ANBIMA

What ANBIMA does

ANBIMA (Associação Brasileira das Entidades dos Mercados Financeiro e de Capitais) is Brazil's primary self-regulatory organization for the financial and capital markets, operating as a private non-profit civil association headquartered in São Paulo. Founded in 2009 in its current form, it represents more than 300 member institutions — including banks, asset managers, brokers, securities dealers, fiduciary administrators, and over 1,000 asset managers — and is connected to more than 1,500 institutions across Brazil's financial ecosystem. The association operates under formal delegation agreements with the CVM (Brazil's SEC) and is a member of major international bodies including IOSCO, IIFA, ICMA, ISDA, and UNCTAD.

The organization's core products and services span four functions: (1) Self-Regulation Services, including codes of best practice, supervisory activities, and a Transparency Platform for fund fee disclosure mandated by the CVM; (2) Education and Certification programs, covering CPA, CFP, CNPI, PQO, CEA, and Ancord certifications with international equivalencies (CFA Institute, CAIA, and forthcoming EFPA Spain recognition from 2026); (3) Data and Analytics, anchored by the Brazilian Market Dashboard and the largest database on Brazilian capital markets; and (4) Strategic Intelligence and Innovation, including the Futures Radar tool (mapping 50 financial-sector innovations), the X-ray of the Brazilian Investor survey, the Finfluence report on financial influencers, and the Anby AI assistant for self-regulation queries launched in June 2026. ANBIMA also leads Brazil's first DLT network pilot for tokenized assets (launched October 2025).

ANBIMA's business model is membership-funded: recurring subscription-style fees from financial institutions are the primary revenue stream, supplemented by certification and education revenue, event income (notably the ANBIMA Summit with 3,000+ participants), and data/research products. As a non-profit, the association reinvests any fines from self-regulatory enforcement into educational initiatives. The go-to-market is sales-led and relationship-driven, with direct engagement of enterprise financial institution members plus international representation across 13+ global bodies. The organization employs 251-500 people and is governed by a board under Chairman Roberto Paris for the 2026-2028 term, with CEO José Carlos Doherty.

Name

ANBIMA

Legal name

ANBIMA - Associação Brasileira das Entidades dos Mercados Financeiro e de Capitais

Website

https://anbima.com.br

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

251–500 employees

Short description

ANBIMA is Brazil's primary self-regulatory organization for the financial and capital markets, representing more than 300 member institutions — including banks, asset managers, brokers, and fiduciary administrators — connected to 1,500+ institutions across the Brazilian financial ecosystem.

Ownership category

akta.pro rank

Product category

Capital Markets Self-Regulation

NAICS

Finance and Insurance (52)

SIC

Finance Services (6199)

akta.pro primary industry

Analytics, Risk Models & Factor/Style Indices (FSAFAIAG)

akta.pro secondary industries

Risk Management, Controls, Governance & Policy (Crypto) (FSADALAJ), Risk, Compliance & Controls for Embedded Finance (KYB/KYC/AML, Fraud, Disputes) (FSAGALAK)

Keywords

• Capital markets association
• Self-regulatory organization
• Investment fund regulation
• Professional certification programs
• Market data analytics

Headquarters

HQ city

São Paulo

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Membership Fees: ANBIMA generates revenue primarily through membership fees from financial institutions including banks, asset managers, brokers, and other capital markets participants. The association connects to more than 1,500 institutions and represents over 300 member institutions.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

ANBIMA is the Brazilian Financial and Capital Markets Association, a non-profit self-regulatory organization that represents more than 300 member institutions (banks, asset managers, brokers, securities dealers, fiduciary administrators) operating in Brazil's capital markets. Its core offerings include self-regulatory codes and supervisory activities under formal CVM agreements, professional certification and education programs (CPA, CFP, CNPI, PQO, CEA, Ancord), the largest aggregated database and market data services for Brazilian capital markets, and industry representation before regulators and international bodies (IOSCO, IIFA, ICMA, ISDA).

