The Long & Short of It - Exploring Brazil’s Evolving Derivatives Market

Our latest episode of The Long and Short of It Natalie Reed sits down with Rafael Camargo, Partner and Head Trader at Dahlia Capital, and Diego Maida, Head of Derivatives at Bradesco BBI, for an insightful discussion on the evolution of Brazil’s capital markets and the growing role of derivatives in portfolio management. The conversation explores how investors are navigating Brazil’s unique macroeconomic environment, including high interest rates, market volatility, and the opportunities created by Brazil’s position as one of the most liquid and investable emerging markets. They take a closer look at how both local institutional and retail investors use listed derivatives, the differences between onshore and offshore investing, and why many Brazilian investors are increasingly incorporating U.S.-listed products into their strategies. Rafael and Diego share perspectives on diversification, risk management, changing volatility regimes, and the factors that could drive additional capital flows into global markets. Whether you follow emerging markets, derivatives, or global asset allocation trends, this episode offers valuable firsthand insights from two leading market practitioners.