IMPLEMENTATION OF A DERIVATIVES TRADING DESK FOR WHOLESALE CLIENTS AT CAIXA ECONÔMICA FEDERAL

• DOI: https://doi.org/10.22533/at.ed.9734112427085

• Palavras-chave: Agribusiness. Derivatives. Federal Savings Bank. Hedge.

• Keywords: Agribusiness. Derivatives. Federal Savings Bank. Hedge.

• Abstract:

  The agribusiness sector is known for having constant variations in product prices, due to various exogenous factors, such as production, weather forecasts, internal and external demand, and the price of inputs, and there is a need to protect against these variations. This makes risk management indispensable, a process through which decisions are made that involve accepting (or not) a known potential danger, or reducing it, using available instruments. Given the context presented of uncertainties and specificities involving agricultural activity and agribusiness as a whole, and the importance of the institutions responsible for operationalizing derivatives in Brazil, the aim of this work involves the implementation of a derivatives operations desk focused on wholesale clients at Caixa Econômica Federal. The research showed that the implementation of derivatives operations for wholesale clients at Caixa represents a significant step forward, in line with the practices of large global banks that already adopt hedge policy operations as an essential part of their financial results.