Patsystems is pleased to announce that it is now a Certified ISV for BM&F, the derivatives segment of BM&FBOVESPA, Latin America’s largest exchange. Patsystems will provide direct market access to the exchange for both local and international participants.
As well as direct access, Patsystems also offers access to BM&F products via CME Globex®. This link allows existing CME customers to trade the main BM&F derivatives contracts listed on the Globex® platform.
All BM&F segment products will be available through Patsystems industry-leading front-ends, J-Trader and Pro-Mark, and risked by Patsystems pre-trade System and Risk Administration (SARA) module. User permissions are defined via SARA, which specify the order types a user can apply and risk limits are defined within SARA, along with appropriate threshold values for issuing alerts.
Patrick Kenny, managing director and Officer, Patsystems said:
“Patsystems recognizes Brazil’s importance in the global marketplace and we have therefore invested accordingly. Brazil has one of the fastest growing economies in the world, with BM&FBOVESPA emerging as the world’s seventh largest derivatives exchange. Our existing customers want access to this market and, of course, we hope to attract local financial firms as well. In order to provide the local institutions with a viable solution we knew it was necessary to offer a direct, low-latency connection to exchange with a sophisticated pre-trade risk management tool.”
According to Bloomberg and other news sources, banks have agreed to use a clearinghouse for credit derivatives in the EU in attempt to appease regulators before legislative is put in place for the bilateral trading market.