BM&FBovespa Sees Summertime Launch Of New Trading Platform

The top executive of BM&FBovespa SA (BVMF3.BR) said that a new trading platform, developed with equity partner CME Group Inc. (CME), is expected to launch by August as the Brazilian exchange operator broadens its technology strategy.

BM&FBovespa also is developing a new Sao Paulo-based data center that can house the tools of high-frequency traders, brokers and telecom companies, executives said on a conference call Friday discussing first-quarter results.

The company reported late Thursday a 5.2% decline in first-quarter net profit to 384.2 million Brazilian reais ($237.2 million), down from BRL405.1 million a year earlier. Net operating revenue in the quarter rose 2.5% to BRL472.2 million.

CME and BM&FBovespa, which each maintain an equity stake in the other, are also planning cross-listing of some of the companies' most actively traded futures contracts, which would augment an existing linkage between the Chicago and Sao Paulo exchanges.

Under the plan, BM&FBovespa would list CME's popular miniature-sized futures on the S&P 500 stock index as well as smaller-sized soybean contracts. CME, in return, would list contracts tied to the iBovespa stock index.

-By Jacob Bunge, Dow Jones Newswires; 312 750 4117; jacob.bunge@dowjones.com

--Gerald Jeffris contributed to this article.

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