Nicaragua Stock Exchange

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Nicaragua Stock Exchange (Bolsa de Valores de Nicaragua)
Founded 1994
Headquarters Managua, Nicaragua

The Nicaragua Stock Exchange (NSE) is know locally as the Bolsa de Valores de Nicaragua (BVDN) and was launched during free-market financial reforms in the early 1990s and, despite its name, mostly trades bonds of varying maturities, especially short-term and medium term. Like Nicaragua itself (population 5.6 million) the NSE is still relatively small and in 2009 the exchange reported total volume of around $550 million[1]


The NSE was launched on January 31, 1994 as a collaboration between Nicaragua's largest banks, coffee and sugar manufacturers, and the country's Ministry of Finance. Although the NSE allows listing and trading of companies, thus far mostly bonds issued by the country's main financial institutions have been traded on the exchange (although see Latest news below). Fixed-income maturities on the NSE range from seven days to 3+ years.[2]

The NSE currently faces no restrictions on foreign direct investment (FDI) and no taxes are levied on income or capital gains from traded securities on the NSE. The exchange also lists all its fixed income securities in U.S. dollars as well as Nicaraguan cordobas.

Key people[edit]

Raul Lacayo has been president of the Nicaragua Stock Exchange since 2006.

Latest news[edit]

In mid-August 2009, Canadian renewable-energy company Polaris Geothermal became the first foreign company to offer its shares for public trading in Nicaragua when the company listed its class A common shares on the Nicaragua Stock Exchange.[3] Polaris Geothermal is now an internationally joint-listed company with shares also listed on its home market, the Toronto Stock Exchange.