Bolsa de Valores de la República Dominicana BVRD

(Stock Market of the Dominican Republic)

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Serious Information

Trivia

It is one of the most active stock exchanges in Latin America.

The Dominican Republic's first stock exchange came into legal existence under Presidential Decree No. 554-89 that was passed in February 20, 1989 as de la Bolsa de Valores de Santo Domingo Inc, but actually did not begin formal operations until December 1991. Robert Bishop, former vice - president of the New York Stock Exchange has assisted set up the exchange. Yet the organization traces it's roots back to the 5th of April 1980, when a group of industrialist began to meet with the purpose of formalizing a market; and to create regulations guarding the transparency and the efficiency of the operations in the market. The group made up of Ricardo Valdéz Albízu, Hector Rizek, Ramon Mena, Winston Marrero, Otto Montero, Frederic Eman-Zadé, Luis Sabater and Rosendo Alvarez III, was made the managing Committee.

In 1997 the name changed from de la Bolsa de Valores de Santo Domingo Inc to Bolsa de Valores de la República Dominicana Inc.

The market is still relatively new, and the concept of both an equity and capital market is just coming into consciousness. Despite the limitations resulting from inadequate legislation, transactions at the BVRD grew steadily during the 1990s.

There are twenty brokerage houses registered at BVRD. Thirteen belong to financial groups and only seven are operative and belong to banking institutions. Almost 75 % of securities transactions are cross transactions in which both the buyer and the seller are clients of the same brokerage house. In recent years laws were approved in an attempt to give new life to the Dominican securities market. In 2000, the Securities Market Law (SML), was enacted, creating the Superintendence of Securities (Superintendencia de Valores, SIV) as the regulatory agency of the securities market. There are 24 securities brokers and no registered securities agents. There is one commodities exchange in the nation, the Bolsa Agroempresarial de la Republica Dominicana, S.A., with 14 registered brokerage houses.

http://www.bolsard.com/

address

Av. John F. Kennedy #16, Edif. Empresarial, 1er. Piso * Aptdo. Postal 25144 * Santo Domingo, Dominican Republic

Teléphone: (809) 567-6694/96 * Fax: (809) 567-6697

Trivia

Once ruled by Spain, the Dominican Republic (DR) shares the island of Hispaniola with Haiti, a former French colony.

Once dependent on the export of sugar and other agricultural products, the DR has become the most popular tourist destination in the Caribbean. Tourism, and the DR's free-trade zones, have become major employers and key sources of revenue.

The largely mountainous country includes Pico Duarte - the highest point in the West Indies, the fertile Cibao Valley, swathes of desert, and Lake Enriquillo - the lowest point in the region. The largely mountainous country includes Pico Duarte - the highest point in the West Indies, the fertile Cibao Valley, swathes of desert, and Lake Enriquillo - the lowest point in the region. Although inhabited mostly by people of mixed European and African origins, Western influence is apparent in the colonial buildings of the capital, Santo Domingo

Population: 9 million (UN, 2005)
Area: 48,072 sq km (18,696 sq miles)
Major language: Spanish
Major religion: Christianity
Monetary unit: 1 Dominican peso = 100 centavos
Main exports: Ferronickel, sugar, gold, silver, coffee, cocoa, tobacco, meats
GNI per capita: US$2,080 (World Bank, 2005)
Internet domain: .do

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