FiNETIK – Asia and Latin America – Market News Network

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July 31, 2008 • 1:08 am 0

BM&F BOVESPA Celebrates 100 Companies Listed On The Novo Mercado – Exchange Announces New projects

BM&FBOVESPA prepares to launch a listing segment for BDRs (Brazilian Depositary Receipts). The objective behind this new project is to allow foreign companies to benefit from the same structure created for the Novo Mercado segment. The announcement was made on Friday, July 25, by the Exchange’s CEO, Mr. Edemir Pinto, during the event to commemorate the 100 companies listed on the Novo Mercado segment. “The idea of launching BDRs is part of our project of broadening the Exchange’s markets in Latin America. We are aiming at all Latin American companies that have the possibility of being listed on the Brazilian market,” stated Mr. Pinto, who also announced the creation of the BM&FBOVESPA in the countryside project. “The new Exchange is a place to think about the future both by investing in stocks and by hedging your agricultural production,” said the CEO, referring to the new program’s objectives.

The president of the Brazilian Securities and Exchange Commission (CVM), Ms. Maria Helena Santana, classified the Novo Mercado segment as a Brazilian asset. “Novo Mercado is probably the institutional factor that most contributes to market development available in our country today,” said Ms. Santana. BM&FBOVESPA’s Chairman, Mr. Gilberto Mifano, highlighted the importance of corporate governance, qualifying the segment as a defining milestone in the Brazilian capital market and as a model recognized throughout the world. “Brazil wins with this model. The Novo Mercado segment is the way modern Brazil resolves its financing needs.

This can be witnessed by the fact that our vigorous economy is bravely resisting the economic recession taking place in developed countries,” assessed Mr. Mifano. According to Mr. Mifano, the companies listed on the Novo Mercado segment, together, have a market value of BRL445 billion, almost 19% of BOVESPA’s total capitalization. “The IPOs have captured a total of BRL96.5 billion and have attracted thousands of new individual investors to the market.”

For full article click here

Filed under: BM&FBOVESPA, Brazil, Exchanges, Latin America, News, , , , , , ,

July 31, 2008 • 12:51 am 0

UBS launches direct market access to Brazil

UBS is among the first broker-dealers to offer non-Brazilian clients direct electronic equities trading and execution in this major market.

Direct Market Access provides clients with greater control over their orders, faster execution, lower cost of trading, and greater transparency. DMA enables UBS clients to quickly and efficiently send their electronic orders directly to the exchange, without passing them through an intermediary. Recent market regulation enacted in Brazil allows for non-domestic investors access to direct electronic trading on Bovespa (Bolsa de Valores de Sao Paulo), a Sao Paulo-based stock exchange. Bovespa is the second-largest stock exchange in the Americas, and the third largest in the world.

Mario Campos, Head of Latin America Sales & Trading, said, “We have a longstanding commitment to providing clients with seamless, direct, electronic access to the major markets all over the world. We are pleased to be one of the first brokers to offer global clients with DMA in Brazil. DMA gives our clients unmatched, efficient global access to liquidity.”

Before now, a non-Brazilian client wishing to buy or sell a stock trading on Bovespa had to send the order to a broker-dealer desk based in Brazil, which would then enter the order into a system connected to the exchange. For full article click here

Source: FINEXTRA 29.07.2008

Filed under: News, , , , , , ,

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