National Stock Exchange Celebrates 30 Years

August 11, 2006

The National Stock Exchange celebrated its 30th anniversary with a ceremony Monday at the Marriott Hotel in San Antonio de Belén, northwest of San José, according to National Stock Exchange spokeswoman Silvia Zúñiga.

Minister of the Presidency Rodrigo Arias, who previously acted as president of the stock exchange, opened the ceremony, Zúñiga said.

Arias praised the stock exchange’s founders, calling them “pioneers and visionaries,” according to a statement from Casa Presidencial.

“When people first began to talk about creating a capital market in Costa Rica and a National Stock Exchange as a strategic instrument of this market, conditions in the country were very different than they are today,” said Arias, who is also President Oscar Arias’ brother.

Since then, the stock exchange has grown and faces the challenge of achieving new levels of success by becoming more competitive in the global economy, Arias said.

National Stock Exchange president Orlando Soto also attended the ceremony, and Jeffrey Singer, vice-president of the U.S. National Association of Securities Dealers Automated Quotation (NASDAQ), traveled to Costa Rica for the occasion and gave a presentation on the evolution of capital markets.

 

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