Named A5X, the company will initially operate in the derivatives market and the business begins with an investment of around R$200 million.

Executives and former executives from the financial market have joined forces to launch a new product: a derivatives exchange. Called A5X, the business has an initial investment of R$200 million. The new exchange will compete in one of the most important business segments of B3, which has market dominance.

At the forefront of the project are Carlos Ferreira Filho and Karel Luketic (former executives and partners at XP), Nilson Monteiro (CEO and founder of the brokerage firm Ideal, currently controlled by Itaú) and Julian Chediak (partner at the firm Chediak Advogados). This is the quartet of founders on the new exchange. The plans were verified by Valor and confirmed by the partners.

Read the full report on the Valor Econômico website.