The products include the Bovespa Index and USD/BRL cross and enable investors to gain exposure and hedge risks in their portfolios.
With this launch, Saxo Bank provides investors with four futures investment instruments – the Bovespa Index, Ibovspa Index Mini, BMF US Dollar Future and Mini BMF US Dollar – available on all of the bank’s platforms (SaxoTrader, SaxoWebTrader and SaxoMobileTrader).
In addition, Saxo Bank expanded its coverage to more than 20 futures markets and over 80 trading venues which can be accessed via a product range comprising more than 22,000 financial instruments.
Saxo Bank director of the Latin region Pedro Brigham said that the rise in commodity prices has put Brazil on investors’ radars. Its excellent economic growth, political stability and a liquid market where over $3.5bn are traded on a daily basis have made the country the clear leader in Latin America at a time when investors increasingly demand greater access to emerging markets.
Saxo Bank executive vice president and head of markets Claus Nielsen said that the launch of futures trading in Brazil marks a significant milestone for Saxo Bank.
