CHICAGO, NEW YORK AND SAO
PAULO, March 6, 2012
/PRNewswire/ -- CME Group, the world's leading and most diverse
derivatives marketplace, and BM&FBOVESPA (BVMF), the largest
equity and futures exchange in Latin
America, today announced a cross-listing and cross-licensing
agreement involving S&P 500 Index and Bovespa Index (IBOVESPA)
futures. BVMF will also license CME Group's Chicago Board of Trade (CBOT) Mini-sized
Soybean and NYMEX Light Sweet Crude Oil (WTI) futures settlement
prices. The agreement also provides the companies the
opportunity to license additional products in the future.
Under the cross-listing arrangements, the IBOVESPA, the main
indicator of the Brazilian stock market's average performance, will
be listed on Chicago Mercantile Exchange (CME) and cleared through
CME Clearing as U.S. dollar denominated Ibovespa futures.
BVMF will launch U.S. dollar denominated S&P 500 Index futures
to be settled in Brazilian real, the CBOT listed Mini-sized Soybean
futures and the NYMEX listed Light Sweet Crude Oil (WTI)
futures. The S&P 500 is being made available to BVMF via
sublicense from CME Group and S&P Indices, one of the world's
leading index providers, under CME Group's exclusive global
license.
BVMF expects to launch the Mini-sized Soybean futures in the 2nd
quarter of 2012, and the WTI futures in the 3rd quarter of
2012. Each exchange expects to launch its respective equity
index futures in the second half of 2012.
"We continue to build on our relationship with BM&FBOVESPA,
and are working together closely to provide more ways to manage
risk for our global customers through technology and order
routing," said Bryan Durkin, CME
Group Chief Operating Officer and Managing Director, Products &
Services. "These new cross-listing arrangements provide both
CME Group's and BM&FBOVESPA's customers access to some of the
key, globally-relevant benchmark products. This initiative
will allow our clients to improve their ability to better manage
market and credit risk exposure across various asset classes.
As our relationship expands, we will continue to explore joint
technology and product opportunities with BM&FBOVESPA to bring
more innovative and new trading solutions to the global
marketplace."
"Our long standing strategic partnership with CME Group
continues to bring new benefits to both companies' customers.
By providing order routing, joint trading technology development
and now the cross-listing initiative, we reinforce our commitment
to providing superior products and trading opportunities to our
clients in Brazil and also offer
the main Brazilian equity benchmark index in the U.S.," said
Marcelo Maziero, BM&FBOVESPA
Chief Product and Customer Officer. "The cross-listing
arrangement will provide much easier local access to international
flagship products with little or no extra technology investment,
catering for better risk management with reduced costs."
"S&P Indices and the CME Group have an extensive, successful
history of opening up news areas of investment to the world's
financial markets," says Alexander
Matturri, Executive Managing Director at S&P
Indices. "Via our sublicensing agreement with BM&FBOVESPA
and the CME Group, Brazilian investors will now be able to further
diversify and strengthen their portfolio by taking a position in
the U.S. equity markets as defined by the S&P 500."
For more information regarding this update, please visit our
international partnership page:
http://www.cmegroup.com/international/partnership-resources/bmfbovespa-resources.html
ABOUT CME Group
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural commodities, metals, weather
and real estate. CME Group brings buyers and sellers
together through its CME Globex® electronic trading platform and
its trading facilities in New York
and Chicago. CME Group also operates CME Clearing, one of the
world's leading central counterparty clearing providers, which
offers clearing and settlement services for exchange-traded
contracts, as well as for over-the-counter derivatives transactions
through CME ClearPort®. These products and services ensure that
businesses everywhere can substantially mitigate counterparty
credit risk in both listed and over-the-counter derivatives
markets.
ABOUT BM&FBOVESPA
BM&FBOVESPA is the world's third largest exchange by market
value. The largest equity and futures exchange in
Latin America, BM&FBOVESPA
develops and manages systems for the trading and settlement of
securities and derivatives products based on interest rates,
foreign exchange, equity and inflation indices, financial
indicators, agricultural and energy commodities and more.
With its fully integrated business model BM&FBOVESPA offers not
only a state-of-the-art trading environment, but also registration,
clearing, settlement, risk management, central counterparty and
depository services. For more information about BVMF, please
visit: http://www.bmfbovespa.com.br
ABOUT S&P INDICES
S&P Indices, a leading brand of the McGraw-Hill Companies
(NYSE:MHP), maintains a wide variety of investable and benchmark
indices to meet an array of investor needs. Over $1.45 trillion is directly indexed to our
indices, which includes the S&P 500, the world's most followed
stock market index, the S&P/Case-Shiller Home Price Indices,
the leading measure of U.S. home prices, the S&P Global BMI, an
index with approximately 11,000 constituents, the S&P GSCI, the
industry's most closely watched commodities index, and the S&P
National AMT-Free Municipal Bond Index, the premier investable
index for U.S. municipal bonds. For more information, please visit:
www.standardandpoors.com/indices
It is not possible to invest directly in an index. S&P
Indices does not sponsor, endorse, sell, or promote any S&P
index-based investment product. This document does not constitute
an offer of services in jurisdictions where S&P Indices or its
affiliates do not have the necessary licenses. S&P Indices
receives compensation in connection with licensing its indices to
third parties.
CME Group is a trademark of CME Group Inc. The Globe Logo,
CME, Globex and Chicago Mercantile Exchange are trademarks of
Chicago Mercantile Exchange Inc. All other trademarks are the
property of their respective owners. Further information
about CME Group (NASDAQ: CME) and its products can be found at
www.cmegroup.com.
IBOVESPA is a trademark of BM&FBOVESPA, registered before
the National Institute of Industrial Property in Brazil.
CME-G
SOURCE CME Group