ATS Brasil looks to challenge Bovespa

06/20/2013 | Reuters

American Trading Systems Brasil is seeking permission to launch an exchange in Brazil, putting it in competition with BM&FBovespa. "We are working with a lean, spartan structure that aims at producing very attractive margins and helps investors diversify their trading platforms," ATS Brasil CEO Alan Gandelman said. The exchange, which would start out by offering trading in exchange-traded funds and cash equities before moving on to equity derivatives, would be complemented by a clearinghouse, Gandelman says.

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