FiNETIK – Asia and Latin America – Market News Network

Asia and Latin America News Network focusing on Financial Markets, Energy, Environment, Commodity and Risk, Trading and Data Management

Brazil:XP Investimentos offers Global ULL Access to BM&F Bovespa with Perseus

XP Investimentos connects with the Perseus ULL network for order routing to BM&F Bovespa

XP Investimentos choose RCB compliant Perseus network for sponsored international trading

SAO PAULO and NEW YORK – 28 August 2013 – Perseus Telecom, a leading provider of ultra-low latency, high capacity global networks today announced that XP Investimentos with offices in Sao Paulo and New York, has established an ON-NET presence on the Perseus Telecom global exchange network.

XP Investimentos is a market leading broker dealer and the largest independent broker dealer in Brazil. XP executes approximately seven percent of the Bovespa equity volume on a daily basis and is responsible for twenty percent of all options volume on the Bovespa. XP Investimentos is also the second largest Ibovespa futures broker on the BM&F making it a full service broker deal in all Brazilian exchange securities.

The strategic network connection with Perseus allows XP Investimentos clients in the US, Europe and Asia to access Brazilian exchange market data and trade execution over the Global Telecoms Business Innovation Award winning link to Brazil.  An XP customer connects through sponsored access over the Perseus ultra low latency network with more than sixty global points-of-presence.

Perseus has operated the fastest market-to-market network connection between New York and Brazil from the datacenters of Nasdaq OMX and the BM&F Bovespa for almost two years while working tirelessly to enhance performance. Dozens of companies within financial markets including exchanges, banks, brokers, high frequency traders, market data and order management vendors have all found advantageous opportunities with accelerated speed over this unique Perseus network.

Customers have selected Perseus Telecom for the fastest connections from Chicago to New York, New York to Brazil, New York to London, London to Frankfurt and with other key market-to-market connections. Moreover, Perseus customers rely on best-in-class speed to market backed by a performance driven “Walk-Away” Service Level Agreement (SLA).

Brian Sweeney, Managing Director of XP Securities in New York, said, “the Brazilian trading market continues to expand its appeal around the world, making it more important for XP to offer simplified access to our customers and interested counter parties.”

Marcio Castro, Chief Information Officer of XP Investimentos and XP Securities added, “By having the Perseus connection in place, XP will provide clients with the option for the fastest sponsored access to the BM&F Bovespa from many points around the world.  Mr. Castro added, “XP chose Perseus because it is the fastest network between our two most important markets New York and Brazil. It is highly reliable and meets the RCB compliant features needed to move trades into the BM&F Bovespa exchange.”

Dr. Jock Percy, CEO of Perseus Telecom, commented, “Perseus has built a global network from market to market precisely for major market leading broker dealers such as XP Investimentos. We are very happy XP has chosen to allow its buy-side customer to connect with XP over Perseus, further bringing markets together regionally and internationally.”

Source: Perseus, 28.08.2013

Filed under: BM&FBOVESPA, Brazil, Exchanges, Latin America, Trading Technology, , , , , , ,

Perseus Opens Throttle on Award Winning New York to Brazil Exchange Network

  • Global Telecoms Business Innovation awarded fastest network from New York to Brazil increases in speed

  • Perseus customers see ‘Evergreen’ latency enhancements with CME, NYSE, Nasdaq OMX with BM&F Bovespa connection

NEW YORK and SAO PAULO – 24 July 2013 – Perseus Telecom, a leading global provider of ultra-low latency, high capacity networks from market-to-market, today announced it has made the company’s industry leading network between Nasdaq OMX in New York and BM&F Bovespa in Sao Paulo, 2.5 milliseconds faster than the already fastest recognized connection by the Global Telecoms Business Innovation Award in 2012.

Perseus has operated the fastest market-to-market network connection between New York and Brazil from the datacenters of Nasdaq OMX and the BM&F Bovespa for almost two years while working tirelessly to enhance performance. Dozens of companies within financial markets including exchanges, banks, brokers, high frequency traders, market data and order management vendors have all found advantageous opportunities with accelerated speed over this unique Perseus network.

Customers have selected Perseus Telecom for the fastest connections from Chicago to New York, New York to Brazil, New York to London, London to Frankfurt and with other key market-to-market connections. Moreover, Perseus customers rely on best-in-class speed to market backed by a performance driven “Walk-Away” Service Level Agreement (SLA).

The Perseus SLA is a standard for all customers allowing them to enjoy the benefit of having one contract to negotiate the lowest latency routes with a given expectation that as a lower latency solution becomes available, the customer will benefit from the service enhancement at no extra charge.

