The Brazil Securities Commission (CVM) issued a circular formalizing its decision to allow foreign intermediaries active on CME, CBOT, NYMEX and COMEX to offer Brazilian residents access to derivatives through introducing broker partnerships with institutions in Brazil’s securities distribution system. The arrangements must comply with existing conditions covering suitability, anti-money laundering controls, investor disclosures and oversight by the Brazilian intermediary. Domestic institutions must also prevent residents from accessing through a foreign intermediary any products, services or functions that Brazilian institutions could not offer, or could offer only under specific requirements or restrictions. The expansion does not revise the broader criteria for introducing broker arrangements, and future structures will continue to be assessed case by case.
2026-08-21Brazil Securities Commission (CVM)
Brazil Securities Commission permits introducing broker access to CME, CBOT, NYMEX and COMEX derivatives
The Brazil Securities Commission has permitted introducing broker partnerships to provide Brazilian residents with access to derivatives on CME, CBOT, NYMEX and COMEX. The arrangements remain subject to investor protection, anti-money laundering and local oversight requirements, while future structures will be assessed case by case.