|[January 10, 2011]
FlexTrade Partners with BM&FBOVESPA in Brazil
GREAT NECK, N.Y. --(Business Wire)--
FlexTrade Systems, a global leader in broker-neutral multi-asset
algorithmic trading systems, and BM&FBOVESPA, the third largest exchange
in the world in terms of market value, today announced they have
partnered to provide direct access to BM&FBOVESPA's new multi-asset
trading platform through FlexTrade's award winning execution management
The partnership will also include a new FlexTrade data center co-located
at the BM&FBOVESPA to provide traders with a high performance, low
latency order routing and execution path for equities and futures listed
on the exchange.
"We are looking forward to building a strong relationship with the
BM&FBOVESPA," said Vijay Kedia, President and CEO of FlexTrade. "We have
been active in Brazil for more than two years now and have both buyside
and sellside customers using our system to trade DMA and algorithmically
with the BM&FBOVESPA. We are fully committed to the Brazilian financial
markets and this partnership will enable both parties to offer the
latest in cutting-edge, fully hosted low latency technology for DMA and
customizable algorithmic trading."
"BM&FBOVESPA is very pleased with this partnership, which will
contribute to the growth of our market. This partnership is aligned with
our goal to offer advanced technological solutions for our customers,"
said Cicero Augusto Vieira, BM&FBOVESPA Chief Operating Officer.
Algorithmic trading is the touchstone of FlexTRADER, a fully
customizable EMS with pre-defined trading strategies and tactics for
both portfolio and single stock trading. The platform provides
organically developed real-time and post-trade analytics as well as risk
and cost optimized portfolio trade scheduling (FlexPTS);
advanced integrations with major OMSs; integrated real-time allocations
and cash management; smart order routing; a fully integrated high
performance Complex Event Processing (CEP) engine; commission
management; complete transaction and IOI quality management (FlexTQM);
and a dynamic strategy matrix.
BM&FBOVESPA S.A. - Securities, Commodities and Futures Exchange was
created in 2008 with the integration between the Brazilian Mercantile &
Futures Exchange (BM&F) and the São Paulo Stock Exchange (Bovespa).
Together, the companies have formed the third largest exchange in the
world in terms of market value. BM&FBOVESPA offers trading in equities
on the cash, options and forward markets, and indices, interest rates,
foreign exchange, agricultural and energy commodities on the futures,
options, forward and swap markets, as well as other spot market
transactions on gold, US Dollar and federal government securities. In
order to provide investors with efficient and secure services,
BM&FBOVESPA utilizes state-of-the-art technology. With its fully
integrated business model BM&FBOVESPA is able to offer not only a
sophisticated trading environment, but also registration, clearing,
settlement, risk management, and central depository services. It also
acts as the central counterparty for all of the transactions carried out
in its markets by way of its four clearinghouses: equities, derivatives,
securities, and foreign exchange. For more information, please visit
BM&FBOVESPA at www.bmfbovespa.com.br.
About FlexTrade Systems, Inc.
Founded in 1996, FlexTrade Systems Inc. is the industry pioneer and
global leader in broker-neutral algorithmic trading platforms for
equities, foreign exchange and listed derivatives. FlexTRADER, our
flagship platform for algorithmic trading, is widely viewed as unique in
the industry for its combined high performance and multi-asset
capability. With offices in North America, Europe and Asia, FlexTrade
has a worldwide client base spanning more than 120 buy- and sell-side
firms, including many of the largest investment banks, hedge funds,
asset managers, commodity trading advisors and institutional brokers.
For more information, visit FlexTrade Systems at www.flextrade.com
or follow news of the company on Twitter at www.twitter.com/flextrade.
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