The BM&FBovespa created an opportunity and XP Gestão de Recursos seized it. The asset management firm is now running the first home broker service for fixed income securities. The São Paulo Exchange had announced its plan of offering the service, but never carried the project to fruition, despite denials of having abandoned the idea. The incentives offered by the federal government for long term private distributions and secondary market trading have contributed to the arrival of the new tool, which other brokerages are reportedly also developing.

Because the system is private, the XP home broker does not connect clients to an electronic trading session as does traditional stock trading software. In practice, it's like an extensive inventory of securities — government bonds, debentures, bank deposit certificates (CDBs), agribusiness letters of credit (LCAs) and real estate receivables certificates (CRIs) — that make up the firm's own portfolio. "It's an inventory to be resold to clients", explains Eduardo Glitz from XP. Investors can also go in the opposite direction and sell the securities back to the firm.