Americas Trading System Brasil

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Americas Trading System Brasil
ATS Brasil.jpg
Founded 2013
Headquarters Rio de Janeiro
Key People Alan Gandelman, CEO
Products Stock Trading Platform Owned By ATG And NYSE
Website www.americastg.com

The Americas Trading System Brasil (ATS Brasil) is a stock trading platform that plans to launch in 2014, with the goal of becoming the first competitor to Brazil's only stock-exchange operator, BM&FBovespa. [1] ATS Brasil is 80-percent owned by Americas Trading Group (ATG), a Rio de Janeiro-based trading systems operator. Intercontinental Exchange Group Inc.'s NYSE Euronext subsidiary owns the other 20 percent of the venture and provides the technology.[2]

ATS Brasil will use NYSE TechnologiesUniversal Trading Platform, and will operate initially as a so-called organized over-the-counter market. ATS Brasil applied for authorization from Brazil's Securities and Exchange Commission (CVM) in June of 2012 and is awaiting approval of the Central Bank of Brazil.

It's anticipated the venture that may boost trading volumes in Latin America's biggest equity market by 15 percent within its first year of operation.[3]

History

ATG and NYSE Euronext announced plans to launch ATS Brasil in November of 2012.

In September of 2013, ATS Brazil announced a joint venture with Risk Office, a risk consulting and assessment company in Brazil, to create a clearinghouse for the Brazilian capital markets.[4] The clearinghouse will be governed and operated separately from ATS Brasil itself, and it will be based in Rio de Janeiro.

In a February 2014 interview, ATS Brasil CEO Alan Gandelman said that the launch of ATS and other alternative platforms have been hindered by the refusal of BM&FBovespa to act as central counterparty clearer to other entities. Gandelman said ATS is building its own clearing unit, and expects approval by the Banco Central do Brasil by the third quarter of 2014. If approved, ATS Brasil will launch in early 2015.[5]

Products and Services

Key People

References

  1. ATG, NYSE Euronext Plan Trading Venue for Brazilian Equities. Bloomberg.
  2. Press Release. Fidelity.
  3. NYSE, Partner ATG To Create New Trading Platform In Brazil. Reuters.
  4. ATG, Risk Office to Build Clearinghouse in Brazil. waterstechnology.
  5. Challenger ATS Brasil prepares to take on BM&F Bovespa “super monopoly”. Banking Technology.