|Luís Otávio Saliba Furtado|
|Chief Technology and Information Security Officer|
|Last year: 36|
Brazil's national champion was created by consolidation: the 2008 merger of the São Paulo Stock Exchange (Bovespa) and the Brazilian Mercantile & Futures Exchange. Today, BM&FBovespa is the world's fifth-largest exchange operator in terms of market capitalization and nearing its long-term goal of unifying its disparate legacy operations with state-of-the-art technology. Last year saw the completion of the multi-asset-class Puma trading platform, the result of a partnership with Chicago's CME Group (see Kevin Kometer, No. 2), providing a 20-fold reduction in latency and a tenfold boost in capacity. "We believe we are well equipped to support the upcoming years of market growth in Brazil," says Luís Otávio Saliba Furtado, 47, a former IBM Corp. regional executive who has been BM&FBovespa's chief technology and information security officer since 2011. Still in progress is the consolidation of four clearinghouses for stocks, bonds, derivatives and foreign exchange into one, with the help of Sweden's Cinnober Financial Technology (see Veronica Augustsson, No. 38). This year the markets will be migrating to a new data center that will better support technology development and demand for high-performance services such as co-location, which Furtado notes is "a growing business." For the third quarter of 2013, the company reported year-over-year increases in high frequency trading volumes of 19.6 percent for BM&F and 32.8 percent for Bovespa.
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