Stock exchanges
Number of listed companies
Domestic market capitalization
million US$

Bolsa de Valores Nacional, S.A. (BVNSA)

Name Bolsa de Valores Nacional S.A. (BVNSA)
Country Guatemala
Number of listed companies 17
Domestic market capitalization 16016 million US$
SSE Partner Exchange Yes
Has annual sustainability report No

ESG reporting required as a listing rule No

Has written guidance on ESG reporting No

Offers ESG related training Yes

In 2022, BVNSA provided training on Climate-related Financial Disclosures (TCFD recommendations) in collaboration with the SSE, CDP and IFC. (source)

Market covered by sustainability-related index No

Has sustainability bond listing segment No

Has SME listing platform No

Women on boards mandatory minimum rule No

Additional information
Organizational model of stock exchange

Private company owned by brokerage companies (mutualized), and independent shareholders. BNV is not a listed company.

Regulatory bodies

Regulatory model

Bolsa de Valores Nacional, S.A. (BVN) is a private company registered as a Stock Exchange, which is a parent company to Central de Valores Nacional, S.A. (CVN), its CSD. BVN and CVN fall under the registral jurisdiction of the RMVM, a dependency of the Government’s Ministry of Economy in charge of the control of legality of all participants in the country’s Capital Market as well as registering their existence and overseeing their transparency.  BVN is a SRO, thus providing its own requirements for its members and issuers. All rules and regulations regarding public offerings must be submitted to the RMVM and published in the Official Diary. BVN provides daily information regarding transactions and offerings.

About the stock exchange

BVN is currently the only stock exchange in Guatemala. Founded in 1986, it started operating in 1987 and as of October 2021 it has 17 stock brokerage firms as members. Its CSD functioned for many years as an internal department of the Exchange but became an independent corporation in 2011. BVN was a member of BOLCEN (Central American and the Caribbean Exchange Association) and is currently a founding member of AMERCA (Association of Capital Markets of the Americas), an alliance constituted by 10 Latin American Exchanges, whose objective is the construction of a regional market. CVN is a member of ACSDA and has subscribed agreements with other regional CSDs in order to provide its customers with a broader range of trading and settlement. In 2021 BVN was invited to the SSE’s “Ring the Bell for Gender Equality”.

Criteria for Stock Exchange Database

The SSE maintains a database of sustainability activities for all stock exchanges that are either members of the SSE initiative and/or members of the World Federation of Exchanges. This database is the most comprehensive database of stock exchanges worldwide and contains data on all main stock exchanges. The information in this database is intended to inform investors and other stakeholders on the work stock exchanges are undertaking to advance sustainability in their respective markets.

The information provided in this database is based on publicly available information prepared by the SSE Secretariat with input from stock exchanges in most instances. Sources and explanatory notes on sustainability information have been included in individual Stock Exchange Fact Sheets. The criteria for each category can be found below.

While every effort is made to keep the information in this database up to date, please be aware that certain factors change frequently and therefore may not be exact, such as the number of listed companies or market cap.


Criteria Considered

Country Country of primary residence or registration
Has signed the SSE Commitment Letter? To be considered an SSE Partner Exchange, the CEO or Chairperson of the exchange must sign an SSE commitment letter. Contact the SSE for more information if your exchange would like to join.
Has annual sustainability report? For a yes, stock exchanges must report, either in a stand alone report or integrated into their financial report, on their environmental and social impact and corporate governance.
ESG reporting required as a listing rule? For a yes, all three factors have been considered (environmental, social and governance) within the listing rules for some or all listed companies. This requirement may come from the regulatory authority or the exchange, depending on the market.
Offers written guidance on ESG reporting? For a yes, all three factors have been considered (environmental, social and governance). The SSE has developed a model guidance that all exchanges can use to develop their own guidance to issuers. For more details, click here.
Offers ESG related training? For a yes, training must have taken place in the previous 12 months, and must be interactive. The topic of the training must be on some area of sustainability.
Market covered by sustainability-related index? Sustainability-related indices may include environmental or social  indices, or ESG indices. This could include specific themes, such as low carbon indices, or general sustainability indices. The index must be specific to the market the exchange operates in (a region or world index is not included).
Has sustainability bond listing segment? For a yes, the exchange has developed the rules and regulations allowing for sustainability bonds to be listed, and provides a separate segment for listing making the bonds easy to find and identify.
Has an SME listing platform? For a yes, the exchange offers a listing platform specifically for Small-and-Medium sized enterprises.
Additional Information Additional Information captures exchanges’: sustainability section of websites,  sustainability products not captured under indices; information on future sustainability commitments and other information on the exchange
Organizational model of stock exchange Whether the exchange is listed or not, and when it was demutualized
Regulatory bodies The regulatory authority that sets listing requirements and capital market regulation for the exchange's market
Regulatory model

The extent to which exchanges have regulatory authority in their market. This may include:

  • Limited exchange SRO
  • Strong exchange SRO
  • Independent member SRO
  • Government (Statutory)
  • Non-SRO
About the stock exchange The location of the headquarters of the exchange, and any additional details about the stock exchange.