Brazil gets its first lending association 28 August 2013New York Reporter: Georgina Lavers
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A Brazilian securities lending association has been launched in order to enhance the image and understanding of the market for new participants.
Greg Wagner, who is currently head of prime services at Itaú Unibanco, set up the association. In an email, he said that aims of its creation were: to foster increased international awareness of Brazil securities lending; to create a centralised forum where international participants and local exchanges and participants can exchange ideas; to address in an informed manner, some of the common challenges facing international participants; and to create constructive dialogue with local and international regulators, as appropriate.
“We noticed a need for leadership and a centralised communication hub to link the international community with local participants and the exchange in Brazil,” Wagner said.
“There are several queries that are regularly being brought up on a bilateral basis. Given this—and since the Brazil lending market is bigger than Canada and Australia—we felt it was time to sponsor a credible organisation to help educate and effect change in an organised manner.”
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