Brazil stock exchange and futures-market operator BM&FBovespa SA said Tuesday that it is in preliminary talks to combine its operations with a local clearing house known as Cetip.
“At this point, no proposal has been presented regarding the economic or shareholder structure, or any other terms and conditions of such a potential transaction,” BM&FBovespa said in a statement, highlighting that at this moment, “there can be no assurances that such discussions will lead to an offer or a transaction of any kind.”
BM&FBovespa was created at the end of 2008 from the merger of BM&F, the local commodities and futures exchange, and Bovespa Holding, the company that owns and manages the Brazilian Stock Exchange.
Cetip is Latin America’s largest depositary of private fixed-income securities and Brazil’s largest private asset clearinghouse, according to the company’s website.
Full content: Reuters
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