The Stock exchanges in the exercise of their operations face various risks in their management and mainly operational risk, risk that involves proper compliance and execution of management procedures, as well as adequate conduct and actions of staff, robust technological systems that allow the adequate registration and backup of information, transactions and security of customer information. Therefore, an attempt is made to present a series of operational risk events that may have important economic and subsistence effects for the entity. The maintenance of an adequate control in the transaction registry, the records of financial transactions that allow an adequate monitoring of the financial risk, in the liquidation processes and the adequate handling of the client's documentation, are of essential development for the adequate risk management operational in securities houses. In Panama there is no regulation for the management and management of operational risk, however the Superintendency of the Securities Market, through various regulatory agreements, provides mechanisms for the initiation and management of such an important risk in the business of managing client portfolios.