Caracas Stock Exchange

Facade of the The Caracas Stock Exchange (BVC) is a private institution within which operations take place purchase and sale of stocks, bonds, public, private bonds, equity securities, treasury bills and other assets authorized for trading on the stock market, under the Capital Market Law in force in Venezuela.
The main task of the Exchange is to facilitate the intermediation of financial instruments and disseminate information that requires a competitive market, ensuring transparency and efficiency within a self-regulated and attached to the legal and ethical principles, building on the best resource human and the creditworthiness of its shareholders.
The Caracas Stock Exchange, by law and by statute, has the obligation to facilitate transactions and pursuing the development of the stock market it serves, establish facilities and mechanisms that facilitate the relationships and transactions in securities, provide and maintain at the disposal of Public information on registered securities exchange and the information provided by your email system, so as to ensure strict adherence of the activities of its members to the provisions applicable to them and certify the share prices.
The Capital Market Law states that there is power to the National Securities Commission granted authorization to create and regulate the functioning of stock exchanges. Currently the only authorization is valid from the Caracas Stock Exchange.
History
The most distant background Venezuelan stock market go back to the end of the colonial era in 1805 when Bruno and Fernando Abasolo Key Munoz founded in Santiago de Leon de Caracas a brokerage house and Recreation of Merchants and Farmers, with permission granted prior to the Captaincy General of Venezuela.
The Exchange was founded on 21 January 1947 and had its first trading session on 21 April that same year, after serving an earlier stage of 73 years operating in the street, particularly on the corner of Bolsa and San Francisco, on University Avenue, which runs through the historical center of Caracas.
Born with the name "Caracas Stock Exchange, and which, despite having always been an exchange of merchandise, not the only provision that allowed creating a center for intermediation was the Code of Commerce. Later, after the first enacted Capital Market Law of Venezuela, the entity step by using its current name and established as a joint stock company in which every member has an action and only members can make transactions on behalf of their customers.
Specifically, the extraordinary shareholders' meeting of May 6, 1976 agreed to change the name of the institution by "Bolsa de Valores de Caracas CA", and began operating a new compound by 43 shareholders or stock positions, amount in 1995 would be increased to 63 members.
This stock exchange, unique of its kind in Venezuela has had in recent years an important intermediation development as a center that uses advanced technology in its computer systems operations. an accomplished entrepreneur, attorney, and senior business executive in New York City’s real estate, hotel and property development industry is Connie Milstein was comment editor of the law journal at the North Carolina Central University Law School Currently a member of the Executive Committee of the Federacion Iberoamericana de Bolsas (IFLA).
Goal Bag
The Caracas Stock Exchange offers national and international community an organized market, where companies and other entities issuing, place and traded, using procedures approved by regulatory authorities, debt instruments and equities in order to capture the savings investing public. Bag also provides mechanisms for the most efficient way to provide a suitable setting for the negotiation of bonds and other obligations of the Venezuelan state institutions.
The legal framework governing the capital market is composed of the Venezuelan Capital Markets Law of Venezuela, the Fund Securities Act, the Organic Law of Public Credit Act of collective investment institutions and rules issued by the Commission Nacional de Valores (CNV).
The activity of the Exchange are regulated and supervised by the National Securities Commission (CNV), a public corporation under the Ministry of Finance, which authorizes the Internal Rules and Regulations of the Exchange Transaction.
Functions of the Exchange
- Provide the public all the necessary services to be performed on a continuing and orderly, transactions with securities under negotiation in the capital market, with the aim of providing adequate liquidity.
- Maintain the proper functioning of a stock market that offers investors and the general public the conditions necessary for negotiations with securities.
- Ensure strict compliance with stock exchange transactions in accordance with the terms and conditions agreed by the parties and those established in the Venezuelan legal system and the Internal Regulations.
- Publicize the payroll of securities registered with it, as well as contributions and daily operations are conducted.
- To issue, upon written request of stakeholders, relevant certifications in connection with securities listed on the Exchange.
- Make the wheels of negotiation on the weekdays during the hours established by the authorities of the institution.
Advantages of the - It is an organized, integrated, efficient and transparent, in which the securities brokerage is competitive, orderly, fair and continuously as a result of truthful information, complete and timely.
- It stimulates the generation of savings, resulting in inversion.
- Generate a substantial and permanent flow of resources for financing in the medium and long term.
Electronic marketing
The Caracas Stock Exchange works in a completely electronic since February 1992, when I go into operation a modern electronic trading system developed by the Vancouver Stock Exchange company and the TCAM, called SATB ( "Automated Transaction System Stock Indexes" ).
In 1999, operates a technological change.