BM&FBOVESPA
“Can Brazil's dominant exchange leverage its clearing and data infrastructure to become the country's core capital-markets platform beyond trading?”
Founded2008
HQSão Paulo, Brazil
IndustryInfrastructure / Capital Markets Exchange
The story
Formed in 2008 from the merger of São Paulo Stock Exchange (Bovespa) and Brazilian Mercantile and Futures Exchange (BM&F), then merged with CETIP in 2017 to become B3 S.A. — Brasil, Bolsa, Balcão. B3 operates trading, clearing, and post-trade services across equities, derivatives, FX, and OTC markets, plus a technology and platforms segment (Trillia data analytics, capital markets solutions). It also operates Banco B3 S.A., a regulated bank subsidiary for settlement and custody services.
Last 12 months
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Product timeline
2008
Bovespa and BM&F merged to form BM&FBOVESPA· acquisition
2017
BM&FBOVESPA merged with CETIP to create B3· acquisition
2021
Ibovespa index reached record close above 130,776 points· milestone
Acquisitions
Regulated entities
2
regulatory licences held by BM&FBOVESPA
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in BM&FBOVESPA’s embedded-finance stack
Banking / BaaS
Accounting gap: none