Industry Seeks Alternative Access to Brazil As CME, BM&F End Data, Order-Routing

Connectivity providers vie to capitalize on demand for access to the Brazilian market after exchanges end historic data-sharing and order-routing arrangement.

CME Group has ceased providing access to market data from—and order routing to—Brazilian exchange BM&F Bovespa, effective end of day Friday, Oct. 28, ending a process by which US firms were able to access BM&F market data via a channel on CME’s Globex platform.

The nine year-old agreement between the exchanges helped BM&F gain exposure and grow its business with US firms, using their existing connectivity to Globex, while also providing access to CME data in Brazil (IMD, Sept. 29, 2008). Officials say this was so successful in driving trading to BM&F that clients pursued more direct access, and the CME-BM&F connectivity is no longer needed. “Since we…
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