As of October 26, 2009, the Derivatives Clearinghouse's new electronic collateral management system has been operational. The new version provides more agility in the management of collateral for transactions carried out at the Brazilian Exchange. Greater facility of monitoring margins calls for each client in real-time is among the system’s new features. This improves brokerage house monitoring, which creates a securer and faster post-trading environment for all market participants.
In the future, the system may be adapted to be used in a unified manner for the collateral management for all the products traded at BM&FBOVESPA. It may also be transformed into a collateral management service system, for example, in the case of OTC transactions in which the Exchange does not act as the central counterparty.
The system accepts the following assets as guarantees: Brazilian federal government bonds, shares of stocks, private securities, letters of credit, Real currency, FIC Bank BM&F, gold, US dollar currency, and Rural Product Note (CPR). Currently, BM&FBOVESPA has approximately BRL 60 billion deposited collateral at its Derivatives Clearinghouse.
