

5875-520: The Palaces"), a nickname attributed to Baron Alexander von Humboldt when visiting the city in the 19th century, who, sending a letter back to Germany, said Mexico City could rival any major city in Europe. But it was English politician Charles Latrobe who really penned the following: "... look at their works: the moles, aqueducts, churches, roads—and the luxurious City of Palaces which has risen from

6000-457: The Palm Tree Roundabout and Avenida Juárez. In 1872 the boulevard was renamed Paseo de la Reforma. On its flanks, upscale subdivisions were built, Colonia Americana – today Colonia Juárez , and Colonia Cuauhtémoc . The French style of the area was epitomized at the time by frequent comparisons of Paseo de la Reforma to the Champs Elysées in Paris. Liberal general Porfirio Díaz seized president power in 1876 after having distinguished himself as

6125-468: The Paseo shuts down most Sundays 8am-2pm as part of the Paseo Dominical Muévete en bici program of the Mexico City government. In 1864, during the French intervention in Mexico , the capital and much of the country was controlled by the French, with Juárez's republican government on the run in northern Mexico. In Mexico City Maximilian I was installed as emperor. He took up residence in Chapultepec Castle with his wife Empress Carlota . Modernizing

6250-500: The Paseo officially opened to the public while work continued on it. By 1870 it had tree-lined pedestrian medians between "el Caballito" and the Palm Tree Roundabout, carried out by the Ministry of Development under Francisco P. Herrera. Between 1872 and 1876 an eight-meter bridge was built at Hacienda de la Teja and the pedestrian medians were completed all the way to Chapultepec. Eucalyptus and ash trees and willows were planted and four monumental roundabouts ( glorietas ) were built between

6375-412: The Reform ") is a wide avenue that runs diagonally across the heart of Mexico City . It was designed at the behest of Emperor Maximilian by Ferdinand von Rosenzweig during the era of the Second Mexican Empire and modeled after the great boulevards of Europe, such as the Ringstraße in Vienna and the Champs-Élysées in Paris . The planned grand avenue was to link the National Palace with

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6500-421: The Spanish preserved Tenochtitlan's basic layout, they built Catholic churches over the old Aztec temples and claimed the imperial palaces for themselves. Tenochtitlan was renamed "Mexico" because the Spanish found the word easier to pronounce. The city had been the capital of the Aztec Empire and in the colonial era, Mexico City became the capital of New Spain . The viceroy of Mexico or vice-king lived in

6625-441: The Stock Exchange and other financial institutions within the centre. In 2003, the global market was made available through the BMV, allowing national investors access to foreign securities from within the country. In 2006, the Mexican securities market was opened to foreigners through the MexDer system, allowing them operation from anywhere in the world. In October of the same year, four ETFs ( exchange-traded funds ) over indexes of

6750-475: The affluent neighborhood of Lomas de Chapultepec and then into Cuajimalpa and Santa Fe on the outskirts of the city, although when it reaches this point it is more a highway than a promenade. Today, the Reforma is filled with tourist attractions, luxury restaurants and hotels , office buildings, public art exhibitions, and new construction. Reforma is a common location for Mexicans to celebrate or protest. Most protest rallies commonly go along Reforma from

6875-480: The air is relatively drier, the driest month being December. This season is subdivided into a cold winter period and a warm spring period. The cold period spans from November to February, when polar air masses push down from the north and keep the air fairly dry. The warm period extends from March to May when subtropical winds again dominate but do not yet carry enough moisture for rain to form. Paseo de la Reforma Paseo de la Reforma (literally "Promenade of

7000-426: The area closest to the main square in what was known as the traza , in orderly, well laid-out streets. Indigenous residences were outside that exclusive zone and houses were haphazardly located. Spaniards sought to keep indigenous people separate but since the Zócalo was a center of commerce for Amerindians, they were a constant presence in the central area, so strict segregation was never enforced. At intervals Zócalo

7125-446: The area was struck by the 1985 Mexico City earthquake . The earthquake proved to be a disaster politically for the one-party state government. The Mexican government was paralyzed by its own bureaucracy and corruption, forcing ordinary citizens to create and direct their own rescue efforts and to reconstruct much of the housing that was lost as well. However, the last straw may have been the controversial elections of 1988. That year,

