NYSE, partner to develop liquidity pool for Brazil stocks

RIO DE JANEIRO Mon Nov 5, 2012 11:50am EST

RIO DE JANEIRO Nov 5 (Reuters) - NYSE Euronext and Americas Trading Group joined forces on Monday to create a liquidity pool for Brazilian stocks in the over-the-counter markets.

The venture, which will be named ATS Brasil, will be controlled by ATG, as the Brazilian trading systems provider is known, and will not seek to compete with Brazilian exchange operator BM&FBovespa SA, said Chief Executive Fernando Cohen.

ATS "will work in a complementary way to improve liquidity and pricing of Brazilian assets," Cohen said at a news conference Monday in Rio de Janeiro.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.