BM&FBovespa and the Chicago Mercantile Exchange Group have signed a memorandum of understanding to jointly develop a multi-asset class trading platform.
agreement was announced to BM&F shareholders on
February 12. The Brazilian exchange group's investment in the
project is estimated at $175m over ten years.
The new electronic platform, to be based on CME's Globex
technology, will have the capacity to process transactions in
less than one millisecond, the bourses said. Both exchanges
will have the right to make commercial use of the new system,
with BM&F free to market it in South America, Central
America, Mexico and China. They will share all revenues.
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