Manoel Felix Cintra Neto
Discover the career of Manoel Felix Cintra Neto, who served as president of BM&F (Bolsa de Mercadorias e Futuros) for 11 years. His leadership and strategic vision redefined the sector.
School souvenir from the Mackenzie Institute. by UnknownMUB3 - Museu da bolsa do Brasil
Manoel Felix was born in the city of Presidente Prudente, on September 29, 1948, son of Manoel Felix Cintra Filho and Maria de Lourdes Freitas Cintra.
Degree in Economics from Mackenzie University. by UnknownMUB3 - Museu da bolsa do Brasil
Manoel's career in the capital markets is marked by more than five decades of dedication. His journey began in the 1970s, during his undergraduate degree in Economics at Universidade Presbiteriana Mackenzie, when he became a trainee at Banco Bozano Simonsen.
His enthusiasm and talent took him to a new level when he became superintendent of Banco Multiplic in the 1980s, and years later, CEO of the institution. During a decade at the head of the bank, Manoel consolidated his experience and strengthened his leadership in the sector.
In 1996, Manoel took a decisive step by acquiring Multiplic Corretora de Valores Mobiliários, a segment of Banco Multiplic, which was sold to Lloyds Bank the following year. In this context, he was invited to join the Board of BM&F, where he excelled and was elected vice-president.
Cintra Neto's career reached an important milestone in 1997, when he took over as president of BM&F, a position he held until 2008. Over the course of these 11 years, he implemented several modernization initiatives and achieved significant results.
What was BM&F?
Founded in 1986, the Bolsa Mercantil e de Futuros (BM&F) was created by the Bovespa board of directors with the aim of trading derivative contracts, such as futures on commodities, currencies, gold, etc. This innovation allowed investors to trade products at pre-defined prices for future dates.
In 1991, BM&F underwent a significant transformation when it integrated the operations of the Bolda de Mercadorias de São Paulo, while maintaining the acronym BM&F. With this merger, the exchange consolidated itself as the largest in Brazil specializing in commodity contracts. Thus, BM&F became an indispensable reference in the Brazilian financial market, reflecting the evolution and diversification of operations in the sector.
BM&F in China. (2004-05-27/2004-05-27) by UnknownMUB3 - Museu da bolsa do Brasil
Consolidation and Internationalization Process (1997)
Under the leadership of Manoel Felix, the institution's consolidation on the national scene was strengthened through the operational merger with the Brazilian Futures Exchange (BBF) and, on the international level, with the continuity of BM&F's projects aimed at attracting foreign investors.
This movement occurred in a context of increasing global interconnection. From the 1980s onwards, the term "globalization" began to be widely used, referring to the processes of connection between countries, cultures and economies, driven by technology and the opening of markets. In 2000, the International Monetary Fund (IMF) highlighted four main aspects of this phenomenon: trade and financial transactions, capital movements and investment, migration of people and the exchange of knowledge. These factors reveal how countries come together to strengthen transnational capital.
International Recognition (2000)
BM&F sought to form alliances with other commodity exchanges around the world. On January 31, upon its 14th anniversary, it joined the Globex alliance, which included renowned exchanges such as Chicago, Paris, Singapore, Madrid and Montreal, creating a more integrated trading environment.
Portrait of Manoel Felix Cintra Neto. (2007-04-13/2007-04-13) by LuludiMUB3 - Museu da bolsa do Brasil
New layout (2000)
Inaugurated on January 31, the renovation of the headquarters was an innovative project that used advanced technologies to ensure comfort and preserve historical features. The new arrangement of operators in pits improved visibility and communication, aligning with the model of international exchanges.
Global Trading System – GTS (2000)
In September, the GTS operation was launched in the Brazilian derivatives market, providing valuable learning for BM&F and its clients about new trading dynamics. The electronic trading session reached 7% of transactions outside of open outcry trading hours, indicating an increase in trading volume.
BM&F trading session (2001) by BM&FMUB3 - Museu da bolsa do Brasil
1 Billion contracts traded in 15 years (2001)
At the end of October, the exchange reached a historic milestone: one billion contracts have been traded since its inception in 1986. This feat coincides with the new phase of BM&F, which has become a strong business center.
