INTL FCStone Inc.’s (NASDAQ: INTL) subsidiary, INTL FCStone DTVM, has now become a fully operational broker-dealer in Brazil. The group’s new license helps INTL FCStone DTVM tap into one of the largest markets in Latin America (LATAM), while looking to continually grow out its trading operations in the region.
INTL FCStone DTVM is no stranger to Brazil, having operated there for over fifteen years. This has seen the group build out no less than eight offices in the country and a robust institutional client base. Historically, the company has served institutional clients with access to global markets via its US equities and options desk run by parent group INTL FCStone Inc.
However, with DTVM obtaining a broker-dealer license, the unit will now be able to effectively expand its operations within the Brazilian market through local personnel. This includes hiring and bringing in local experts that are more proficient in the Brazilian marketplace.
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Claudio Pacini, Head of Brazil Agency Equities, INTL FCStone, commented: “We are proud to have received a broker-dealer license in Brazil and are excited to now provide our clients there with enhanced trading services. We are building upon our already successful Brazilian business, and continue to push for greater market access for customers in Brazil, Latin America, and beyond.”
“Brazil is one of the largest growth markets in LATAM – obtaining a broker-dealer license was instrumental for DVTM’s operations and prospects long term, which now stands to expand within Brazil. Moreover, its license will support customers outside of Brazil as well with greater access to the domestic market,” he added.
The group’s Brazil team now stands at a key juncture in the region, and can work with institutional clients and facilitate trades and source trades with the Americas, Europe, Middle East, and Africa (EMEA), and the Asia-Pacific (APAC) region.
“Given the consolidation occurring across the Brazilian financial services industry, this is an especially critical time to further our commitment to that market. Our local strategy presents a significant business opportunity for INTL FCStone, while simultaneously presenting substantial benefits for the Brazilian market given that we can now provide solutions for many participants who are currently underserved by local broker-dealers,” noted Alexandre Artmann, Head of Agency Equities at INTL FCStone Financial Inc.