BM&F - The History of the Futures Market in Brazil

Introduction

The book "BM&F - The History of the Futures Market in Brazil" by Alcides Ferreira and Nilton Horita is a comprehensive and engaging account of the development of the futures market in Brazil. The book provides a detailed history of the BM&F, the Brazilian Mercantile and Futures Exchange, from its inception in the early 1970s to its current status as one of the largest and most important futures exchanges in the world.

The Early Years

The book begins by describing the early history of the futures market in Brazil, dating back to the 19th century when coffee futures were traded on the Rio de Janeiro Stock Exchange. However, it was not until the 1970s that the futures market in Brazil began to take off, with the establishment of the BM&F in 1972.

The Growth of the BM&F

The BM&F quickly grew in size and importance, and by the early 1980s, it had become the largest futures exchange in Latin America. The exchange's growth was driven by a number of factors, including the increasing sophistication of the Brazilian financial markets, the growing demand for hedging instruments, and the government's support for the development of the futures market.

The BM&F Today

Today, the BM&F is one of the largest and most important futures exchanges in the world. The exchange offers a wide range of futures contracts, including contracts on commodities, currencies, and stock indices. The BM&F is also a major player in the global derivatives market, and it is a member of the Futures Industry Association (FIA).

The Future of the BM&F

The future of the BM&F looks bright. The exchange is well-positioned to continue to grow and prosper in the years to come. The Brazilian economy is growing rapidly, and the demand for hedging instruments is increasing. The BM&F is also well-positioned to take advantage of the growing global demand for derivatives.

Conclusion

"BM&F - The History of the Futures Market in Brazil" is a must-read for anyone interested in the history of the futures market in Brazil. The book provides a detailed and engaging account of the development of the BM&F, from its inception in the early 1970s to its current status as one of the largest and most important futures exchanges in the world. The book is also a valuable resource for anyone interested in the global derivatives market.