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 las Escorpinas the inland side of Elkhorn Slough. Salvador Maria Espinoza (1796–) married Maria Josefa Lugarda Castro (1796–1848) in 1814. Espinosa served in a number of public offices in Monterey including alcade and regidor. He was mayordomo (administrator) at Mission Soledad in 1836-1839. He received the two square league Rancho Bolsa de las Escorpinas in 1837. Salvador's brother, José Trinidad Espinoza, was grantee of neighboring Rancho Los Gatos or Santa Rita. Salvador's son, Jose Carlos Cayetano Espinosa, was the grantee of Rancho Posa de los Ositos. With the cession of California to the United States following the Mexican-American War, the 1848 Treaty