THE STOCK EXCHANGE OF DOMINICAN REPUBLIC

THE STOCK EXCHANGE OF DOMINICAN REPUBLIC

The Stock Exchange of Santo Domingo is a completely new identity in our country, constituting an activity that besides being new, lead to the creation of a new money market with a promising future.

The importance of establishing this market is that it contributes to national economic development, motorizing a move that would boost capital investment and would result in the transparency of operations, and also exert a competitive effect between banks by allowing bank financial intermediation and the creation of new companies in the future.

Although, it should be noted that the establishment of this market has found many disadvantages such as, half highly adverse macroeconomic environment and tax, financial mismanagement, business familiarity and other such annoyances there; precisely it needs addressing.

THE STOCK EXCHANGE OF SANTO DOMINGO

Origin of the Stock Exchange Santo Domingo

The Stock Exchange of Santo Domingo, is an idea that dates back to the early 1950s, but in 1884 our Commercial Code foresaw the emergence of this and it was not until 1953 that is approved and promulgated the Organic Law of the Stock Exchange in the country.

In 1982 the body was given to a management committee, but by 1987, the House conducted several studies-seminars and commissioned a feasibility study specialist Robert Bishop, ex - vice president of the stock exchange in New York and this was recommended establishment of a stock exchange in the Dominican Republic.

The Stock Exchange of Santo Domingo is a non-profit institution created by presidential decree no.544-88, dated November 25, 1988, under the auspices of the Chamber of Commerce and Production of the National District.

Formerly was the initiative of launching a body like this to regulate and maintain the functioning of the market. This began in 1956 with the creation of the National Stock Exchange and Technical supervised administratively by the Ministry of Finance, Law No.3553 known by May of that year.

This is a public institution that has never worked, although it is expected that in the future implement their operation.