Borse Mercànte de Montecara

Borse Mercànte de Montecara
Piazza De Ferrari.jpg
TypeStock exchange
OwnerBMdM s.a.i.
Market capNSD 789 billion
VolumeNSD 1,148 billion

The Borse Mercànte de Montecara (Montecaran, Merchant Exchange of Montecara) is the stock exchange in the city-state of Montecara. It is the oldest stock exchange in the world, founded in 1563, and remains one of the largest by market capitalization and trading volume after the Jindao Stock Exchange and Weisstadt Stock Exchange.

The Borse operates Monday through Friday from 09:30 to 12:30 and 14:00 to 17:00, excluding holidays. It has a traditionally close relationship with the newspaper Il Finansiér, which was long the sole source of daily market numbers. The Borse's parent company, BMM s.a.i., has owned Il Finansiér since 1997. Trading was originally done by open outcry, but in 1999 the Borse adopted electronic trading to the exclusion of the traditional system.


The Borse directly grew out of informal trading groups that operated out of Montecara's cafes in the early and mid-16th century. Cafes frequented by merchants and those interested in investing in the sea trade began to collect useful information, including ship schedules, commodity prices, and lists of owners in then-novel joint-stock companies. This informal network grew along with the need to consolidate trade into a single market, and the Borse was thus created in 1563.

The concept of allowing anyone to buy and sell stock in a company was radical for the mid-16th century and remained virtually unheard-of in most of the world until the mid-19th century.

Prices were traditionally given in libra and onçiá, a non-decimal system with base 12. The Borse was decimalized in 1989.

Ownership and management

The Borse is owned by BMM s.a.i., a publicly traded company which is itself listed on the Borse. The State of Montecara owns 21.3% of the company's stock through Montepieta, its sovereign wealth fund.

Daily operations are managed by a board of 15 directors who are elected by the parent company's stockholders.


A variety of securities are available for trade on the Borse. In addition to stocks and bonds, the Borse includes futures and options markets for commodities and currencies, and a futures market for dividends.

Companies listed on the Borse
Company Symbol Industry
A. Zani & Fio AZF Alcohol
Aeracara AERA Aviation
Bànca Ultramarìn UL Commercial banking
BMM s.a.i. BMM Financial services and media
Cervelli CRV Luxury goods, tobacco
Crèdit Montecarà CM Commercial banking
De Craxi X Insurance
Farmalab FM Pharmaceuticals
Gironès GIR Specialty chemicals
ia Càra s.a.i. CARA Publishing
M&A MA Shipping
Nuvola NU Medical devices
Pelicàn PEL Shipping
Polar PO Oil and gas
SDB Montecara SDB Football
Sgarbata SG Clothing and accessories
Sicurasiò Xenèra SX Insurance
Tieri TI Food and beverage
Vapòri Nereà VN Shipping