The move signals yet more demand for enhanced, local trading capacity in emerging markets.
Atlanta-based futures exchange operator IntercontinentalExchange (ICE) has announced it has agreed to partner with Brazilian clearinghouse and custody provider Cetip S.a. to build a new fixed-income trading platform, which will offer Brazilian corporate and government bonds.
Under the agreement, the Brazilian firm will develop product strategy and promotion while ICE will provide technological expertise, with the new platform expected to be operational in the second half of 2012.
"Through this partnership we are combining Cetip's leadership in fixed-income markets together with ICE's technology and experience in building liquid, transparent markets to bring more liquidity and depth to the bond markets in Brazil," says ICE chief strategic officer David Goone.
Cetip officials also cite other effective ICE engagements in emerging markets for the choice. "A major reason for this partnership is ICE's demonstrated ability to successfully deliver liquidity and pricing transparency in other less liquid markets, similar to the scenario we currently have with our local corporate debt. The speed with which they can deliver the product to our market was another key factor," says Cetip CEO Luiz Fernando Fleury.
More from Sell Side Technology
Updating your subscription status
Voting now open -- WATERS RANKINGS 2013
Our 11th annual survey is now open and you get the chance to choose your best solutions and technology providers. Waters Rankings 2013 features 26 hotly contested awards - so have your say.
21 May 2013
21 May 2013
19 Jun 2013
27 Jun 2013
Complex, dated and unwieldy data infrastructure is not uncommon among even the most progressive companies in the world of finance. As financial regulations...
With the launch of a new legal entity identifier (LEI) looming, the financial services industry needs to get ready to ensure efficient and timely implementation...