Barclays Capital has received all relevant approvals to commence equities trading on Brazil’s stock exchange Bm&Fbovespa through its local broker dealer, Barclays Corretora de Titulos e Valores Mobiliarios, which has become a full member of Bm&Fbovespa.
Through local subsidiaries, Barclays Capital is now a full member of the two major stock exchanges in Latin America, having commenced trading on the Mexico stock market in December 2009. The firm has also recently expanded its equities business in Europe and Asia.
In March 2009, Barclays Capital appointed Roberto Attuch as head of Latin American equity research. In June 2009, the firm made several appointments to the Latin American equity research team and also appointed Ricardo Lanfranchi as head of equities for Brazil. The firm’s equity research team currently covers approximately 80 companies in Latin America and will expand that coverage over the coming year.
Mr Lanfranchi said: “We can now offer our clients a full range of equities trading capabilities on the local exchange. Membership of the Bm&Fbovespa is a significant milestone in the expansion of our equities business in Latin America and throughout the world.”
Stanley Rowe, head of equities for Latin America at Barclays Capital, said: “Our focus is on delivering a full spectrum of equities capabilities. This license will enable us to offer more services to our issuing and investing clients, both global and local, as we strive to deliver the best differentiated capabilities in content, capital and solutions.”