Competition in Brazil's exchange sector up to markets-regulator

SAO PAULO Fri Dec 7, 2012 8:58am EST

SAO PAULO Dec 7 (Reuters) - Markets should decide whether there should competition in Brazil's exchange industry, the head of the nation's securities and exchange regulator said on Friday.

The solution for competition in the so-called market structure industry should come from investors themselves, said Leonardo Pereira, the president of watchdog CVM. Currently, Brazil has only one financial exchange operator, BM&FBovespa SA , which offers trading, clearing, custody and settlement facilities to investors.