7250-451: The armies of Pancho Villa and Emiliano Zapata , but the city did not experience violence. Huerta had abandoned the capital and the conquering armies marched in. Venustiano Carranza 's Constitutionalist faction ultimately prevailed in the revolutionary civil war and Carranza took up residence in the presidential palace. In the 20th century the phenomenal growth of the city and its environmental and political consequences dominate. In 1900,

7375-404: The army stronghold of the ciudadela or citadel, with significant civilian casualties and the undermining of confidence in the Madero government. Victoriano Huerta , chief general of the Federal Army , saw a chance to take power, forcing Madero and Pino Suarez to sign resignations. The two were murdered later while on their way to Lecumberri prison . Huerta's ouster in July 1914 saw the entry of

7500-433: The attack against Chapultepec and carried the castle. Future Confederate generals George E. Pickett and James Longstreet participated in the attack. Serving in the Mexican defense were the cadets later immortalized as Los Niños Héroes (the "Boy Heroes"). The Mexican forces fell back from Chapultepec and retreated within the city. Attacks on the Belén and San Cosme Gates came afterwards. The treaty of Guadalupe Hidalgo

7625-465: The biggest in terms of market capitalization, according to the World Federation of Exchanges . The joint capitalization of the four bourses tops US$ 1.25 trillion, making it larger than the US$ 1.22 trillion BM&F Bovespa . The move comes largely as step in the integration efforts between Mexico, Chile , Colombia , and Peru , as members of the Pacific Alliance . BMV is now a public company following its IPO in June 2008, and its shares are traded on

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7750-402: The boulevard. Originally it included two vehicle paths, 9 meters wide each, a central island 1.5 meters wide, and two pedestrian side paths, each 9 meters wide, resplendent with ornamental plants and trees. The city government and the owners of the agricultural land along the route opposed the plan. Reasons included the fragility of the land, which was reclaimed lake bed of Lake Texcoco , and that

7875-448: The camaraderie did not last long. Cortés put Moctezuma under house arrest , hoping to rule through him. Tensions increased until, on the night of 30 June 1520 – during a struggle known as " La Noche Triste " – the Aztecs rose up against the Spanish intrusion and managed to capture or drive out the Europeans and their Tlaxcalan allies. Cortés regrouped at Tlaxcala. The Aztecs thought the Spaniards were permanently gone, and they elected

8000-493: The capital was part of a more general reform program to modernize the country. These included the building of infrastructure to improve domestic communications, including roads and railroads. One such project type was the creation of a series of boulevards, imitating European ones such as the Ringstraße in Vienna, or the ones under construction at that time in Paris under Napoleon III , lined with grand monuments. Two such projects were begun, one on Avenida Chapultepec, which

8125-445: The capital. The 16th century saw a proliferation of churches, many of which can still be seen today in the historic center . Economically, Mexico City prospered as a result of trade. Unlike Brazil or Peru , Mexico had easy contact with both the Atlantic and Pacific worlds. Although the Spanish crown tried to completely regulate all commerce in the city, it had only partial success. The concept of nobility flourished in New Spain in

8250-419: The centennial of Mexico's independence in 1910. The base contains the tombs of several key figures in Mexico's war of independence . Near the central section of Reforma, across from the Alameda, is the Monumento a la Revolución ("Monument to the Revolution"). This is an enormous dome supported by four arches. It was originally planned, by Porfirio Díaz , to be a part of a new parliament building, but it never

8375-421: The charter and bylaws of the Bolsa de Valores de México, S.A. (Stock Exchange of Mexico) were approved, and on 5 September, the institution was incorporated. That same year, the National Securities Commission, later renamed National Banking and Securities Commission , was established to supervise the Bolsa de Valores de México. Because of substantial industrial and commercial growth in Mexico mid-century, owing to

8500-413: The city vulnerable to flooding. Drainage was engineered through the use of canals and tunnels starting in the 17th century. Mexico City primarily rests on what was Lake Texcoco . Seismic activity is frequent there. Lake Texcoco was drained starting from the 17th century. Although none of the lake waters remain, the city rests on the lake bed's heavily saturated clay. This soft base is collapsing due to

