The Montevideo Stock Exchange or Bolsa de Valores de Montevideo (BVM), also known as the Bolsa de Montevideo, is the principal stock exchange of Uruguay. It is based in Montevideo and was founded in 1867. The institution's primary function is to provide a platform for the realization of laying operations, trading and safekeeping of public and private securities.
Trading involves the buying and selling of existing securities in the secondary market. Securities custody is a service that provides support and security to investors, reducing the risk of loss, theft or forgery.
In addition to providing services to its members, the BVM also provides services to the issuers of securities and to society as a whole.
The exchange's transactions total almost 3 billion annually.
BVM can hold operations for stockbrokers and special partners. Stockbrokers must be members of the BVM and meet the requirements determined by the Uruguayan laws and regulations of the Central Bank of Uruguay. Special partners are institutions authorized to operate that do not have quality partnership from BVM. Special Members may be banks, fund managers, pensions, social security institutions or insurance companies.
The BVM is administered by a committee composed of seven members. In addition the Board has a BVM Fiscal Commission and a Court of Ethics, composed of stockbrokers.
History
The Montevideo Stock Exchange has its origins in the nineteenth century, when the "Montevideo Bag Society" was created in 1867.