Andrew Kusminsky, Chief Operating and Strategy Officer at Perseus said, “Optimizing our network to and within Brazil in an effort to keep our commitment to our customers is a part of a daily regimen for our team. We are committed to ensuring our network meets the performance requirements our customers demand.”

Brazil continues to surge in appeal for high performance trading from foreign institutions in the US, Europe and Asia participating in the markets of the BM&F Bovespa exchange. Financial markets are a major part of Brazil’s attraction for low-latency networks, but as Brazil hosts the world’s main attractions FIFA World Cup 2014 and the Rio de Janerio Olympics in 2016, there is increasing need to serve BIG data, real-time broadcast and digital media add to the driving need to have service providers meet lower and lower latency metrics.

“Perseus has taken all of the necessary steps through our operations unit in Brazil to ensure we meet the regulatory environments as a licensed facilities carrier,” Kusminsky added. “The Perseus connection from New York to Brazil is now optimized through custom built networks spanning from Fortaleza, Rio de Janeiro and on through Sao Paulo, ideal for trading, broadcasting and the movement of big data.”

 

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

Sao Paulo based BLK Sistemas Financeiros Accelerates Trading with Perseus LiquidPath®

-          Perseus Telecom Brazil Connects BLK Sistemas Financeiros to Brazil Exchange in less than 50 microseconds

-          BLK Sistemas Financeiros Enhances Liquidity options with Perseus Ultra-Low Latency DMA Connectivity

SAO PAULO– 15 July 2013 – Perseus Telecom, a leading provider of ultra-low latency, high capacity global networks, today announced BLK Sistemas Financeiros has connected to the BM&F Bovespa through the Perseus Telecom LiquidPath connection of sub 50 microseconds. LiquidPath launched late in 2012 by Perseus, connects the ALOG/Equinix (SP1) datacenter with the BM&F Bovespa data center (CT1) in less than 50 microseconds Round Trip Delay (RTD).

Perseus Telecom winners of the Global Telecoms Business Innovation award in 2012 for building the fastest connection between the Nasdaq OMX datacenter in New York and the BM&F Bovespa data center in Sao Paulo, has since launched its LiquidPath product, which furthers the commitment to market-to-market trading. LiquidPath assists brokers, vendors and their customers, with international communications, infrastructure support and ultra low-latency last mile connectivity to exchanges.

Rogério Paiva Managing Director at BLK Sistemas Financeiros said, “We carefully selected Perseus Telecom, who is well known in Brazil for its exchange connectivity platform, LiquidPath, which has helped ensure the best performance locally for our customers.”

BLK Sistemas Financeiros specializes in electronic & algorithmic trading with new infrastructure developed in Brazil called ‘Proximity Colocation’ for high speed electronic trading operations. BLK customers utilize sophisticated ultra low-latency straight through processing environment, based on the latest technological advancements available.

“BLK Sistemas Financeiros is a great new addition to the Perseus Telecom community connecting to our global network from Brazil, said Marcos Guimaraes, President of Perseus Telecom Brazil, “BLK can now help its customers take advantage our LiquidPath infrastructure to provide access to the BM&F Bovespa for its trading customers, but also to other exchanges in the 60 global markets Perseus serves.”

Source, Perseus, 15.07.2013

Filed under: BM&FBOVESPA, Brazil, Latin America, Trading Technology, , , , , , , , , ,

Perseus Brazil Debuts Market-To-Market Liquidity Platform LiquidPath®

  • Fastest Connection to the BM&F Bovespa from Equinix/ALOG in Sao Paulo
  • Financial Compliant Network for Global Direct Market Access

Perseus Telecom, a leading provider of ultra-low latency, high capacity networks for market-to-market connectivity, today announced a fully managed ultra low latency solution offering called LiquidPath®. The service offering encompasses a complete trading network solution and infrastructure service for local and international exchange trading across global financial markets. LiquidPath® was developed to empower both the international Buy-Side with the local Sell-Side in order to take full advantage of the ever-evolving Emerging Markets landscape.

LiquidPath® connects the Perseus ultra low latency global network with key exchange data centers around the world. The service assists with procurement, staging and management of infrastructure for firms in need of support in foreign or emerging markets. Deployed at the beginning of 2013, the LiquidPath® platform connects the Perseus award winning network connection of New York’s Nasdaq OMX datacenter with the Sao Paulo Equinix/ALOG datacenter and into the site of the BM&F Bovespa exchange.

In Brazil, LiquidPath® is run by a local Perseus team of financial technology experts who purchase, install and manage equipment used for market data and trading in the Brazilian financial markets. The solution has connected Equinix/ALOG with BM&F Bovespa in less than 50 microseconds making LiquidPath® the fastest connection in market. LiquidPath® is an RCB compliant network of Brazilian exchange market data and trade execution messages.

