SAO PAULO Dec 11 A plan by Cetip SA Mercados
Organizados to establish a central counterparty for
over-the-counter derivatives in Brazil is key to preserving and
growing the company's dominance of the market, Chief Executive
Officer Gilson Finkelsztain said on Wednesday.
Cetip, Latin America's largest depositary and clearinghouse
for securities, is working on setting up the facility regardless
of a decision by regulators to centralize clearing and
settlement of derivatives deals outside a bourse in a so-called
CCP, Finkelsztain said at an investor event.
The plan "will allow the company to maintain its share or
grow it in this market, no matter what the regulatory decision
is on the CCP," he said, though he declined to provide guidance
on Cetip's performance.
Finkelsztain also said the company is analyzing new services
to improve banks' credit assessments for auto loans in Brazil.