On July 9, 2008, the Brazilian anti-trust agency, CADE (Conselho Administrativo de Defesa Econômica) approved, without restrictions, the Act of Concentration No. 08012.005300/2008-13, relating to the merger of the operations of BM&F and Bovespa Holding. The Secretariat of Economic Law (SDE - Secretaria de Direito Econômico) and the Secretariat for Economic Monitoring (SEAE - Secretaria de Acompanhamento Econômico) had already recommended the approval of the merger without restrictions.
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