Key Features of LiquidPath® Brazil

  • Market-To-Market: Global connectivity to 60+ financial markets.
  • Ultra Low-Latency: Fastest trans-Atlantic connection between London & Frankfurt; New York & London; New York & Sao Paulo.
  • Market Access Acceleration: Turn-up connections with exchanges, vendors and counter parties within proximity datacenters in days not months.
  • Agile Technology Support: Immediate adoption of new trading technologies as made available to stay competitive.
  • Financial Network Compliant: RCB network allowing for DMA access to local CVMs and exchange ports.

The LiquidPath® platform has seen an immediate market adoption, as many customers have connected onto the fast path between the Equinix/ALOG data center and the BM&F Bovespa data center with less than 50 microseconds RTD.

Marcos Guimaraes, President of Perseus do Brazil said, “In this new world of globalized, multi-market and multi-asset trading, the total cost of ownership for a firm has become extremely complex and competitive. Our latest offering provides simple, fast and flexible access to global exchange liquidity solving the problems our top end customers face.”

The Perseus LiquidPath® product is part of a suite of services designed to help trading firms get access to far reaching exchanges’ market data, send order execution and be in proximity with the trading community of multiple markets. Perseus stands by its testament of simplifying the process of trading connectivity, solving the problems that the complexities of international deployment involves and keeping the process efficient so that customers can mitigate risk and save money.

Source: Perseus 25.06.2013

Filed under: Asia, BM&FBOVESPA, Brazil, Exchanges, Latin America, Market Data, Trading Technology, , , , , , , , , , ,

Brazil:Revenue and income on the up at BM&FBovespa

BM&FBOVESPA S.A. (BVMF3) today reported third quarter earnings ending September 30, 2012. The Bovespa segment recorded its second strongest performance to-date.

This performance together with higher Rate per Contract (RPC) for derivatives and growth in non- trading and settlement segments delivered solid revenue increase. Also, expense control in the quarter contributed to improve operating performance.

3Q12 gross revenues reached R$581.3 million, up 6.2% over 3Q11, reflecting growth across all segments;
Adjusted expenses[1] were R$136.0 million, roughly flat compared to 3Q11. Adjusted expenses rose by 6.4% over the previous quarter in line with the Company’s budget for the year;
Operating income reached R$346.8 million, up 7.0% over 3Q11 and operating margin increased by 84 bps;
EBITDA grew 8.1% and EBITDA margin increased by 162 bps compared to 3Q11;
Adjusted net income[2] totaled R$400.6 million, increasing by 0.3% over 3Q11 as operating income growth was offset by a reduction in financial income and higher non-cash taxes;
Adjusted earnings per share rose 1.7%, to R$0.21;
Average Daily Trading Value (ADTV) for the Bovespa segment reached an all-time-high of R$8.4 billion in September 2012;
ADTV of Exchange Traded Funds (ETFs) was up 90.2% year-over-year. Average assets under custody of Tesouro Direto rose by 45.6%;
Average RPC in the BM&F Segment increased 14.7% year-over-year, offsetting the 4.0% reduction in the Average Daily Volume (ADV) for the segment;
R$221.2 million in dividends and interest on capital, comprising 80% of 3Q12 GAAP net income.

“We maintained focus on delivering our strategy to grow and diversify revenues and drive operational excellence,” said BM&FBOVESPA Chief Executive Officer Edemir Pinto. “We are also making significant advances in building state-of-the-art technological capabilities which will place our trading technology and capacity at the forefront of global best practices.”
“In this way, we are ready to capture and optimize the opportunities presented by Brazilian capital markets and this new era of low interest rates. We are making infrastructure investments, focusing on market integrity, developing markets and products, and strengthening relationships with market participants” Mr. Pinto added.

Chief Financial, Corporate Affairs and Investor Relations Officer, Eduardo Refinetti Guardia, said: “BM&FBOVESPA achieved solid results and strong operating leverage in the third quarter, consistently expanding margins and cash generation.”

Filed under: BM&FBOVESPA, Brazil, Exchanges, , , , , ,

ATG taps Nyse Technologies for ATS Brasil

Americas Trading Group (ATG) today announced the formation of a new company that will develop a liquidity center targeting the Brazilian exchange market called Americas Trading System Brasil or ATS Brasil.

Utilizing trading solutions developed by NYSE Technologies, the technology unit of NYSE Euronext, ATS Brasil will offer customers a new equities matching platform in Latin America.

