The Brazilian Securities, Commodities and Futures Exchange announced, on 28 December 2009, that it has established a strategic and commercial partnership with the NASDAQ-OMX group. The agreement includes the development of an order routing system between participating brokers located in the U.S. and brokers located in Brazil.
This service will enable order routing of American and Brazilian cash equities for execution in the respective domestic marketplaces. Due to regulatory reasons, the aforementioned system will be developed autonomously and independently by NASDAQ OMX, through a technology subsidiary, and will be launched only after any required authorizations are granted by the respective regulatory authorities of Brazil and the U.S.
In addition to the order routing system, the partnership also encompasses the global distribution of NASDAQ OMX and BM&FBOVESPA market data and the provisioning of NASDAQ OMX products and corporate services to public companies in Brazil.
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Source: BM&FBOVESPA, 06.01.2009
Filed under: BM&FBOVESPA, Brazil, Data Management, Exchanges, Latin America, Market Data, News, BM&FBOVESPA, Brazil, Data Management, DMA Direct Market Access, Exchanges, Market Data, NASDAQ, OMX, Order Routing, Regulation
