Brazil's BM&F Bovespa, CME Agree To Cross-List Stocks Futures

Brazilian securities exchange BM&F Bovespa SA (BVMF3.BR) and Chicago's CME Group Inc. (CME) on Tuesday said they have agreed to a cross-listing of some of their most actively traded futures contracts, deepening the relationship between the two partners.

BM&FBovespa would list CME's futures on the S&P 500 stock index while CME, in return, will list contracts tied to the iBovespa stock index, the companies said in a statement.

The Brazilian group, meanwhile, will also list the CME's miniature-sized futures for soybean and oil contracts, to be settled in Brazilian reais, they said.

CME and BM&F Bovespa, which maintain equity stakes in each other, expect to launch their respective equity index futures in the second half of 2012. BM&F expects to launch the mini-sized soybean futures in the second quarter of 2012, and the WTI futures in the third quarter of 2012, according to the statement.

-By Matthew Cowley, Dow Jones Newsiwires; +55 11 3544 7082; matthew.cowley@dowjones.com

(Jacob Bunge contributed to this article.)

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