ATG will maintain the controlling interest as well as operational management of the company with NYSE Technologies as a minority shareholder and the core technology provider. ATS Brasil plans to begin operations in 2013, subject to approvals by the Central Bank of Brazil and the Brazilian Securities Commission (CVM).

Fernando Cohen, ATG´s President, believes that the entry of ATS Brasil will have a positive effect on the local stock market as it will contribute to expanding the range of products and services offered to investors in the region. Cohen also emphasized the importance of NYSE Technologies’ decision to expand into the Brazilian market by becoming a partner of ATS Brasil.

Cohen stated that initially ATS Brasil intends to operate in a model known as “the organized OTC market” based on computerization and transparency in order registration and execution, and adopt rigid mechanisms of self-regulation. He further noted that ATS Brasil was not created to compete with BM&FBovespa, but rather to complement it by improving liquidity and price formation for Brazilian assets.

“The entry of ATS Brasil starts a new cycle in the Brazilian exchange market. 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 and create the real possibility of placing the Brazilian market within international standards,” said Fernando Cohen.

Dominique Cerruti, President and Deputy CEO, NYSE Euronext said, “As a leading operator of global markets and market technology, we have designed and deployed proven, market-tested trading platforms in key market centers around the world. We are pleased to partner with ATG ith ATG as they expand their business into equities matching with the ATS Brasil initiative. Our technology platform should provide customers and market participants with the same high-quality trading experience, performance and reliability that they’ve come to expect from NYSE Euronext’s own exchanges.”

ATS Brasil will use the Universal Trading Platform (UTP) developed by NYSE Technologies and used by NYSE Euronext’s global markets. UTP has the capacity to process high volumes of messages with very low latency, giving market participants the opportunity to submit thousands of orders per second while also improving market transparency and liquidity. Additionally, ATS Brasil is expected to attract new investors to the Brazilian market, including local and international high frequency traders. ATG will also utilize NYSE Technologies’ Secure Financial Transaction Infrastructure (SFTI) network to provide global access and direct market data distribution for customers trading outside Brazil. 

Source: FinExtra , 06.11.2012

Filed under: BM&FBOVESPA, Brazil, Exchanges, Latin America, Market Data, Mexico, Trading Technology, , , , , , , , , , ,

Alternative Latin Investor: Wealth Management Issue 18

The Alternative Latin Investor Issue #18 is focusing on Wealth Management in Latin America.

Special Issue: Wealth Management

The World’s First Diamond Fund
Lack of Transparency in Colombia: Root Causes
LatAm Wealth Management Overview
Private Aviation Takes Off in Latin America
High-Tech Financial Technology Hits LatAm

…and much more. Regulations,  Tax & Money Laundering, Structured Finance, Political Risks,  Agri Business, Impact Investment, Wine Investment, Infrastructure, Art

Please view and access Issue 18  in the following formats

Virtual Viewer http://www.alternativelatininvestor.com/Issue18-Preview.htm

For more details and information please view http://www.alternativelatininvestor.com

Source: AlternativeLatinInvestor 18.10.2012

Filed under: Argentina, Banking, BM&FBOVESPA, Brazil, Chile, Colombia, Energy & Environment, Islamic Finance, Mexico, News, Services, Trading Technology, Wealth Management, , , , , , , , , , , , , , , , , ,

BM&FBOVESPA Market Data Feeds and Order Routing – News Letter 14

Changes to PUMA UMDF Market Data Feed in Certification Environment
Since September 11, 2012, a new distribution of the PUMA UMDF instrument groups has been available in the certification environment. The change was necessary to adapt this environment to the start of trading in the S&P 500 futures contract. On October 1, 2012, distribution of SELIC instruments in the certification environment is scheduled to start via existing channels 3 and 4.
New Version of MegaDirect Order Entry Interface Available in Certification Environment
Version 4 of the MegaDirect order entry interface for the BOVESPA segment is available in the certification environment. Participants who use versions 2 and 3 must have them updated, in order to maintain compatibility with the BM&FBOVESPA PUMA Trading System matching engine. MegaDirect users must perform the tests mentioned in External Communication 023/2012-DI by no later than September 28, 2012.
EntryPoint Order Entry Interface Available in Production Environment
The EntryPoint trading interface for the BOVESPA segment is now available in the production environment. Although it does not entail significant performance benefits (lower latency) at this time, it mitigates the risk of impacts during BOVESPA segment migration to the BM&FBOVESPA PUMA Trading System.

Customers who will use this new interface must observe the requirement for uniqueness in the ClOrdID (11) tag in the order entry, change and cancellation messages, to prevent any crossed references between orders of the same customer and instrument from generating inconsistencies in the participant’s management. The customer is responsible for correctly filling out the tag, as announced in External Communication 021/2012-DI.