8625-410: The city. In 1894, Manuel Algara, Camilo Arriaga, and Manuel Nicolín pushed, among the most distinguished brokers of the time, the idea of a normative and institutionalised system to trade securities. With the increased backing and widespread support for his ideas, the Bolsa Nacional ( National Stock Exchange ) was founded on 31 October 1894 at 9 Plateros Street, later renamed Madero Street . Less than

8750-425: The clay-built ruins of Tenochtitlan...", on page 84 of the Letter V of The Rambler in Mexico . During the colonial period, the city's motto was "Muy Noble e Insigne, Muy Leal e Imperial" (Very Noble and Distinguished, Very Loyal and Imperial). During Andrés Manuel López Obrador 's administration a political slogan was introduced: la Ciudad de la Esperanza ( lit.   ' The City of Hope ' ). This motto

8875-438: The colonial period to work on infrastructure to prevent flooding. Floods were not only an inconvenience but also a health hazard, since during flood periods human waste polluted the city's streets. By draining the area, the mosquito population dropped as did the frequency of the diseases they spread. However, draining the wetlands also changed the habitat for fish and birds and the areas accessible for indigenous cultivation close to

9000-506: The construction of large sporting facilities. In 1969, the Mexico City Metro was inaugurated. Explosive growth in the population of the city started in the 1960s, with the population overflowing the boundaries of the Federal District into the neighboring State of Mexico, especially to the north, northwest, and northeast. Between 1960 and 1980 the city's population more than doubled to nearly 9 million. In 1980, half of all

9125-400: The crossing of Avenida de los Insurgentes and Paseo de la Reforma, the construction of prism shaped concrete structures in the median which also have plants and flowers, the promotion of Reforma as a cultural walk organizing different expositions along the avenue sidewalks, and the maintenance of the monuments, sculptures and fountains. Also, a touristic route that goes from Chapultepec Park to

9250-429: The draining of Lake Texcoco and global warming have greatly reduced snowfalls after the snow flurries of 12 February 1907. Since 1908, snow has only fallen three times, snow on 14 February 1920; snow flurries on 14 March 1940; and on 12 January 1967, when 8 centimeters (3 in) of snow fell on the city, the most on record. The 1967 snowstorm coincided with the operation of Deep Drainage System that resulted in

9375-596: The expansion of the city from the colonial center to an area more easily open to development for residences and businesses of the capital's middle and upper classes, separating them from the poorer and indigenous residents of the colonial core. Development occurred especially during the President Díaz 's regime (1876–1911). Structures were of more modern and diverse architectural design. Few of these original houses built in different European architectural styles remain and office blocks have been built on their place over

9500-553: The final siege of the conquest. Cortés first settled in Coyoacán , but decided to rebuild the Aztec site to erase all traces of the old order. He did not establish a territory under his own personal rule , but remained loyal to the Spanish crown. The first Spanish viceroy arrived in Mexico City fourteen years later. By that time, the city had again become a city-state , having power that extended far beyond its borders. Although

9625-535: The first foreign company to begin trading in the BMV, opening the door to many new companies to do the same, especially from Central and South America. The same year, the Securities' Market Law was reformed according to the demutualisation of BMV. The following year, the Corporativo Mexicano del Mercado de Valores, S.A. de C.V. was constituted to manage the hiring of personnel, and administration of

9750-471: The first president of Mexico, is honored in a low key way considering his accomplishments. Others with name recognition in Mexican history are Fray Servando Teresa de Mier (1765–1827), Carlos Maria de Bustamante (1774–1848), historian; José María Luis Mora (1794–1850); Miguel Ramos Arizpe (1775–1843), "father of Mexican federalism"; Andrés Quintana Roo (1787–1851), after whom a state is named; Miguel Lerdo de Tejada (1812–1861), prominent politician in

9875-581: The highest temperature on record was 34.7 °C (94.5 °F) on 25 May 2024. Overall precipitation is heavily concentrated in the summer months, and includes dense hail . Snow falls in the city scarcely, although somewhat more often on nearby mountaintops. Throughout its history, the Central Valley of Mexico was accustomed to having several snowfalls per decade (including a period between 1878 and 1895 in which every single year—except 1880—recorded snowfalls ), mostly lake-effect snow . The effects of

