Caracas Stock Exchange

BVC is a private exchange, providing operations for the purchase and authorized sale of securities according to the Capital Marketing Laws of Venezuela.

Additional members include Santiago Fernández Castro, Marcel Apeloig, Omar Delgado, José Gregorio Castro, Gabriel Osío, Jesús Tadeo Prato, Luis Oberto, Carlos Fernández and Mario Dickson, as well as by advisers Luis Andrés Guerrero and Rubén Manzur.

BVC experienced a severe decline in traded volumes since the mid-1990s as a result of a declining economy, the migration of stocks to the U.S. markets in the form of American Depositary Receipts (ADRs), corporate takeovers with a concomitant reduction in the number of shares available for trade and an increasing country risk that has frightened investors, particularly foreign investors.

Stock prices, measured by the Indice Bursátil Caracas, were also depressed during the 1990s and have yet to recover to the highest ever levels experienced in 1991.

On July 2, 1999 another technological change was made when the SIBE (Sistema Integrado Bursátil Electrónico), electronic trading system was officially incorporated into the Caracas Stock Exchange.