Alterations to ProxyDiff Market Data Feed in Certification Environment
The ProxyDiff market data feed is now available in the certification environment in accordance with the alterations described in External Communication 024/2012-DI. This market data feed includes a large number of test cases (e.g. clash of messages with the same Order ID, and numeric and alphanumeric groups of quotations) that will be implemented in the production environment during and after migration to the BM&FBOVESPA PUMA Trading System in the BOVESPA segment. All customers who use the ProxyDiff market data feed must perform the tests by September 28, 2012.

See full IT News letter Nr.14

Source: BM&FBOVESPA, IT News Letter Nr. 14, 17.09.2012

Filed under: BM&FBOVESPA, Brazil, Data Management, Exchanges, Market Data, , , , , , ,

Brazil: Perseus Telecom acquires ETradeLab Brazilen Trading Tech Co

Perseus Telecom, a global connectivity provider, today announces the acquisition of ETradeLab, a Sao Paulo-based financial technology provider of hosting, managed connectivity, order routing and trade monitoring support. The purchase comes at a time of global demand for efficient trading systems with low-latency connectivity and local support models suited for banks, hedge funds and proprietary firms.

The joint company expects to add significant value to its services by tightly integrating them. Combining ETradeLab’s hosting solutions with Perseus’ ultra-low latency networks will provide cost effective, efficient and valuable network solutions for its customers. Anticipating and responding to innovative demands while having pricing sensitivities further led to this agreement.

“Our purchase of ETradeLab shines light on the accelerating market growth in Brazil, Peru, Chile, Panama and Colombia where capital markets require ultra-fast, reliable connections to mitigate risk and to provide worldwide reach,” states Dr. Jock Percy, Chief Executive of Perseus Telecom. “Incorporating ETradeLab into our brand was an easy decision given its expertise in the market and trade monitoring services.”

Effective immediately, Marcos Guimarães, founder of ETradeLab, is President of Perseus Telecom, Brazil. “It is a thrill to be part of Perseus Telecom’s top-tier management team. Perseus brings innovation and high performance networks at fair prices due to its strong portfolio that allow customers to increase revenues while reducing operating costs,” states Guimarães. “The LATAM region’s continuing market growth requires such building blocks for optimum time-to-market and even faster development; Perseus has the DNA to deliver them allied to ETradeLab’s local market knowledge. I’m ready for the challenge and can’t wait to start working with our customers.”

The expansion of Perseus’ Brazilian presence follows its recent Global Telecoms Business award for “Best Innovation,” related directly to building the fastest connectivity from London to BM&F BOVESPA, Brazil. Prior to the award, Perseus announced the fastest route to BM&F BOVESPA with its strategic partner GlobeNet.

“Our recent announcements and awards with regards to Brazil and South America have indicated the firm is taking a permanent and local stake in the region and we have done this with the valuable acquisition of ETradeLab,” says Percy. “We welcome Marcos Guimarães as President of Perseus do Brazil and will continue our path of commitment to providing the lowest latency networks globally whilst delivering intelligent and cost efficiencies.”

Source: LowLatency.c0m, 12.09.2012

Filed under: BM&FBOVESPA, Brazil, Latin America, News, Trading Technology, , , , , , , , , , , , ,

Brazilian Markets Still Driving Low-Latency Connectivity

The Brazilian financial markets – with the Sao Paulo-based BM&F BOVESPA securities market in particular – continue to drive activity among connectivity and infrastructure providers looking to support trading firms looking to take advantage of trading opportunities in a hot market.

Most recently, GlobeNet – which operates a submarine cable from Nasdaq’s Carteret, NJ data centre to BM&F BOVESPA with 106 milliseconds of round-trip latency – reported that is has built out its own network infrastructure within Sao Paulo, connecting in to Florencio de Abreu, 195, a connection point for the exchange.  Previously, it relied on third party telecom providers for the leg within the city.  The new link gives it more control and faster implementation of customer connections.

Meanwhile, Sidera Networks is looking to the future by purchasing bandwidth on Seabras-1, a new 32 Tb/second submarine cable, being built by Seaborn Networks, linking Miami, FL to Sao Paulo.  The network – which Seaborn execs say will be the fastest route, but they are not saying yet by how much – is expected to be operational in the fourth quarter of 2014.  Seaborn execs also say connectivity from Miami to the New York City metro area will also be announced in due course.

Also, back in April, Thomson Reuters opened an Elektron Hosting and Managed Services centre in Sao Paulo, to provide low-latency access to BM&F BOVESPA.

