World Stock Exchanges – MERVAL Buenos Aires Stock Exchange

World Stock Exchanges – MERVAL Buenos Aires Stock Exchange


The Buenos Aires Stock Exchange (BCBASpanishBolsa de Comercio de Buenos Aires) is the organization responsible for the operation of Argentina‘s primary stock exchange located at Buenos Aires CBD. Founded in 1854, is the successor of the Banco Mercantil, created in 1822 by Bernardino Rivadavia.

Citing BCBA’s self-definition: “It is a self-regulated non-profit civil association. At its Council sit representatives of all different sectors of Argentina’s economy.”

The most important index of the Stock market is the MERVAL (from MERcado de VALores, “stock market”), which includes the most important papers. Other indicators are BurcapBolsa General and M.AR., and currency indicators Indol and Wholesale Indol.



The Stock Exchange’s current, Leandro Alem Avenue headquarters was designed by Norwegian-Argentine architect Alejandro Christophersen in 1913, and completed in 1916. A modernist annex was designed by local architect Mario Roberto Álvarez in 1972, and inaugurated in 1977.


Official Website



The MERVAL Index (MERcado de VALores, literally Stock Exchange) is the most important index of the Buenos Aires Stock Exchange. It is aprice-weighted index, calculated as the market value of a portfolio of stocks selected based on their market share, number of transactions and quotation price. The base of MERVAL is set at 30 June 1986 = 0.01 Argentine pesos.

The corporations and weighted prices that compose MERVAL are updated every three months, based on their market share during the previous period.

As of August 2013 the companies in it are Aluar (alu smelter), BBVA Banco FrancésBanco MacroSociedad Comercial del Plata (holding),Edenor (electricity), Grupo Financeiro Galícia (financial), Pampa EnergíaPetrobras ArgentinaTernium(=Siderar)(steel), Telecom Argentina,Tenaris (steel pipes), YPF (oil and gas). [1]





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