The formal request to approve ATS Brasil for trading in 2014 also includes provisions for the admission of new liquidity providers to the joint venture (JV).
ATS Brasil has been established as a JV between Americas Trading Group (ATG), the major shareholder and US based exchange operator NYSE Euronext as minor shareholder.
Alan Gandelman has been named as CEO of ATS Brasil and he will be accountable for leading the launch of the exchange as well as its development and strategic direction.
The proposed exchange will operate leveraging trading solutions developed and installed by NYSE Technologies, the technology business of NYSE Euronext.
ATS Brasil CEO Alan Gandelman said "It is intended to support meaningful cost reduction while offering significant efficiency gains to investors, further positioning Brazil amongst the world’s most attractive markets."
Customization of the core trading technology for ATS Brasil has already been completed by NYSE Technologies and is now being tested for functionality and global connectivity capabilities.
ATS Brasil, which has been built on the Universal Trading Platform (UTP), is scheduled to start operations in 2014, pending the approval of Brazilian regulatory authorities.