Source: Low-Latency, 12.06.2012 Peter Harris

Filed under: BM&FBOVESPA, Brazil, Exchanges, Trading Technology, , , , , , , ,

Brazil: TRADING SCREEN launches OMS, THOMSON REUTERS offers Elektron Hosting

TradingScreen Inc. launches TradePlus, its order management system (OMS) for the sell side in Brazil.

TradePlus, which will be available globally later this month, integrates all trading infrastructure required by broker dealers through a no-install Software-as-a-Service model.

TradingScreen’s TradePlus clients will benefit from an exchange co-located in a local datacenter and an office in Brazil, which ensures low-latency and the industry leading follow-the-sun support that TradingScreen is known for. TradePlus has seamless integration into the world’s leading execution management system (EMS) for the buy side, TradingScreen’s TradeSmart, ensuring a new level of communication between brokers and their clients.

“Sell-side firms looking to buy an OMS face significant challenges when trying to find a system that will integrate with their buy-side customers,” said TradingScreen CEO Philippe Buhannic. “TradingScreen’s TradePlus provides a significant advantage, because there is integration between both sides right out of the box.”

TradePlus covers the entire workflow from liquidity management, order management, book passing, warehousing, sophisticated trading tools, an algo development environment, allocation management and supports a full integration to local back office and middle office systems while leveraging the TradeNet network distribution capability.

“TradePlus offers an innovative set of hosted exchange links and risk and compliance features that insure a new level of control in a high-volume trading environment. TradePlus also provides a highly sophisticated and efficient method for trading the Brazilian equity and listed derivatives markets, while allowing brokers to give their clients the best EMS in the market,” said Jose Barrera, Director of TradingScreen’s Sao Paulo office. “TradingScreen has the largest number of deployed EMS screens globally, and a deep understanding of the market in Brazil. With this foundation beneath it, TradePlus is the right product at the right place and the right time.”

Thomson Reuters launches  Elektron hosting and managed services in Brazil.

The new service, situated in close proximity to the BM&F BOVESPA exchange, will provide trading firms with cost effective, low latency access to the real-time data required to fuel algorithmic and high-frequency trading strategies in Brazil.

Based in São Paulo, the new Elektron data solution delivers high speed connectivity to BM&F BOVESPA for market participants seeking local liquidity in Brazil, including full depth of market pricing along with US-traded American Depository Receipts (ADRs) and CME futures data. By accessing the Elektron services, either through cross-connecting applications within the data centre or externally through a choice of connectivity options, local firms can consume both low latency local market content as well as global, cross-asset real-time data from over 350 electronic venues and hundreds of OTC market contributors and reference data sources.

Investor interest in the fast-growing Brazilian market has increased rapidly in recent years, driving market liquidity and seeing an expanding number of domestic and international firms adopting algorithmic trading. Elektron Hosting and Managed Services provides the comprehensive, high-quality, real-time data and high-performance delivery required to support these trading strategies and help customers gain competitive advantage.

Mike Powell, managing director, Elektron Hosting and Managed Services, Thomson Reuters, said: “The launch of Elektron in Brazil is a natural extension of our established business in the country and supports our customers’ evolving requirements. With Elektron, we continue to bring together global market participants and deliver world-class content that further empowers these communities. We are delighted to be working with BM&F BOVESPA in Brazil to address the requirements of our collective clients for high-performance, cost-efficient data solutions.”

MondoVisione, 24.04.2012

Filed under: BM&FBOVESPA, Brazil, Exchanges, , , , , , , , , , , , , , ,

Brazils BM&FBOVESPA to aid Chiles Santiago SE (BCS) with Derivatives Knowledge Transfer exchange

BM&FBOVESPA and the Santiago Stock Exchange (BCS) signed an agreement today (April 12, 2012) that sets out the implementation of the Chilean derivatives market at the Santiago Stock Exchange. The agreement provides for the transfer of derivatives market knowledge from BM&FBOVESPA to the Chilean Exchange, encompassing products such as equity, interest rate and FX options and futures.

The alliance between the two exchanges began in December 2010 and other strategic projects are in the pipeline, such as connectivity and order routing and market data distribution in particular.

Source:MondoVisione, 12.04.2012

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

Brazil: BM&FBOVESPA Critical Technology Update April 2012

Deactivation of the UMDF GTS Market Feed

We hereby inform you that with the implementation of the BM&FBOVESPA PUMA Trading System and the availability of the UMDF PUMA market data feed for derivatives, as set forth in External Communication 006/2011-DI, the UMDF (Legacy) GTS market data feed with BM&F segment quotations will be deactivated on April 16, 2012, as announced in External Communication 007/2011-DI. New certification requests have not been accepted for market data solutions in this format since December 16, 2011. However, UMDF GTS will remain available in the certification environment until its deactivation in production.

