Market infrastructure - Uruguay
Institutions and organisation
- Montevideo Stock Exchange (BVM)
Established in 1867, the Montevideo Stock exchange is a private entity that is owned by its 73 broker members. Trading of the listed securities (government debt, corporate debt, equities) is performed through open out-cry or PC electronic link.
- Bolsa Electronica de Valores (BEVSA - Electronic Stock Exchange)
Established in 1994, BEVSA is a private entity that is owned by 14 financial institutions. It trades corporate and government debt issued in dematerialised form, and foreign exchanges via PC electronic link.
Both entities are self-regulated organisations.
CSD and Clearing Agency
There is no Central Depository in Uruguay. Custodian banks safekeep securities in physical form in their vaults.
The Central Bank of Uruguay provides certain services, of a Central Depository, only for the dematerialised government debt.
Central Bank and payment systems - Central Bank of Uruguay
The Central Bank of Uruguay was created in 1967.
Its responsibilities are to:
- Issue money notes and coins, and manage payments throughout the republic;
- Manage monetary and credit policy;
- Act as economic advisor, banker and financial agent of the Government;
- Administer the international reserves of the State;
- Regulate and supervise all financial institutions.
The main regulators are:
- Central Bank of Uruguay
Established in 1967, it regulates the financial institutions, monitors the activity within the capital market and is responsible for the execution of monetary and credit policy in the country.
- The Tax Bureau (Dirección General Impositiva) is the tax authority in Uruguay.
The stock exchanges in Uruguay are self-regulated.