The Ministry of Finance and the Bolsa Nacional de Valores (National Stock Exchange) consolidate the Market Maker Program, an initiative that seeks to modernize and strengthen the public debt market in Costa Rica.
The program began as a pilot plan in November 2024 and allowed the participation of five financial institutions: Banco BAC San José, Banco Davivienda, BCR Valores, BN Valores and Mutual Valores. According to the accumulated results between November 2024 and February 2026, the performance ranking is led by Banco BAC San José, followed by BN Valores and Mutual Valores.
The program is evaluated by means of a General Performance Index, which measures the participation of the entities in both the primary and secondary securities markets. This mechanism seeks to improve price formation, increase liquidity and strengthen the dynamics of the country's stock market.
The main benefits of the program include greater stability in securities trading, the development of the secondary market and the incorporation of financial tools that allow for more flexible and transparent operations.
For its second year of implementation, the program will expand its scope with the incorporation of Banco Popular y de Desarrollo Comunal and INS Valores, bringing the number of market makers to seven and strengthening the efficiency of the national financial system.
Financial sector authorities stated that this initiative contributes to consolidating a deeper, more competitive securities market that is aligned with international standards.
This is a news service prepared by ICS. For more information about the story, write to info@ics.cr or call 2519-9992 ICS, tax specialists.