 HFT Risk Control – LiNe Tool for Controlling Pre-Trading Risk Limits

As of May 1, 2012, use of the LiNe tool will be mandatory for participants who access the Exchange via DMA 4 – Brokerage House Co-Location, as announced in Circular Letter 014/2012-DP.  It is important to note that the Exchange is developing studies to make use of the LiNe tool mandatory for all other forms of access via DMA.

 The Mega Bolsa Station – New Version of Trading Station v. 4.56.0.2

Version 4.56.0.2 ofMega Bolsa Station is available for download from BM&BOVESPA, as announced in External Communication 010/2012-DI.  As a result, the deadline for deactivation of the old version, v. 4.51.5.3, has been postponed until May 2, 2012.
It is important to note that version 4.56.0.2 is compatible with version 4.51.5.3 currently used by brokerage houses.

 When the BM&FBOVESPA PUMA Trading System is launched for the equities market, BM&FBOVESPA will issue a new version of Mega Bolsa Station, which will be designated ePUMA

 EntryPoint

Availability of the EntryPoint certification environment in the BOVESPA segment, in line with External Communication 004/2012-DI
The new EntryPoint trading interface for the BOVESPA segment has been available in the certification environment since January 17, 2012, enabling participants to certify their solutions and use the same order entry protocol that is already available in the BM&F segment. The EntryPoint interface used in the BM&F segment delivers the native market feed from the BM&FBOVESPA PUMA Trading System, whereas the EntryPoint utilized in the BOVESPA segment is converted into the native protocol for the Mega Bolsa system, as in the case of MegaDirect.

Availability for the production environment
Availability for the production environment will be announced during the next few weeks. It is important to note that participants who adopt the new protocol will be benefited by the mitigation of significant impacts when migrating from the BOVESPA segment to the BM&FBOVESPA PUMA Trading System, since the interfaces are compatible.

2012 Mock Trading Session Calendar

The 2012 mock trading session calendar is as follows:

  • May 5: BM&FBOVESPA PUMA Trading System disaster recovery in the BM&F Segment
  • June (date to be defined): BM&FBOVESPA PUMA Trading System critical technology update in the BM&F Segment

September through December (date to be defined): migration from Mega Bolsa platform to BM&FBOVESPA PUMA Trading System in the BOVESPA Segment

 Deactivation of BELL FIX for order entry

BM&FBOVESPA will shortly announce the new pricing policy for BELL FIX and its deactivation date. It is important to note that this interface has been replaced by EntryPoint, but it will be available for market data feeds distributed in the FIX/TCPIP format.

Deactivation of MegaDirect

BM&FBOVESPA will shortly announce the new pricing policy for MegaDirect and its deactivation date. It is important to note that this interface will be replaced by EntryPoint.

Source: BM&FBOVESPA , 10.04.2012

Filed under: BM&FBOVESPA, Brazil, Data Vendor, Exchanges, News, , , , , ,

Brazil: BM&F BOVESPA – March 2012 -News Nr 31

Cross-Listing of Global Benchmark Equity Index, Commodity and Energy Futures
BM&FBOVESPA (BVMF), CME Group and S&P Indices announced on March 6 a cross-listing and cross-licensing agreement involving S&P 500 Index and BOVESPA Index (IBOVESPA) futures.

BRICS Exchanges to Cross-list Benchmark Equity Index Derivatives
The five founding members of the BRICS Exchanges Alliance will begin cross-listing benchmark equity index derivatives on each other’s trading platforms on March 30.

New Market Maker for Options on the Stock of Companhia Siderúrgica Nacional (CSNA3)
BM&FBOVESPA announced on March 20 that Citadel Securities LLC is the third institution selected as market maker for options on the stock of CSNA3.

Volumes and trades by Direct Market Access (DMA)

BM&F Segment (Derivatives)
In February, the transactions carried out via Direct Market Access (DMA) in the BM&F* segment totaled 25,853,695 contracts traded in 2,616,094 trades.

BOVESPA Segment (Equities)
In February, the transactions carried out via Direct Market Access (DMA) in the BOVESPA* segment had a total financial volume of BRL104.5 billion in 14,985,594 trades

MARKET RESULTS

BM&F Segment February 2012 (derivatives)
In February, the markets in the BM&F segment had a total of 47,434,891 contracts traded with a financial volume of BRL3.11 trillion.

BOVESPA Segment February 2012 (equities)
In February, the total financial volume in the BOVESPA segment reached BRL157.36 billion, compared to a total of BRL132.26 billion in January.

