Even before we officially launched, we had already transformed the Brazilian capital markets.
About BASE
At the time, there was no regulation in Brazil that allowed for competition between stock exchanges. We encountered denials of access to essential services and a fee structure that stifled anyone attempting to compete. We brought all of this to CADE. The result did not just benefit us: these barriers were dismantled for the entire market, and new regulations were introduced, allowing for competition between exchanges in Brazil for the first time.
Our origin is Flowa, a company within our group, which since 2010 has developed the technology used by brokers and asset managers to operate in Brazil. There is no real competition between exchanges without technology across the entire execution chain. It is what enables the intelligent routing of orders between exchanges and the consolidation of market data. Through Flowa, we helped drive this transformation: in 2010, less of 7% of investor orders were executed via electronic platforms; by 2026, that number already exceeded 60%.
We believe that exchanges exist to drive the growth of companies, investors, and intermediaries.
The market is shaped by companies seeking financing, investors allocating capital, and intermediaries who make this bridge possible. The exchange provides the infrastructure for this meeting to take place under equal rules for all, with fair and predictable fees, stable technology, and high-quality service.
We are true to the thesis that, without mastering technology, it is impossible to control the quality of the service delivered to the end client. Therefore, our trading and post-trading systems are developed by our own team, and when something needs improvement, the solution is in our hands.
The rules of Base were written and many of our decisions were made after listening to our clients' feedback. The quality of our work is measured by the growth of those who trade with us. That is where our signature comes from: your goals, our priorities.
It is this history that we carry forward to build Base Exchange.
Our team
Watch the Base Manifesto
