Bolsa de Madrid 9 a.m. to 5:30 p.m.; open outcry from 10a.m. to 11:30 a.m., both Monday through Friday The "Bolsa de Madrid" was officially founded in 1831. In 1993, the Bolsa de Madrid switched to all-electronic trading for fixed-income securities. As required by Spanish law, it is managed and operated by the "Sociedad Rectora de la Bolsa de Valores de Madrid S.A.," a corporation organized under the laws of the Kingdom of Spain. The membership of the Madrid Stock Exchange consists of 41 major financial institutions and 12 established securities dealers. At December 31, 2001, approximately 1477 domestic and foreign companies had
Bolsa de Valores de la República Dominicana operative and belong to banking institutions. Almost 75 percent of the securities transactions are cross transactions in which both the buyer and the seller are clients of the same brokerage house. In recent years various laws were approved in an attempt to give new life to the Dominican securities market. In 2000, the Securities Market Law (SML), Law 19-00, was enacted, creating the Superintendence of Securities ("Superintendencia de Valores", SIV) as the regulatory agency of the securities market. There are 24 securities brokers and there are no registered securities agents. There is one commodities exchange in the country, the "Bolsa