CME Group, BM&FBOVESPA Announce September 30 Start Date for Order Routing
September 29 2008 - 8:45AM
PR Newswire (US)
CHICAGO and SAO PAULO, Brazil, Sept. 29 /PRNewswire-FirstCall/ --
CME Group, the world's largest and most diverse derivatives
exchange, and BM&FBOVESPA, the largest exchange in Latin
America, have announced that the order routing of BM&F
derivatives products on CME Globex(R) is scheduled to begin
September 30. The order routing linkage will enable customers in
more than 80 countries using the CME Globex electronic trading
platform to now trade BM&FBOVESPA products directly, including
futures and options on One Day Inter-Bank Deposits, the Bovespa
Stock Index, which is pending regulatory approval, and commodities
such as Arabica coffee, live cattle and corn. Starting in the
fourth quarter of 2008, BM&FBOVESPA customers will have the
ability to trade CME Group products directly through their
BM&FBOVESPA connections, including CME Group futures and
options on interest rates, equity indexes, foreign exchange,
commodities and energy and metals products. "Our agreement with
BM&FBOVESPA is another example of CME Group's commitment to
expand our global offerings and services to our customers, and we
want to thank the customers and employees who have worked so hard
in recent weeks to make this a reality," said CME Group Executive
Chairman Terry Duffy. "As one of the world's leading financial
exchanges, CME Group will continue to offer products to investors
worldwide using the most up-to-date technology that add customer
and shareholder value." "The CME Group and BM&FBOVESPA
cross-equity investment and strategic alliance is the first ever
arrangement between a major global exchange and the premier
exchange in Latin America," said Craig Donohue, CME Group Chief
Executive Officer and a member of the BM&FBOVESPA board of
directors. "With Brazil's position as the world's tenth largest
economy and with BM&FBOVESPA offering some of the most
successful and liquid Latin American futures and options products,
we are pleased to expand our customers' access to these important
markets. We also look forward to the establishing the next phase of
our strategic partnership when CME Group products will be directly
accessible to customers trading on the BM&FBOVESPA platform."
"As the largest Latin American economy, Brazil has a sophisticated
financial system which uses state-of-the art technology, speeding
up transactions and providing them with security by employing
efficient regulatory, self-regulatory and risk control systems. The
Brazilian financial and capital market has been strongly developing
in the last few years. Today it offers a variety of highly complex
products which attract both domestic and foreign investors. This is
evidenced by the impressive capital inflows that were registered
during the last IPOs. All of this stresses the high potential that
an international financial marketplace has to flourish in Brazil,"
said Gilberto Mifano, Chairman of the BM&FBOVESPA Board of
Directors. "The start of the order routing with the CME Group
initiates the global expansion of BM&FBOVESPA and represents
the complete electronification of our markets, including broader
global distribution of our equities products such as stocks,
options, forwards and ETFs, on a parallel track with our futures
products. The Brazilian market has matured, counting on the most
up-to-date technology and efficient tools to meet demands. With
this partnership, BM&FBOVESPA, which is the world's third
largest exchange in market capitalization, hopes to expedite the
construction of a large financial and commodity market in South
America, and it certainly has the means to become the liquidity hub
for this market," explained Edemir Pinto, BM&FBOVESPA Chief
Executive Officer. "I would like also to thank the IT teams at CME
Group and BM&FBOVESPA for their commitment with the deadlines."
More information on the agreement can be found at
http://www.cmegroup-bmfbovespa.com/. CME Group
(http://www.cmegroup.com/) is the world's largest and most diverse
derivatives exchange. Building on the heritage of CME, CBOT and
NYMEX, CME Group serves the risk management needs of customers
around the globe. As an international marketplace, CME Group brings
buyers and sellers together on the CME Globex electronic trading
platform and on trading floors in Chicago and New York. CME Group
offers the widest range of benchmark products available across all
major asset classes, including futures and options based on
interest rates, equity indexes, foreign exchange, energy,
agricultural commodities, metals, and alternative investment
products such as weather and real estate. CME Group is listed on
NASDAQ under the symbol "CME." The Globe logo, CME, Chicago
Mercantile Exchange, CME Group, Globex and E-mini, are trademarks
of Chicago Mercantile Exchange Inc. All other trademarks are the
property of their respective owners. Further information about CME
Group and its products can be found at http://www.cmegroup.com/.
BM&FBOVESPA S.A. -- Securities, Commodities and Futures
Exchange was created in 2008 with the integration between the
Brazilian Mercantile & Futures Exchange (BM&F) and the Sao
Paulo Stock Exchange (Bovespa). Together, the companies have formed
the third largest exchange worldwide in terms of market value, the
second largest in the Americas, and the leading exchange in Latin
America. In today's global scenario, in which responding quickly to
transformation has become a competitive asset, BM&FBOVESPA is
an attractive investment option with cost efficient trading fees.
Among its broad range of trading products, the new Exchange offers
equities, securities, financial assets, indices, interest rates,
agricultural commodities, and foreign exchange futures and spot
contracts. As a leader in the Latin American market of equities and
derivatives, BM&FBOVESPA's mission is to act in the
macroeconomic growth dynamic of the Latin American market and
position, not only the Exchange, but also Brazil as an
international financial hub for equities, commodities, and other
financial instruments, with operational excellence and socially
responsible attitudes. CME-G BVMF3 DATASOURCE: CME Group CONTACT:
Media, Mary Haffenberg, +1-312-930-3435, or Allan Schoenberg,
+1-312-930-8189, both at , or Investors, John Peschier,
+1-312-930-8491, all of CME Group; or Media, Fatima Lopes, 55 11
3119 2330, , or Investors, Carlos Kawall Leal Ferreira, 55 11 3233
2431, both of BM&FBOVESPA S.A. Web site:
http://www.cmegroup.com/
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