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CME Group and BM&FBOVESPA talk up order routing agreement results

08 July 2009  |  1105 views  |  0 Source: CME Group

CME Group, the world's largest and most diverse derivatives exchange, and BM&FBOVESPA, the largest exchange in Latin America, announced that more than two million contracts have now traded as a result of their order routing agreement that was fully implemented on February 9, 2009.

The order routing linkage enables customers outside of Brazil for the first time to directly access BM&F segment products on CME Globex, and customers inside Brazil using GTS, one of BM&FBOVESPA's electronic trading platforms, to directly access CME Group products.

"Facilitating CME Group customer access to BM&F segment products has opened up an entire new set of opportunities for customers outside of Brazil to gain exposure to the Brazilian marketplace," said Rick Redding, CME Group Managing Director of Products and Services. "With one connection, our customers have an entree to products for one of the most closely followed economies in the world."

"This new direct access to our markets has been very well received and we now look forward to expanding contract offerings to customers even further with new jointly developed products from CME Group and BM&FBOVESPA. Through this week, more than 2.2 million contracts were traded, representing more than 227,000 transactions, totaling over R$177.36 billion," said Cicero Augusto Vieira Neto, BM&FBOVESPA Chief Operations Officer.

The order routing agreement includes access to some of the most liquid futures and options contracts in the world on interest rates, commodities such as grains and livestock, equity indexes and foreign exchange listed at CME Group, and One Day Inter-Bank Deposits, the Bovespa Stock Index, which is pending regulatory approval, and commodities such as Arabica coffee, live cattle and corn available at BM&FBOVESPA.

Also as part of the arrangement between the two exchanges, CME Group owns a 4.9 percent equity stake in BM&FBOVESPA, and BM&FBOVESPA owns a 1.7 percent equity stake in CME Group.

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