10000-543: The history of the Americas are situated on and along Reforma. The most prominent monuments are in the centers of its major traffic circles, with the monuments to Columbus, Cuauhtemoc, and the monument to Independence, "El Ángel" (1910), the most famous of the monuments. There is a lengthy list of statues added over the years along the broad avenue's sides. They mainly honor Mexican liberals, as well as some writers and journalists who influenced political discourse. Guadalupe Victoria (1786–1843), military hero of independence and

10125-669: The imperial residence, Chapultepec Castle , which was then on the southwestern edge of town. The project was originally named Paseo de la Emperatriz ("Promenade of the Empress") in honor of Maximilian's consort Empress Carlota . After the fall of the Empire and Maximilian's subsequent execution, the Restored Republic renamed the Paseo in honor of the La Reforma . It is now home to many of Mexico's tallest buildings such as

10250-610: The industrial jobs in Mexico were located in Mexico City. Under relentless growth, the Mexico City government could barely keep up with services. Villagers from the countryside who continued to pour into the city to escape poverty only compounded the city's problems. With no housing available, they took over lands surrounding the city, creating huge shanty towns . The inhabitants of Mexico City faced serious air pollution and water pollution problems, as well as groundwater-related subsidence . Air and water pollution has been contained and improved in several areas due to government programs,

10375-655: The insurgency, occurred four days later. After a decade of war, Mexico's independence from Spain was effectively declared in the Declaration of Independence of the Mexican Empire on 27 September 1821. Agustín de Iturbide is proclaimed Emperor of the First Mexican Empire by Congress, crowned in the Cathedral of Mexico . The Mexican Federal District was established by the new government and by

10500-517: The largest Spanish-speaking city (city proper) in the world. Greater Mexico City has a GDP of $ 411 billion in 2011, which makes it one of the most productive urban areas in the world . The city was responsible for generating 15.8% of Mexico's GDP, and the metropolitan area accounted for about 22% of the country's GDP. If it were an independent country in 2013, Mexico City would be the fifth-largest economy in Latin America . Mexico City

10625-406: The last half of the 18th century. Many of these palaces can still be seen today, leading to Mexico City's nickname of "The city of palaces" given by Alexander Von Humboldt . The Grito de Dolores ("Cry of Dolores"), also known as El Grito de la Independencia ("Cry of Independence"), marked the beginning of the Mexican War of Independence . The Battle of Guanajuato, the first major engagement of

10750-452: The levels of these two pollutants reached critical levels, contingency actions were implemented which included closing factories, changing school hours, and extending the A day without a car program to two days of the week. The government also instituted industrial technology improvements, a strict biannual vehicle emission inspection and the reformulation of gasoline and diesel fuels . The introduction of Metrobús bus rapid transit and

10875-535: The liberal Reform; Melchor Ocampo (1814–1861), radical liberal, murdered during the War of the Reform ; Guillermo Prieto (1818–1897), prominent journalist; Gabino Barreda (1818–1881), Positivist philosopher and educator; Ignacio Manuel Altamirano (1834–1893), intellectual and writer of indigenous origins; and Vicente Riva Palacio (1832–1896), liberal general, writer, and politician, who died in Spanish exile. History

11000-564: The lower Cenolithic period (9500–7000 BC). However, a 2003 study placed the age of the Peñon woman at 12,700 years old (calendar age), one of the oldest human remains discovered in the Americas. Studies of her mitochondrial DNA suggest she was either of Asian or European or Aboriginal Australian origin. The area was the destination of the migrations of the Teochichimecas during the 8th and 13th centuries, people that would give rise to

11125-489: The main campus of the National Autonomous University of Mexico . Designed by the most prestigious architects of the era, including Mario Pani , Eugenio Peschard , and Enrique del Moral , the buildings feature murals by artists Diego Rivera , David Alfaro Siqueiros , and José Chávez Morado . It has since been recognized as a UNESCO World Heritage Site . The 1968 Olympic Games brought about

11250-424: The metropolitan area. The area receives about 820 millimeters (32 in) of annual rainfall, which is concentrated from May through October with little or no precipitation for the remainder of the year. The area has two main seasons. The wet humid summer runs from May to October when winds bring in tropical moisture from the sea, the wettest month being July. The cool sunny winter runs from November to April, when

11375-667: The name Bolsa de México, and the administrative offices at the Plateros Street address. The company was officially inaugurated on 21 October 1895. By the start of the following year, Bolsa de México had three public issuing companies and eight private ones, among them, the Bank of Mexico , the National Bank of Mexico , and the Banco de Londres y México  [ es ] (later acquired by Banco Santander ). On 1 March 1933,

