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NameBolsa Nacional de Valores
CountryCosta Rica
Number of listed companies10
Domestic market capitalization2,037 million US$
SSE Partner ExchangeYes
Has annual sustainability reportYes

ESG reporting required as a listing ruleNo
Has written guidance on ESG reportingYes

Offers ESG related trainingYes

Market covered by sustainability-related indexNo
Has sustainability bond listing segmentNo
Has SME listing platformNo
Women on boards mandatory minimum ruleNo
Additional information
  • The BNV promotes projects that generate economic, social and environmental value, such as:
    • Providing textbooks, school supplies and computer labs to schools, as well as facilitating improvements in classroom infrastructure.
    • Supporting new entrepreneurs as a jury and sponsor of the Seedstars Costa Rica edition, an event that awards innovative small entrepreneurs with potential projects.
  • BNV Aprenda is a form of self-taught training online which allows users to learn about the Costa Rican stock market.
  • MAPA, the Mercado Alternativo para Acciones, is an initiative that promotes raising capital for small- and medium-sized enterprises (SMEs). Through MAPA, BNV helps SMEs in adopting governance best practice and becoming more professional.

Organizational model of stock exchange
  • Private company owned by the brokerage companies (mutualized), and it is not a listed company.

Regulatory bodies

Regulatory model
  • Government (Statutory).
  • In Costa Rica exists the Consejo Nacional de Supervisin del Sistema Financiero (CONASSIF) which is the superior regulator entity in Costa Rica, its purpose is to provide uniformity and integration to the activities of regulation and supervision of the Costa Rican Financial System. CONASSIF executes its work on the Superintendencia General de Entidades Financieras (SUGEF), the Superintendencia General de Seguros (SUGESE), the Superintendencia de Pensiones (SUPEN) and the Superintendencia General de Valores (SUGEVAL).
  • Meanwhile, the SUGEVAL is the entity in charge of supervising the whole securities market, the National Stock Exchange is supervised by it. Moreover, in Costa Rica exist a regulation (Securities Market Regulatory Law N7732) that has as a main purpose the regulation of: the securities markets, the individuals and legal entities that directly or indirectly participate in this market. Furthermore, the National Stock Exchange must regulate the operation of the market and autorized the Brokers and Brokerages.

About the stock exchange

Location: San Jos, Costa Rica

  • Founded: 29 September 1976.
  • The National Stock Exchange of Costa Rica is a private organization owned by brokerages in accordance with the Securities Market Regulatory Law. The main purpose of the exchange is to facilitate transactions with securities, as well as the authorization, inspection and regulation of brokers. In addition, the exchange provides the technological platform that facilitates the trade of securities, and provides a meeting point between investors and issuers that requires financing of public and private projects.
  • The exchange is the only platform for the secondary market, based on national regulation.
  • The BNV contributes to the formation of prices of traded securities and provides a strong regulated structure that gives transparency and confidence to the various market participants.
  • The BNV is the biggest and oldest exchange in the Central America region.