The Brazilian Stock Exchange, B3, has launched an index focused on financial letters issued by major banks, providing a benchmark for this asset class.
The Brazilian stock exchange, known as B3, unveiled its first index dedicated to the market for financial letters on Tuesday, October 10th. This new index, identified by the ticker ILFS1, aims to serve as a reference for evaluating and comparing the performance of this specific asset class which is comprised of fixed-income securities issued predominantly by banks. According to Hênio Scheidt, a product manager at B3, the index will act as a benchmark for an important category within the banking credit universe, offering market participants a metric to track the performance of DI (Interbank Deposit) securities coupled with the spread issued by leading banks in Brazil.
