NASDAQ OMX Group has signed a commercial contract with BM&FBovespa, the Brazilian securities, commodities and futures exchange, regarding global distribution of market data and the provisioning of NASDAQ OMX products and corporate services to public companies in Brazil.
NASDAQ OMX separately advised BM&FBovespa of its intention to develop a communications system to facilitate the routing of orders between participating brokers located in the US and Brazil.
NASDAQ OMX has said that it would continue to collaborate with BM&FBovespa on other strategic opportunities such as potential technology cooperation. However, the launch of a communications system by a technology subsidiary of NASDAQ OMX will be subject to any required regulatory approvals and other customary conditions.
Bob Greifeld, CEO of the NASDAQ OMX Group, said: “We believe our agreement with the BM&FBOVESPA is a strong blueprint for how global exchanges can cooperate and leverage their global networks, key assets and the benefits of their geography. We are very pleased to formalize our relationship with BM&FBOVESPA through a contract that we are confident will open up new revenue streams and opportunities for both companies and investors.
“NASDAQ OMX is also pleased to launch a high-speed connectivity service for US and Brazilian brokers. With agreements such as this one we will provide benefits to investors by enhancing global market transparency and access to corporate governance services on multiple continents.”
