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"Our model is more like Deutsche Börse or Hong Kong’s Hang Seng where all the services are offered. We know we need to start being more efficient and make costs go down"
Carlos Kawall, BM&F Bovespa |
For the first time in many years Brazil’s stock and derivatives exchange, the BM&F Bovespa, is facing growing competition for equities and fixed income business.
"The BM&F Bovespa is in a very solid position," says Evandro Pereira, head of global capital markets at UBS Pactual. "However, there will be competitive threats for the exchange, coming from international players developing new products and foreign exchanges trading American Depositary Receipts, as well as from the Cetip, which now has professional management in place that have ambitious plans for the year ahead. The central bank is keen to promote some level of competition."
In recent years the BM&F Bovespa...