11500-508: The old Aztec ceremonial center. The existing central plaza of the Aztecs was effectively and permanently transformed to the ceremonial center and seat of power during the colonial period, and remains to this day in modern Mexico, the central plaza of the nation. The rebuilding of the city after the siege of Tenochtitlan was accomplished by the abundant indigenous labor in the surrounding area. Franciscan friar Toribio de Benavente Motolinia , one of

11625-576: The only stock exchange in Mexico. On 19 April 1990, the Centro Bursátil was finished on Paseo de la Reforma , turning the Stock Exchange Centre into the heart of the financial district of Mexico City. Five years later, the BMV completely modernised the centre, introducing a completely electronic system (BMV-SENTRA) which was phased into the workings of the exchange, becoming fully operational by 1999. In 2001, Citigroup became

11750-419: The over-extraction of groundwater, called groundwater-related subsidence . Since the beginning of the 20th century the city has sunk as much as nine meters (30 feet) in some areas. On average Mexico City sinks 20 inches (1 foot and 8 inches) or 50 centimetres (1/2 meters ) every year. This sinking is causing problems with runoff and wastewater management, leading to flooding problems, especially during

11875-587: The pine forests of the Desierto de los Leones National Park . Amusement parks include Six Flags México , in Ajusco neighborhood which is the largest in Latin America. There are numerous seasonal fairs present in the city. Mexico City has three zoos. Chapultepec Zoo , the San Juan de Aragon Zoo  [ es ; no ] and Los Coyotes Zoo . Chapultepec Zoo is located in the first section of Chapultepec Park in

12000-516: The political disputes of the country. It was the imperial capital on two occasions (1821–1823 and 1864–1867), and of two federalist states and two centralist states that followed innumerable coups d'états in the space of half a century before the triumph of the Liberals after the Reform War . It was also the objective of one of the two French invasions to Mexico ( 1861–1867 ), and occupied for

12125-568: The population of Mexico City was about 500,000. The city began to grow rapidly westward in the early part of the 20th century and then began to grow upwards in the 1950s, with the Torre Latinoamericana becoming the city's first skyscraper. The rapid development of Mexico City as a center for modernist architecture was most fully manifested in the mid-1950s construction of the Ciudad Universitaria, Mexico City ,

12250-636: The postal abbreviation of the Federal District in Spanish: D.F., which is read "De-Efe"). They are formally called capitalinos (in reference to the city being the capital of the country), but "[p]erhaps because capitalino is the more polite, specific, and correct word, it is almost never utilized". The oldest signs of human occupation in the area of Mexico City are those of the " Peñón woman " and others found in San Bartolo Atepehuacan ( Gustavo A. Madero ). They were believed to correspond to

12375-469: The present." Initially, liberal General Vicente Riva Palacio , grandson of liberal leader of independence Vicente Guerrero , was involved in projects to raise the capital's profile when he served as Díaz's Minister of Development ( fomento ) (1876–1879). As part of the centralizing impetus of Díaz's government, the Paseo de la Reforma was to include statues of heroes and cultural eminences of Mexico's constituent states, although some state leaders objected to

12500-432: The presidency was set between the P.R.I. 's candidate, Carlos Salinas de Gortari, and a coalition of left-wing parties led by Cuauhtémoc Cárdenas , son of the former president Lázaro Cárdenas . The counting system "fell" because coincidentally the power went out and suddenly, when it returned, the winning candidate was Salinas, even though Cárdenas had the upper hand. As a result of the fraudulent election, Cárdenas became

12625-503: The previous day's value, rather than the base date of October 30, 1978. Since February 2009 the IPC index has included BMV's own A shares. Indice Mexico (INMEX) is a market capitalization weighted index of 20 to 25 of the BMV's most highly marketable issuers, using their most representative series. The sample is limited to issuers with a minimum market value of $ 100 million and is revised every six months. The weighting cannot be greater than 10% at

12750-577: The reassertion of traditional Mexico City's power. The major intersections of the broad avenue were traffic roundabouts ( glorietas ) where statues commemorating persons and events in Mexican history were placed over the next decades. The first monument on the Paseo was the Monument to Christopher Columbus , which had been commissioned in 1873 by wealthy Mexican railway magnate Antonio Escandón and executed by French sculptor Charles Cordier in France. It