Click for detailed announcement

Source: BM&FBOVESPA, 24.03.2012

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

Emerging Markets: Energy or Enigma? Mexico, Brazil & China – Dan Watkins

Emerging market trading strategies should remain closely aligned with inter-country trade relations, or so one would think.

A professional stock investor’s interest in a company, after all, coincides with that company’s vision and operational policies. Would such a metric be appropriate in trading an entire economy? Interestingly, popular opinion leans toward headlines rather than fundamentals as being the key determining factor.

That raises a question: Can a market investor be expected to trade a country’s equity, commodity or currency without being able to derive its true value on a balance sheet?

One would gather from the latest international finance journals that China and its markets dominate the emerging markets dialogue. Sure, China and the U.S. have strong trade programs in place but there are issues such as currency valuation headaches that must be considered.

The BRIC (Brazil, Russia, India and China) countries all have exponential growth potential both short-term and long-term and can be considered underdeveloped vs. their population participation. Capital market returns usually delineate the leader of the pack so among the “fantastic-four” BRIC countries, Brazil reigns supreme.

Brazil has had unrelenting stamina in moving high-energy, high-value energy companies’ stocks higher over the last half decade. One reason for Brazil’s success is its massive capital markets restructuring in policy, participation and innovation. Of course the first thing Brazil had to do was stabilize its currency from its inflation plague so that the Real could sustain itself against economic and political monetary fatigue.

Brazil is on top of asset manager and retirement account lists in equity, equity options, futures contracts and fixed income because of the basis of its economic stability and strong natural resources. So while Brazil has brought equilibrium to its markets, Russia, India and China deal with inflation. But trading Brazil can also be worrisome due to inter-country trade relations with the U.S. being less-than-favorable.

Those issues raise an interesting question: What market doesn’t make the news but is hot, has been hot and continues to sizzle like fajitas-picante?   MEXICO

News stories on Mexico cover drug war violence, immigration and tourism, but is that the end of the story? Washington – and therefore public discourse – has focused on the $100 billion in trade to China over the last year. What most don’t hear is that the U.S. has exported nearly $400 billion to Mexico during the same time period. Compare all BRIC countries with Mexico and Mexico tops them all collectively.

Mexico reached 4 percent annual GDP growth rate last year, helped by direct investments from the U.S. and China. On the day the U.S. Federal Reserve announced that it would maintain its low interest rate policy through 2014, the Mexican peso rose 0.6 percent, marking a 7 percent climb for the month of January. How many other markets can be traded as strongly in response to a U.S. Treasury policy announcement?

If Mexico were to equitize or make public its oil production industry as Brazil has, by publicly trading leading oil company Petroleos Mexicanos, also known as Pemex, for example, a major trade explosion in Mexico’s capital markets would quickly follow. Pemex is a Mexican state-owned company worth over $415 billion – that’s $100 billion in assets more than Brazil’s giant Petrobras.

Mexico worth more than Brazil and China long term? Mexico reaches higher ground four times that in trade over the entire BRIC countries. One of Mexico’s oil companies is four times the size in assets over Brazil’s all-star Petrobras. What’s more, Mexico’s inflation is under 5 percent while Brazil, Russia, India and China all have inflation rates closer to 7 percent.

A reflection of U.S. involvement and stabilizing influence in Mexico can be seen in the Mexican stock market with more than 1,000 symbols, many of which are high value and liquid ADRs from the New York Stock Exchange and Nasdaq OMX.

Why not follow the money? Taking a look at the presence of Wall Street on La Reforma in Mexico City, where the Bolsa Mexicana de Valores (the Mexican Stock Exchange) is, you’ll find BMV members such a Citigroup, JPMC, Credit Suisse, Barclays, Deutsche Bank, Merrill Lynch, HSBC, Scotia, ING and UBS. No small potatoes there.

The top players and astute institutional investors are solidly positioned in Mexico. They monitor and believe they can best forecast movement in the market by keeping an eye on U.S. and Chinese import/exports with Mexico. A closer eye is kept on the cash equity ADRs and the Mexican bond markets. Many investors tend to believe that Mexico is just undervalued and other emerging markets are overvalued. But one more thing to remember, the U.S./Mexico trade policy should provide Mexico with lots of energy to outlast the steam of the emerging markets chatter.

Perhaps we should start thinking about MBRICs?

By Dan  Watkins, CC-Speed (dwatkins@cc-speed.com)

Sourc: TABB Forum, 07.03.2012

Filed under: BM&FBOVESPA, BMV - Mexico, Brazil, China, Exchanges, Mexico, , , , , , , , , , , , , , , , , , ,

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