BM&F Bovespa links up to BT Radianz Cloud
BT Radianz will connect to Sao Paulo’s BM&F Bovespa in Brazil
Brazilian exchange BM&F Bovespa has joined the BT Radianz Cloud, a financial community that connects 500 member locations in Latin America with BT’s global network.
BT Radianz is a system that consists of specialist network services, ultra-low latency connectivity and managed hosting, as well as encryption and secure messaging services. It is used for banking services such as payments, and for accessing financial markets and order routing.
Based in Sao Paulo, BM&F Bovespa is the stock exchange and derivatives market for Brazil. It is by far the largest exchange in Latin America, and second only to the CME Group in the whole of the Americas, if NYSE Eurnext EU activities are discounted.
The service should allow BM&F Bovespa to distribute its new unified market data feed globally, providing international investors with real-time quotes, traded prices and index values from Brazil. The information covers derivatives, futures, options on futures, forwards, private bonds, cash equities, exchange-traded funds and options on equities as well as BM&F Bovespa’s indexes.
BM&F Bovespa has been investing heavily in its trading infrastructure in recent years. Last month, it moved its equities segment onto the new Puma trading engine; the exchange has also made strenuous efforts to build up a strong co-location system to attract high-frequency traders. Meanwhile, BT Radianz has expanded its operations in Latin America by recruiting 250 staff to cover the region and by launching 30 new products.
Last year, Brazil saw more trading volumes driven by Europe than the US for the first time in its history, according to figures provided by research firm Aite Group. Meanwhile, the removal of a stamp tax in Brazil late last year has prompted a significant uptick in liquidity in a country that has already become a byword for growth in recent years, according to Danielle Tierney, senior analyst, Americas at Aite.
“Banks, brokers and investment firms around the world are seeking new routes to reach into Latin America,” said Tom Regent, president, global banking and financial markets at BT Global Services. “Likewise, Latin American financial institutions and ‘multilatinas’ are rolling out ambitious strategies for globalisation. With a growing number of local exchanges and market participants joining the BT Radianz Cloud community, we have an important role to play in making this happen and we welcome BM&F Bovespa to this community.”
