BM&FBovespa and Cetip Join Forces, Combine Operations

Clients will be able to use over-the-counter (OTC) or exchange-traded derivatives with the same central counterparty. The new company will offer increased revenue diversification and give custodians, bookkeepers, asset managers and brokerages the chance to consolidate their back-office and treasury systems and processes, which will lower operating costs.

"Together, BM&FBovespa and Cetip have become a much larger company than the sum of their parts, with substantial benefits for the users of the services of both," said BM&FBovespa CEO Edemir Pinto, in a statement. "The integration of activities significantly reinforces the business model of the new company, making it more comprehensive for facing a dynamic and internationally more competitive market environment."