The Caracas Stock Exchange or Bolsa de Valores de Caracas (BVC) is a stock exchange located in Caracas, Venezuela. Established in 1947, BVC merged with a competitor in 1974.
Operational and Legal Structure
BVC is a private exchange, providing operations for the purchase and authorized sale of securities according to the Capital Marketing Laws of Venezuela. It is member of the Executive Committee of the Latin American Federation of Stock markets. At the exchange, companies emit by procedures authorized by the regulating authorities, instruments of fixed income and securities (renta fija y de renta variable) with the purpose of securing capital from public investors. BVC is also used as a location for trading in Bonds and other debt instruments.
The legal structure prevailing in the Venezuelan capital market are the Securities Marketing Law (la Ley de Mercado de Capitales, enacted in 1975 and amended in 1998), Transaction Law (Ley de Caja de Valores), the Statutory Law of Public Credit (Ley Orgánica de Crédito Público), the Law of Organizations of Collective Investment and the norms dictated by the National Exchange Commission (Comisión Nacional de Valores, or CNV). Exchange activities are regulated and supervised by the National Exchange Commission, a public entity assigned to the Ministry of Finance, that authorizes internal procedures and regulations.