Espaço Cultural BM&F. (2007-10-02/2007-10-02) by UnknownMUB3 - Museu da bolsa do Brasil
Inauguration of the Espaço Cultural (2002)
The opening of the Espaço Cultural reaffirmed BM&F's dedication to promoting culture and education, reflecting its commitment to society. We can mention exhibitions by Anita Malfatti, Heitor dos Prazeres, Santos Dumont, Tarsila do Amaral, among others.
BM&F Clearing. (2003-05-28/2003-05-28) by UnknownMUB3 - Museu da bolsa do Brasil
Clearings (2002 – 2004)
The creation of the Exchange Clearinghouses (2002) and Assets Clearinghouses (2004), together with the Derivatives Clearinghouse, strengthened the image of BM&F, forming a safety net with modern risk control instruments and consolidating the stock exchange as the main clearinghouse system in Latin America.
The process of demutualization of stock exchanges began to gain momentum in the 1990s. Some of the exchanges that underwent this transformation include the Stockholm Stock Exchange, 1993; Amsterdam Exchanges, 1997; New York Mercantile Exchange, 2000; Nasdaq, 2001. This change became inevitable as institutions adapted to the new realities of the global market and technological innovations.
Demutualization brought a new dynamic to the capital market, making it open to all, and redefined the way financial transactions are conducted, creating a stimulating and transparent environment.
BM&F IPO. (2007-11-30/2007-11-30) by UnknownMUB3 - Museu da bolsa do Brasil
BM&F IPO (2007)
On November 30, BM&F S.A. shares began trading. In a memorable event, a red carpet was rolled out from the BM&F buildings on Praça Antônio Prato to Bovespa on Rua XV de Novembro. The BM&F IPO attracted a record 250,000 investors.
BM&F Bovespa announces merger. (2008-03-26/2008-03-26) by Luiz PradoMUB3 - Museu da bolsa do Brasil
Merger with Bovespa (2008)
The merger between BM&F and Bovespa gave rise to the third largest stock exchange in the world, a milestone in the capital markets. The good relationship between the management of both, combined with a long-term strategic vision, made this union possible, creating a robust and dynamic financial environment.
Balancing leadership
During his presidency at BM&F, Cintra Neto maintained his personal responsibilities. In 2000, he took over as president of the investment bank MultiStock, after the merger of his brokerage firm, Multiplic, with the bank Stock Máxima, and led the project for the financial company Valeu.
In 2003, he began a new phase in his career. Manoel became a shareholder and executive president of Banco Indusval Multistock, marking the beginning of a new professional chapter.
Other contributions to the market
Cintra Neto also performed activities that reaffirmed his commitment to the financial market, such as: Executive Director of Febraban, between 1989 and 1995; President of ANBID, between 1990 and 1992, of ANCORD, between 2009 and 2013 and of ABBC, between 2013 and 2017.
Legacy and Recognition
In 2007, Manoel received the “Personality of the Year” award from the Brazilian American Chamber of Commerce in New York for his work at the helm of BM&F. The ceremony, attended by leaders such as Alberto Goldman and Fernando Henrique Cardoso, highlighted the importance of relations between Brazil and the United States.
Want to learn more about the personalities who shaped the Brazilian capital market? New exhibitions coming soon to Google Arts & Culture.
B3 EDUCATION AND CULTURE
Presidency
Gilson Finkelsztain
Technical and Accounting Directorate
André Veiga Milanez
Financial Directorate
Tatiana Coimbra Castello Branco
MUB3 - BRAZILIAN STOCK EXCHANGE MUSEUM
General Coordination
Lourdes Silva
Technical Supervision
Juliana Pons
Reference Center
Juliana Carminhola
Lídia Ananda Camargo
Communication
Anna Carolina de Oliveira Leite
Jaqueline Caires Lima
Collaboration
Manoel Felix Cintra Neto
Sonia Maria Paulino Mendes
Acknowledgements
Pollyana Marin
MUB3 declares that it has made every effort to identify and credit the copyright holders of the published photographic images, as well as those who were photographed. If anyone recognizes their rights to any of these images and that they have not been correctly identified, please contact us at pesquisa@mub3.org.br so that we can correct and publish the authorship. MUB3 appreciates pointing out omissions and inaccuracies and is available to rectify them.
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