Mexico's stock exchange, Bolsa Mexicana de Valores (BMV), is the only stock market south of the border. The BMV trades domestic and foreign debt and equities, while derivatives are traded on the MexDer exchange. Its over-the-counter market, SIF-ICAP, is a partnership with interdealer broker ICAP. The BMV also offers custody, clearing, and settlement services for each transaction, and market data services through a subsidiary, Valmer. Only about 125 companies (including itself) are listed on the BMV, which went public in 2008 in a $444 million inital public offering. Bolsas y Mercados Espanoles owns a minority stake of about 5%.