12875-472: The renovation of vehicles and the modernization of public transportation. The autocratic government that ruled Mexico City since the Revolution was tolerated, mostly because of the continued economic expansion since World War II. This was the case even though this government could not handle the population and pollution problems adequately. Nevertheless, discontent and protests began in the 1960s leading to

13000-593: The right to elect both a head of government and the representatives of the unicameral Legislative Assembly by election in 1997. Ever since, left-wing parties (first the Party of the Democratic Revolution and later the National Regeneration Movement ) have controlled both of them. The city has several progressive policies, such as elective abortions , a limited form of euthanasia , no-fault divorce , same-sex marriage , and legal gender change . On 29 January 2016, it ceased to be

13125-569: The rise in the creation of maquiladoras in northern Mexico, as well as the accumulation of capital and the constant creation of new businesses at the time, the Monterrey Stock Exchange was established, and it grew to serve the entire North of the country, reaching over 100 listings. Soon after, businesses in Guadalajara started organising a third stock exchange, and in 1960, the Occidental Stock Exchange

13250-474: The saltiness of the soil would supposedly not support the lush vegetation required. Despite opposition, the project continued. After a competition, it was assigned to the brothers Juan and Ramón Agea under the supervision of the Ministry of Development, Colonization, Industry and Commerce, headed by Luis Robles Pezuela. Of the original 3.15 km-long project, only one part was completed between 1864 and 1865,

13375-417: The siege of Tenochtitlan, and during colonial times the Spanish regularly drained the lake to prevent floods. Only a small section of the original lake remains, located outside Mexico City, in the municipality of Atenco , State of Mexico . Architects Teodoro González de León and Alberto Kalach along with a group of Mexican urbanists, engineers and biologists have developed the project plan for Recovering

13500-595: The signing of their new constitution, where the concept of a federal district was adapted from the United States Constitution . Before this designation, Mexico City had served as the seat of government for both the State of Mexico and the nation as a whole. Texcoco de Mora and then Toluca became the capital of the State of Mexico. During the 19th century, Mexico City was the center stage of all

13625-681: The start of each calculation period. Some major examples: Mexico City This is an accepted version of this page Mexico City is the capital and largest city of Mexico , and the most populous city in North America . It is one of the most important cultural and financial centers in the world. Mexico City is located in the Valley of Mexico within the high Mexican central plateau , at an altitude of 2,240 meters (7,350 ft). The city has 16 boroughs or demarcaciones territoriales , which are in turn divided into neighborhoods or colonias . The 2020 population for

13750-534: The stock exchange itself were listed, placing BMV in the first place in Latin America in terms of ETFs listed over own indexes, and as the leading stock exchange in terms of total ETFs. In 2010, the BMV signed an alliance with the world's largest derivatives exchange, the Chicago Mercantile Exchange , putting Mexican derivatives within reach of international investors. The Mexican Stock Exchange, BMV, announced its first trade made as part of

13875-462: The summer. The entire lake bed is now paved over and most of the city's remaining forested areas lie in the southern boroughs of Milpa Alta , Tlalpan and Xochimilco . Originally much of the valley lay beneath the waters of Lake Texcoco , a system of interconnected salt and freshwater lakes. The Aztecs built dikes to separate the fresh water used to raise crops in chinampas and to prevent recurrent floods. These dikes were destroyed during

14000-417: The total draining of what was left of Lake Texcoco. After the disappearance of Lake Texcoco, snow has never fallen again over Mexico City. The region of the Valley of Mexico receives anti-cyclonic systems. The weak winds of these systems do not allow for the dispersion, outside the basin, of the air pollutants which are produced by the 50,000 industries and 4 million vehicles operating in and around

14125-488: The viceregal palace on the main square or Zócalo . The Mexico City Metropolitan Cathedral , the seat of the Archbishopric of New Spain, was constructed on another side of the Zócalo, as was the archbishop's palace, and across from it the building housing the city council or ayuntamiento of the city. A late seventeenth-century painting of the Zócalo by Cristóbal de Villalpando depicts the main square, which had been

