When an investor wishes to purchase or sell a security in the Exchange, he goes to his broker and the latter, in accordance with the request of his client, participates in a session or round of operations along with other brokers and executes the different operations.

To carry out securities operations in Venezuela, prior authorization is required to act as a broker. This is obtained by fulfilling diverse legal requirements and passing an examination administered by the National Securities Commission.

Brokers have an obligation to keep a the registry of the securities they negotiate or administer and periodically present it to the National Securities Commission, together with other information required of them in accordance with official norms.

The broker fulfills a fiduciary function, in that the relationship between him and the investor is based on confidence; and he is obliged to execute the instructions of his client in the best possible manner.

Once the purchase occurs, the broker receives the money from the investor and delivers the securities to him. At the same time, he takes responsibility for delivering the funds for the operation to the broker who represents the seller.

The selling investor receives this money and, at the same time, turns over the securities which he has sold.

Members of the Exchange can be individual brokers or various brokers in a company under one collective name.

When brokers are corporate persons or are under the figure of a brokerage company which, upon purchasing a share and being admitted as members of the Caracas Stock Exchange, they are properly considered "stock brokerage houses".

These companies are capitalized in a way to be more solid and offer the investing public a margin of greater security, count on qualified personnel, and handle financial technology on a continually higher level.