Record trading at BM&F – again
BM&F Bovespa has announced record trading volumes for a second day running, again led by its One Day Interbank Deposit Futures. More than 6m of the interest rate contracts changed hands yesterday (March 18) – constituting what would have been a record day’s trading on the bourse in their own right. In the whole of February, 14.9m interest rate contracts were traded.
Speculation is rife in the Brazilian market that the country’s central bank will seek to raise rates significantly in coming months from their present historic low of 8.75%. Marcelo Lara, of Santander’s interest rate derivatives team in Brazil, told FOi recently that the bank expects rates to rise to 12% by the end of the year.
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