When private Banks in Uruguay thought about creating an electronic stock Exchange, it seemed impossible. Our Firm made it happen, designing the structure and regulation to make it work.

When the process to organize an electronic stock exchange started, there were no structured rules to regulate the activity of the new entity.

In this context, our Firm assisted in thepreparation of a set of internal rules of BEVSA, including the operational manuals and rules (in a market which was absolutely selfregulated at that time), and the negotiation of the technology agreements. Dr. Ricardo Olivera García was appointed President of the BEVSA during the founding period and implementation.

Today, the reality of the local capital markethas changed towards a regime of control centralized in the Central Bank of Uruguay. In this new context, our Firm continues to assist and counsel BEVSA on a regular basis to comply with the regulation and to adjust its procedures and transactions to the current standards required for this activity.