From physics to the financial market: the entrepreneur who wants to be the main competitor of B3 in Brazil

Founder of CSD BR, Edivar Queiroz Filho created the company trying to transform it into a direct competitor of the Brazilian Stock Exchange to avoid a possible ‘monopoly’ in the country

the report of Edivar Queiroz Filho with the numbers starting long before it established itself as a financial market broker. While studying Physics at USP, in São Carlos, in 1995, he was introduced, by his brother-in-law, to the world of Faria Lima (the main financial center of the country). On a holiday trip to the capital that same year, he receives an invitation from a family member to abandon academic life and concentrate on the “study of the subject”, to devote himself to financial calculations.

“When I arrived in São Paulo, I didn’t even know how to do these calculations, they gave me a book to learn everything by myself,” he said.

A short time later, already a graduate, Queiroz Filho began his foray into the universe of finance by enrolling in a master’s degree in the area. There begins his story at the Faria Lima, which, added to his curiosity, will lead him, years later, to want to “face” one of the main financial institutions in the country, B3, the Brazilian stock exchange.

In 1999, the executive created his first company, Luz Soluções Financeiras, specializing in the development of risk solutions for the Brazilian capital market. Nearly 20 years later, he started CSD BR, a registry of financial assets, derivatives, securities and insurance policies, services currently dominated by B3. In the segment in which it competes directly with B3, in the volume of registered assets, the company had a leap of 1,300% compared to 2021, reaching the threshold of 210 million reais.

Diversify the market

According to the entrepreneur, one of the reasons for the creation of the CSD was the merger of BM&F Bovespa with the Cetip register in 2017, which created a sort of “monopoly” in the market. “Avoiding a monopoly in the financial world makes our capital markets much more efficient.”

CSD’s performance has begun to attract attention from large market participants, such as the Chicago Board Options Exchange (CBOE), which bought a stake in the business, the value of which has not been disclosed, as well as names such as BTG and Santander, today minority shareholders in CDS. In 2021, in the latest funding round, the Wealth Registry raised BRL 200 million of capital to expand the business.

In order to continue growing, in the coming months, CSD is waiting to obtain new authorizations from the Securities Commission (CVM) and from the Brazilian central bank for clearing and warehousing operations. “I’m not a buyer, I’m a builder of things. That’s what I believe.”

B3 informs in a note that “the growth of the Brazilian capital market is positive for all participants”. “We believe that our differential will always be to offer the best service and the best solution,” he said in a statement.

Source: Terra

Rose

Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.