Bonds News

Brazil's Cetip in talks with Germany's Clearstream

SAO PAULO, Feb 12 (Reuters) - Brazil clearinghouse Cetip CTIP3.SA said on Friday it is in strategic cooperation talks with Deutsche Borse AG's DB1Gn.DE Clearstream.

CETIP is the largest custodian of corporate fixed income securities in Latin America.

The possible deal will include joint development and distribution of collateral management services Cetip offers to its participants, Cetip said in a statement to securities regulator CVM.

Clearstream is a leading securities depository.

Cetip shares closed 0.6 percent higher on Friday, while Brazil's benchmark Bovespa stock index .BVSP fell 0.4 percent. (Reporting by Daniela Machado; writing by Raymond Colitt; editing by Andre Grenon)