Bolsa de Valores de Nicaragua and issuers of securities. The specific regulatory frame of exchange activity is conformed by Presidential Decree 33-93 or "Reglamento General sobre Bolsas de Valores" (General Stock Market Regulations). The president of the exchange as of 2006 is Dr. Raúl A. Lacayo Solórzano. Bolsa de Valores de Nicaragua Bolsa de Valores de Nicaragua (Stock Exchange of Nicaragua, or BVDN) was created in 1994 and is the only stock exchange operating in Nicaragua. The exchange is the result of private sector initiatives encouraging the country's market liberalization programmes, which began in 1990. Trading operations officially began on January 31, 1994, and as
Rancho Bolsa de Tomales the production of a fraudulent and false certificate of approval signed by the governor and secretary who signed the grant and proved by the same witnesses in the same way that the grant was proved, affords (in the absence of explanatory evidence,) strong ground for believing all the title papers to be fabricated", and the claim was rejected. Rancho Bolsa de Tomales Rancho Bolsa de Tomales was a Mexican land grant in present day Marin County and Sonoma County, California given in 1846 by Governor Pío Pico to Juan Nepomuceno Padilla. The name means "the Pool of the Tomales Indians,"