Product overview

ANBIMA (Brazilian Financial and Capital Markets Association) is a self-regulatory organization representing over 300 institutions in Brazil's financial landscape. The organization operates a multi-faceted platform consisting of the International Website as the primary public-facing portal, the Brazilian Market Dashboard for interactive data, the Transparency Platform for fund fee disclosure, and Futures Radar for strategic innovation intelligence. ANBIMA also manages the Anbima Innovation Network and Tokenization Initiative to drive digital transformation. Key research products include the X-ray of the Brazilian Investor report and Finfluence report. The organization provides self-regulation services with CVM agreements, education/certification programs including CPA with European equivalence, and maintains the largest database on Brazilian capital markets. ANBIMA is structured around four core functions: Market Practice & Regulatory Policy, Education & Certification, Self-Regulation, and Data & Analytics.

Differentiator

Problem solved

Functional benefit

Brands

• Anbima Innovation Network: A network focused on accelerating digital transformation in Brazil's capital markets through AI adoption and innovation initiatives.
• Anbima Sustainability Network
• Anbima Diversity and Inclusion Network
• Anby
• Futures Radar
• Finfluence
• X-ray of the Brazilian Investor

Products and services

• ANBIMA Transparency Platform
• Brazilian Market Dashboard
• Futures Radar
• Education and Certification Programs (CPA, CFP, CNPI, PQO, CEA, Ancord)
• Self-Regulation Services
• Anby AI Assistant
• Market Data and Analytics Service
• DLT Network Pilot for Tokenized Assets

Quantifiable outcome

• 398% higher organic engagement on Instagram campaign 'No Fundo Você Pode' compared to average performance
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature3 records

Partnerships

17 partnerships are on record, tiered minor and core.

• EFPA SpainminorStrategic or Co-development Partner · 1 January 2026Agreement for ANBIMA's CPA certification to gain European equivalence starting in 2026, opening way for mutual recognition of professional certifications.
• JSDA (Japan Securities Dealers Association)coreStrategic or Co-development Partner · 21 May 2025Memorandum of understanding signed May 2025 for expanded cooperation between organizations. Provides for exchange of information on investment market regulations, supervisory tools and practices, efficient trading mechanisms, new financial instruments, and investor education initiatives. No expiration date.
• IOSCO (International Organization of Securities Commissions)coreStrategic or Co-development Partner · 1 May 2005Member since 2005, actively participating in Affiliate Members Consultative Committee (AMCC) with approximately 74 members. ANBIMA chaired AMCC for three consecutive terms from 2012 to 2018. Involved in AMCC AI Working Group (established 2024), AMCC Index Provider Working Group, Primary Market Network, and AMCC Steering Group. Submitted joint study with ICI on index providers to IOSCO board.
• IIFA (International Investment Funds Association)coreStrategic or Co-development Partner · 1 May 2003Member since 2003. ANBIMA has chaired IIFA twice (2012, 2020) and currently sits on the Board of Directors. Active in ESG, cybersecurity, and regulatory affairs committees. CEO Zeca Doherty serves as ANBIMA's representative on the board.
• ICMA (International Capital Market Association)coreStrategic or Co-development PartnerMember participating in working groups within ICMA's sustainable finance pillar, focusing on sustainability reporting and green financing activities. Collaborated on green bond standards as model of global cooperation.
• ISDA (International Swaps and Derivatives Association)coreStrategic or Co-development PartnerCollaboration agreement allowing use of technical materials related to credit derivatives, including defining credit events and standardizing confirmation models. ANBIMA participates in ISDA Annual General Meeting.
• ICSA (International Council of Securities Associations)coreStrategic or Co-development PartnerMember of the Board of Directors. Contributing to discussions aimed at harmonizing global capital market regulations and improving cross-border capital flows.
• GFANZ (Glasgow Financial Alliance for Net Zero)coreStrategic or Co-development PartnerMember of the GFANZ Brazil Chapter Consultive Group. Contributing strategic insights to support Brazil's transition to a net-zero economy.
• FIAFIN (Ibero-American Federation of Investment Funds)coreStrategic or Co-development PartnerANBIMA chaired FIAFIN for two terms (2010 and 2012) and served as deputy chair in 2020. Currently leads the self-regulation committee. CEO José Carlos Doherty elected vice president for two-year term. Brings together fund industry associations from 13 Ibero-American countries.
• UNCTAD (United Nations Conference on Trade and Development)minorStrategic or Co-development PartnerMember of the Sustainable Investment Advisory Board since 2023. Advises on sustainable finance initiatives and contributes to achievement of UN Sustainable Development Goals (SDGs).
• PRI (Principles for Responsible Investment)minorStrategic or Co-development PartnerMember of 'PRI in Person Local Action Forum.' Provides feedback on agenda and format for PRI conferences, helping shape discussions on responsible investment.
• AIMA (Alternative Investment Management Association)minorStrategic or Co-development PartnerMember participating in initiatives that foster best practices and transparency in alternative investments including hedge funds and private equity.
• CFA InstituteminorStrategic or Co-development PartnerPartnership offering equivalencies for professionals who have earned the CFA certification, allowing them to obtain ANBIMA's CFG (Fundamentals of Management Certification).
• CAIA (Chartered Alternative Investments Analyst Association)minorStrategic or Co-development PartnerPartnership granting certification equivalencies for professionals who have earned the CAIA designation, similar to CFA Institute partnership.
• Ibpad (Brazilian Institute for Data Research and Analysis)minorStrategic or Co-development PartnerResearch partnership for FInfluence report on financial influencers, producing semiannual studies monitoring financial conversations across digital platforms since 2020.
• Luxembourg for Finance (LFF)minorStrategic or Co-development PartnerPartnership for Brazil-Luxembourg capital markets link, exploring cross-border opportunities, investor education, and role of Cayman structures in supporting Brazil's investment industry.
• PwC Brasil-PortugalminorStrategic or Co-development PartnerCollaboration spotlighting Brazil-Portugal corridor for global capital, addressing regulatory integration, cross-border asset management and capital flows.

