BM&F BOVESPA Joins R3

One of the largest South American stock exchange operators BM&F Bovespa recently joined R3 distributed ledger consortium. In the announcement, they claim to be the first exchange to join R3. The decision becomes a part of company’s policy on innovations.

“We believe that strong collaboration with our customers, regulators and vendors is crucial to futureproof financial and capital markets. Innovation with appropriate regulatory oversight is paramount to making the Brazilian markets even more efficient and reliable. Shared ledger technology may play an important role here.”, said Fabio Dutra, Client and Business Development Managing Director at BM&FBOVESPA.

While it’s not completely clear what to expect from this action, Jochen Mielke de Lima, IT Managing Director at BM&FBOVESPA, stated that all changes would be focused on improving efficiency and the company looks forward to evaluating real cases by working with their customers.

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