Exchanges See Data Revenues Rise

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São Paulo-based exchange BM&F Bovespa reported quarterly revenues of R$ (Brazilian real) 475.6 million ($203.9 million) in the fourth quarter of 2013, down 4.7 percent from Q4 2012, as a result of lower volumes traded in equities as well as financial and commodities derivatives. However, market data sales rose 5.0 percent year-on-year to R$17.1 million ($7.3 million), attributed in part to the depreciation of the Brazilian Real against the US dollar, since almost half of BM&F Bovespa’s data reve