The exchange is the result of private sector initiatives encouraging the country's market liberalization programmes, which began in 1990.
Trading operations officially began on January 31, 1994, and as of 2006 BVN is the only organized stock exchange existing in the country.
BVN offers domestic investors and foreign shareholders a platform to conduct operations within the framework of an open market economy.
The main characteristics of this market are the following: (1) Fixed income financial instruments in U.S. dollars and local currency indices; (2) A total exemption of income and capital gains taxes for traded securities; (3) No restrictions on foreign direct investment (FDI); (4) An effective regulatory frame.
[2] This institution supervises trading activity, market positions, as well as stock brokers, banks, insurance companies and issuers of securities.