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Posted on November 5, 2012
Americas Trading Group, a provider of financial technology, will create a platform with NYSE Euronext (NYX) for buying and selling Brazilian stocks starting next year.
Americas Trading System Brasil, or ATS Brasil, plans to start in 2013, pending regulatory approval, Rio de Janeiro-based ATG said in a statement today. ATG will have a controlling interest and operational management while NYSE Technologies, a unit of NYSE Euronext, will be a minority shareholder. NYSE Technologies will be the “core technology provider” for the system, which will seek to attract investors including high- frequency traders within the country and from outside, according to the statement.
ATS Brasil will operate initially as a so-called organized OTC market, the statement said. It will use NYSE Technologies’ Universal Trading Platform, ATG said. The platform will compete with BM&FBovespa SA (BVMF3), owner of the country’s dominant exchange.
“The entry of ATS Brasil starts a new cycle in the Brazilian exchange market,” Fernando Cohen, president of ATG, said in the statement. “Our innovative, high-performance order execution platform will generate more liquidity for the capital markets. This initiative should stimulate cost reduction by offering efficiency gains for investors.”
The platform needs the approval of the Central Bank of Brazil and the Brazilian Securities Commission before it can start trading, the statement said.
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