In the international arena, the Association
released a website aimed at foreign investors.
The website provides information and statistics,
such as, for example, international versions
of the Capital Markets and Investment Funds
newsletters. In addition, foreign investors can
find operational procedures for applying their
resources in Brazil, on the website’s Non-
Resident Investor Guide.
As envisaged in the ANBIMA action plan, the
construction of statistics for real estate funds
and investment products distributed in retail
also advanced. The first already has FII (Real
Estate Investment Funds) and CRI (Real Estate
Receivable Certificates) models designed.
The proposal for the retail database awaited
evaluation by the Board of Directors and should
be implemented in the second semester of 2012.
Indexes, tools and pricing
The year 2011 also marked the beginning of
the Information and Pricing Project. Built in
partnership with the consulting firm PwC, the
project will seek to unify in one channel all the
information and statistics that ANBIMA provides
and intends to establish a pricing model for
illiquid assets in the Brazilian market. The main
objective is to offer more up-to-date information
on market data, as a way to contribute to the
development of the secondary market.
One of the initiatives that the project foresees
is the implementation of pre-registration for
the purchase and sale of debentures in the
OTC market. The REUNE ANBIMA System is a
tool that will make simplified registration of
these operations mandatory, before settlement
is made, and will provide pricing information
and quantities traded throughout the day. The
System should begin operating in the second
semester of 2012.
Parallel to the project development, the
initiatives in the area of Prices and Indexes also
progressed in 2011, with the release of the IDA
(
ANBIMA’s Debentures Index) and the expanded
scope of assets being priced.
The first index, the IDA, intended for the private
debt segment of the Brazilian market, was released
in June. The index reflects the daily performance
of the debentures in the secondary market, with
data backdated to the beginning of 2009, offering
aggregated information by type of index.
Also released during the year was the record
of government bond operations in the OTC
market. With the disclosure of OTC market
business, available in real time through the
Bond Market Reporting System, ANBIMA now
provides information on all sources of business
conducted with government bonds.
The Asset Pricing Committee finalized the
project of disclosing the yield curve by credit
level (rating). The curves will portray the ratings
AAA, AA and A and will be available on the
ANBIMA website in 2012.
ANBIMA recognizes the important role that
transparency and access to up-to-date and reliable
information have for well-functioning markets and
contribute to the construction of databases and
supporting tools
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Annual Report
ANBIMA
2011
