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The agreement between CME Group and BM&FBOVESPA, which foresees an order routing system that is being developed by both exchanges, was promoted in the United States through a series of events. Approximately 180 people, among them investors, brokerage houses, and technology companies, attended two seminars that were held in Chicago and New York, on June 23 and 26, respectively.
One of the objectives of the events was to bring together Brazilian and international brokerage houses, in order for them to establish partnerships and commercial deals related to the order routing agreement between both exchanges; and also to enable Brazilian brokerage houses to attract new clients abroad.
During the events, presentations were given by Mr. Cícero Augusto Vieira Neto, BM&FBOVESPA’s Chief Operating Officer; Mr. Paulo de Souza Oliveira Junior, BM&FBOVESPA’s Chief Business Development Officer; Mr. Richard Redding and Mr. Neal Braddy, CME Group’s Managing Directors; besides other presentations by representatives of both exchanges and brokerage houses. In addition to the events, BM&FBOVESPA also visited American financial companies and participated in the Managed Funds Association (MFA) event in Chicago, on June 23, 24, and 25.
The partnership between BM&FBOVESPA and CME Group was signed on February 26, 2008 and envisions the interconnection between Globex (CME Group’s electronic trading platform) and GTS (Global Trading System, BM&FBovespa’s derivatives electronic trading platform) until the end of this year. Upon conclusion of the project, the Brazilian exchange will distribute, internationally and in a short time frame, all of its products through the world’s largest derivatives trading platform. Globex reaches more than 100,000 terminals in more than 80 countries, while GTS reaches approximately 700 terminals.
