Latin American derivatives exchanges reacted to the financial crisis by focusing on responding to local markets’ needs, the heads of the leading exchanges have said.
Speaking at the FOW Derivatives World Latin America conference on Tuesday (March 2), João Lauro Amaral, BM&F Bovespa’s international business development officer, said plummeting volumes during the crisis were only half the story.
There was also a settlement crisis, Amaral noted: “We had almost R$2bn [of positions] being liquidated in the first two days after...