The exchange in Caracas began operating with corporate bonds issued by the Venezuela-based subsidiary of Japanese carmaker Toyota and the local company Envases Venezolanos, Planning and Finance Minister Jorge Giordani said on state television as he visited the bourse for its official launch.

He did not provide details about the corporate bonds such as amounts or interest rates, nor how much activity there was on Monday.

The Bicentennial Public Securities Exchange will compete with the privately run Caracas Stock Exchange.

Trading in the private stock exchange has dwindled after President Hugo Chavez nationalized some companies that traded shares, and it has been nearly paralyzed since securities regulators shut down and took over management of 47 brokerage companies last year.