The development of an organized capital market in Venezuela can be traced back to 1805 when Don Bruno Abasolo y Don Fernando Key Muñoz founded a trading house in the city of Santiago de León de Caracas. Back in 1807 the Venezuelan Government issued the first legal framework for traders and a National Trading Organization was founded. This regulation authorized six traders in Caracas and certain sanctions and injunctions were created in order to fulfill their obligations.

After a number of attempts in creating a formal market place, “La Bolsa de Portillo” was established in 1840. At that time, two trading sessions per day took place at the exchange where shares of various companies changed hands. These trading sessions used to take place as well under the shade of a tree known as the “Ceiba de San Francisco” in Caracas midtown, which happends to be the present emblem of the Caracas Stock Exchange. In 1873, the government of President Antonio Guzmán Blanco issued the Commercial Code which indeed included a section regarding commercial exchanges. In 1887, the first Exchange Bulletin began circulating in the market place offering shares prices of issuing companies. Finally, in 1917, the first Commercial Exchange Law was approved by the National Congress.

The first formal exchange was registered in Caracas on January 21, 1947 known as the “Bolsa de Comercio de Caracas”, composed by 22 seats. The first trading was celebrated on April 21, 1947 and included the inscription of 54 companies as well as part of the national debt. In 1958 a second exchange, the “Bolsa de Comercio del Estado Miranda” was founded to compete with the first exchange. However, in 1974 the two exchanges merged into one, thus marking the begining of the modern exchange.

The first Capital Market Law was launched in 1975 and the National Securities Commission (Comisión Nacional de Valores - CNV) was established to regulate the market. This institution reports directly to the Ministry of Finance and is responsible for the regulation of the Capital Market activity in Venezuela. Later on the Caracas Stock Exchange became the “Bolsa de Valores de Caracas, C.A.” consisting of 43 equal shareholders, which happends to be the only venezuelan exchange at the present time.

Early in 1989, the Caracas Stock Exchange showed important trading volumes following the liberalization of the economy. The growing economy led the exchange to implement new infrastucture concerning the exchange automation as a whole. The Automated Exchange Trading System (SATB) developed by the Vancouver Stock Exchange was acquired in order to fulfil the needs of the members for having a high-tech trading application. The SATB system started its activities in November of 1992, thus permitting a larger trading volume and a more efficient and transparent market place.

In 1994 the exchange implemented two new systems: the Remote Connection System (SISTECOR) and the Electronic Compensation and Liquidation System (SECOMLI).

The Venezuelan Depository Trust Company (Caja Venezolana de Valores -CVV) was established in 1995 to act as a national central depository of securities through electronic systems. The “Caja Venezolana de Valores” offers a wide variety of services such as custody and administration of securities; clearing and settlement of securities listed at the stock exchange and the over-the-counter market and settlement of funds.