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4 months ago
BM&FBovespa, Cetip to grant access to rivals in Brazil exchange market
March 22, 2017 / 4:53 PM / 4 months ago

BM&FBovespa, Cetip to grant access to rivals in Brazil exchange market

1 Min Read

SAO PAULO, March 22 (Reuters) - Bourse BM&FBovespa SA will create a committee to monitor product and pricing and allow rival access to proprietary clearing and settlements platforms, as part of an accord that helped it win Brazil approval of rival clearinghouse Cetip SA Mercados Organizados's takeover on Wednesday.

In a securities filing, BM&FBovespa and Cetip said the measures are part of a so-called concentration control accord, which allowed it to gain approval of the 12 billion-real ($3.9 billion) deal. Antitrust watchdog Cade approved the deal under restrictions included in the accord. (Reporting by Guillermo Parra-Bernal and Bruno Federowski; Editing by Chizu Nomiyama)

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