by Leticia Lozano
Trade in Latin America in options, futures and swaps was almost unheard of a decade ago. Today, though, driven by growing investor confidence and a strong economic performance across the continent, the region’s derivatives markets are developing as never before, led by Brazil and Mexico, as investors look to transfer risk and hedge their exposure to volatility.
Although stable Chile has long had a local currency-denominated, fixed rate yield curve, companies such as Mexican cement producer Cemex and Brazil’s Votorantim Metals are also using derivatives to mitigate risks and lower borrowing costs.
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