14250-477: The years. Although there is no single block that has kept its former architecture, a couple of scattered buildings show the opulence enjoyed by the elites during Porfirio Díaz' regime. Although most of the modern buildings are unremarkable, the Art Deco Lotería Nacional building and the functionalist IMSS building are an exception. Today Paseo de la Reforma houses offices ranging from

14375-602: Was at this time for the exclusive use of the imperial court, a policy enforced by a dedicated police force. At the time, people with horses or horses and carriages, promenaded along the Paseo de Bucareli (today Avenida Bucareli between Avenidas Juárez and Chapultepec. After the downfall of the Second Mexican Empire and the restoration of the republic in 1867, the Paseo de la Emperatriz was renamed Calzada Degollado in honor of General Santos Degollado and then in 1872 Paseo de la Reforma. On February 17, 1867

14500-423: Was built in the center of the inland lake system, with the city reachable by canoe and by wide causeways to the mainland. The causeways were rebuilt under Spanish rule with indigenous labor. Colonial Spanish cities were constructed on a grid pattern, if no geographical obstacle prevented it. In Mexico City, the Zócalo (main square) was the central place from which the grid was then built outward. The Spanish lived in

14625-468: Was erected in 1877, shortly after Díaz seized power. For liberals it was objectionable for its religious iconography and a second statue to Columbus was placed elsewhere in the capital in 1892. The Monument to Cuauhtémoc was a planned installation. The monument to Independence was inaugurated in 1910, during the celebrations of the centennial of the Hidalgo revolt. In 2003 Mexico City's government started

14750-526: Was established to serve the West coast of Mexico. Because of low performance in the Guadalajara and Monterrey stock exchanges, however, Congress passed in 1975 the Securities' Market Law, which prompted the Bolsa de Valores de México to change its name to Bolsa Mexicana de Valores (Mexican Stock Exchange) and merge the other two exchange houses into it, creating thus the single entity that remains to this day

14875-424: Was established, known as México Tenochtitlán , and as of 1585, it was officially known as Ciudad de México (Mexico City). Mexico City played a major role in the Spanish colonial empire as a political, administrative, and financial center. Following independence from Spain , the federal district was established in 1824. After years of demanding greater political autonomy , residents were finally given

15000-456: Was never completed, and the other to connect the city center with Chapultepec Castle. The latter was named Paseo de la Emperatriz, in honor of Empress Carlota, and was to be for the personal use of the Emperor. Austrian mining engineer Alois Bolland was put in charge of the project and designed what was finally implemented. The route and the construction of six boulevards radiating outward from

15125-418: Was not political but rather a very conservative Spanish social one, based on proving the worthiness of the family. Most of these families proved their worth by making fortunes in New Spain outside of the city itself, then spending the revenues in the capital, building churches, supporting charities and building extravagant palatial homes. The craze to build the most opulent residence possible reached its height in

15250-554: Was quickly adopted as a city nickname but has faded since the new motto, Capital en Movimiento ("Capital in Movement"), was adopted by the administration headed by Marcelo Ebrard , though the latter is not treated as often as a nickname in media. Up until 2013, it was common to refer to the city by the initialism "DF" from "Distrito Federal de México". Since 2013, the abbreviation "CDMX" (Ciudad de México) has been more common, particularly in relation to government campaigns. The city

15375-498: Was signed in what is now the far north of the city. The capital escaped the worst of the violence of the ten-year conflict of the Mexican Revolution . The most significant episode of this period for the city was the Decena Trágica ("Ten Tragic Days") of February 1913, when forces counter to the elected government of Francisco I. Madero staged a successful coup. The center of the city was subjected to artillery attacks from

15500-515: Was then the edge of the city, 1.5 km west of the Zócalo, where Avenida Bucareli meets Avenida Juárez and where the Equestrian statue of Charles IV of Spain stood. From that location, the Paseo's route led to the bottom of the royal residential area at Chapultepec Castle , where it connected to the road circling up to the castle at the top of the hill. The Austrian engineers Bolland and Ferdinand van Rosenzweig were assigned to construct

15625-403: Was where major celebrations took place as well as executions. It was also the site of two major riots in the seventeenth century, one in 1624, the other in 1692. The city grew as the population did, coming up against the lake's waters. As the depth of the lake water fluctuated, Mexico City was subject to periodic flooding. A major labor draft, the desagüe , compelled thousands of indigenous over

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