Gilson Finkelsztain

Gilson Finkelsztain is the CEO of B3 S.A. — Brasil, Bolsa, Balcão, the only securities exchange, clearinghouse, and central depository operating in Brazil, making it one of the most powerful monopoly positions in global financial infrastructure. B3 resulted from the 2017 merger of BM&FBovespa and Cetip, creating a vertically integrated financial infrastructure company that handles virtually all equity, fixed income, derivatives, and commodity trading in Latin America's largest economy. B3's monopoly position gives it extraordinary pricing power and margin characteristics — operating margins consistently exceed 70%. The exchange benefits from every financial transaction in Brazil: equity trades, derivatives contracts, OTC registration, depository services, and data licensing. Revenue growth is driven by Brazilian equity market participation (which has increased dramatically as interest rates declined and retail investor adoption grew), derivatives trading volumes, and new product launches. Finkelsztain's key decisions involve managing pricing in a monopoly environment (balancing revenue growth with market development), technology platform investment, new product development, international partnerships, and navigating the regulatory environment.