November 5, 2012 / 4:50 PM / 5 years ago

NYSE, partner to develop liquidity pool for Brazil stocks

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.

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