Scale indicators9 records

Recent moves6 records

Expansion highlights8 records

Direct peers

• SIFMA (Securities Industry and Financial Markets Association): SIFMA is the US trade association for the securities industry, representing broker-dealers, banks, and asset managers. Directly comparable to ANBIMA as a national capital markets industry association with self-regulatory functions, market data products, and policy advocacy — the closest structural analog globally.
• AFME (Association for Financial Markets in Europe): AFME represents European wholesale financial markets, including banks, asset managers, and capital markets participants. Highly comparable to ANBIMA in scope (capital markets association + standards-setter + advocacy) and operates across multiple European jurisdictions like ANBIMA does within Brazil.
• JSDA (Japan Securities Dealers Association): JSDA is Japan's securities industry self-regulatory organization with structure very close to ANBIMA's — combining SRO functions, market data, and member certification. ANBIMA signed an MoU with JSDA in 2025, signaling direct peer recognition and structural comparability.
• ICI (Investment Company Institute): ICI represents US regulated investment funds (mutual funds, ETFs, closed-end funds). Closely comparable to ANBIMA's fund-industry representation, statistical data publication, and policy advocacy functions for the world's largest fund market.
• ICMA (International Capital Market Association): ICMA sets standards for international capital markets, particularly fixed income and sustainable finance. ANBIMA is an ICMA member and co-developed green bond standards; ICMA operates as both standards-setter and industry body, closely matching ANBIMA's dual role.
• AIMA (Alternative Investment Management Association): AIMA is the global hedge fund and alternative investment industry association. Comparable to ANBIMA in providing industry representation, best-practice standards, and education/certification for institutional asset managers across multiple jurisdictions.
• FIAFIN (Ibero-American Federation of Investment Funds): FIAFIN brings together investment fund associations from 13 Ibero-American countries. ANBIMA has chaired FIAFIN twice and currently leads its self-regulation committee — making it the most direct regional peer in fund-industry association structure and mandate.
• FIA (Futures Industry Association): FIA is the leading global trade organization for futures, options, and centrally cleared derivatives. Comparable to ANBIMA in providing advocacy, market data, and standards for derivatives markets, though focused on derivatives specifically rather than full capital markets.
• IIFA (International Investment Funds Association): IIFA is the global association for investment funds, of which ANBIMA has been a member since 2003 and a board member. Directly comparable in representing the fund industry internationally with similar member services, policy advocacy, and cross-border collaboration.

Regional players

• ASIFMA (Asia Securities Industry & Financial Markets Association): ASIFMA serves a similar trade association role across Asian capital markets. Comparable in mission (industry representation, data, education) but operates across multiple Asian jurisdictions rather than a single country, and does not have Brazil-specific SRO authority.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/ANBIMA_BR
• YouTubeyoutube.com/user/AnbimaBR
• Facebookfacebook.com/AnbimaBR
• LinkedInlinkedin.com/company/981442
• Instagraminstagram.com/anbimaoficial

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ANBIMA