14 May 2009

BM&FBovespa Proceeding With Chile Trading Plans, Oliveira Says

By Nathan Gill
     May 14 (Bloomberg) -- Paulo de Sousa Oliveira Jr., chief business development officer of BM&FBovespa SA, Latin America’s largest exchange, comments on plans to integrate with Chile’s stock exchanges. Oliveira spoke in Spanish to reporters in Santiago today.

On plans to integrate with Chile’s exchanges:
     “The idea we have is that a Chilean investor could access the Brazilian exchanges through the network the exchange has here.
     “In Santiago we are going to put a hub that has all of the information that the Brazilian exchange has, derivatives, stocks, so that people can access them.
     “The technological condition of being connected to the market could happen this year.”

On whether the global economic crisis will postpone integration:
     “The crisis isn’t a factor for postponement. On the contrary, the crisis intensifies the sense of opportunity so something has to be done now.”

On the integration of Latin America’s other exchanges:
     “If investors want direct access we are going to put communication hubs in the principal cities of Latin America.
     “The idea is to begin with Chile and Colombia. We are also talking with Peru.
    “We also have Mexico and Argentina on the table, but in Argentina the issue of the crisis there could delay this process a little. With Mexico and the part with equities “we could move forward a little faster.”