Itau Securities chooses Nyse Technologies for DMA platform

Itau Securities chooses Nyse Technologies for DMA platform

Itau Securities has contracted the technology arm of Nyse Euronext to develop an electronic trading platform that will allow customers from around the world to send orders directly to Brazil's BM&F Bovespa.

Itau Securities - the brokerage arm of Banco Itau - has selected Nyse Technologies to build, deploy and maintain the platform, making it the first firm to offer Direct Market Access (DMA) connectivity to BM&F Bovespa.

Nyse Technologies says the system combines comprehensive hosting software with an integrated back office platform utilising its SFTI network. The system architecture will provide Itau Securities with low latency, real-time market data and high throughput DMA messaging capabilities for high-frequency customers, says the vendor.

Roberto Nishikawa, CEO, Itau Securities, says: "As we continue our global expansion to London, Dubai, Hong Kong and Tokyo, Itau Securities is working with Nyse Euronext to build this new platform giving us the ability to offer our customers outside Latin America a robust, innovative trading solution for trading in our markets."

Stanley Young, CEO, Nyse Technologies, adds: "With our industry-leading technology and Itau's extensive customer relationships in the Americas, Europe, the Middle East and Asia, we will be implementing a new breed of direct market access solutions unlike anything currently available in Latin America."

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