Trading Technologies International (TT) today announced that TT has linked its X_Trader derivatives trading platform to Latin America's largest futures exchange, BM&FBOVESPA, via the CME Group's Globex platform.
The new link to BM&FBOVESPA allows X_TRADER users to trade the main derivatives contracts listed on the exchange. These products include:
- Interest Rates -- One-Day Interbank Deposit, Long Term Interbank Deposit and ID x US Dollar Swap with Reset contracts
- Equity Index Futures -- Ibovespa, Mini-Ibovespa, Brazil Index-50, General Market Price Index and Mini General Market Price Index (pending regulatory approval)
- Currency -- USD Futures, Mini-USD and Euro Futures
- Agricultural -- Arabica Coffee, Robusta, Cotton, Real-Denominated Corn, Soybeans, Crystal Sugar, Feeder Cattle, USD Denominated Ethanol and Anhydrous Fuel Alcohol
- Sovereign Debt Instrument (Bonds) -- A-Bond Futures, Three-, Five- and Seven-Year Brazilian Sovereign Credit Default Swaps and Ten-Year US Treasury Notes
- Metals -- Gold Futures and Spot contracts
"By means of this connection, global investors can trade a complete and diversified range of Brazilian products and hedge their risks across the two Exchanges. The GTS order book will be transmitted in real time to the CME Globex users, and liquidity will be increased," says Cicero Augusto Vieira Neto, Chief Operating Officer of the BM&FBOVESPA.
"Trading Technologies' customers have expressed a strong desire to access the Latin American markets, so we are very pleased to be working with BM&FBOVESPA. Our BM&FBOVESPA connection has been thoroughly tested and is available to our customers," said Harris Brumfield, CEO of TT.
TT clients have the option to host BM&FBOVESPA gateways internally or outsource connectivity to TTNET(TM), TT's fully managed hosting solution.
BM&FBOVESPA is the world's third largest exchange by market capitalization. The Exchange ranked as the world's seventh largest derivatives exchange in 2007, with total volume of 426,363,492 contracts. This represented an increase of more than 50% over 2006 volume. The BM&FBOVESPA's One-day Interbank Deposit futures contract ranked fifth among all exchange traded derivatives contracts globally in 2007.
BM&FBOVESPA and CME Group signed an agreement earlier this year that incorporates cross-investment, order routing arrangements and future business opportunities. As part of this agreement, CME Globex customers will have access to the order book of BM&FBOVESPA's Global Trading System (GTS) platform via the Globex platform.