UPDATE 1-BM&FBovespa seeks Latin America bourse stakes, to launch ETFs

martes 12 de mayo de 2015 13:05 GYT

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SAO PAULO May 12 (Reuters) - BM&FBovespa SA, Brazil's sole listed exchange, wants to expand further across Latin America, following the purchase of an 8 percent stake in Chile's Bolsa de Comercio de Santiago, Chief Executive Officer Edemir Pinto said on Tuesday.

Similar stake purchases will continue, Pinto said at an event in São Paulo. Late last year, Pinto said BM&FBovespa had plans to become a minority shareholder in bourses in Argentina, Mexico, Colombia, Chile and Peru.

His remarks underscore a trend among the world's largest exchanges, which are building up stakes in some rivals to tap into the potential of some of the world's fastest-growing capital markets. CME Group Inc, which owns a stake in BM&FBovespa, and Nasdaq OMX Group Inc are among bourse operators increasing their footholds in Latin America and Asia.

Apart from the strategic partnerships with regional peers forged through the stake purchases, São Paulo-based BM&FBovespa wants to create more exchange-traded fund products in the risk management, real estate, commodities and fixed-income markets in coming months that could also be traded in other markets.

On Tuesday, Pinto announced the creation of five indexes jointly with S&P Dow Jones Indices that will set the basis for the creation of ETFs. The indexes will measure the performance of shares traded in the São Paulo Stock Exchange based on several risk management metrics.

S&P Dow Jones Indices, or S&P DJI, is a joint venture between McGraw Hill Financial Inc, CME and News Corp that was launched in 2012.

BM&FBovespa is considering launching futures contracts linked to inflation readings in Brazil by June and depositary receipts for companies traded in other Latin American countries by year-end, said Eduardo Guardia, the bourse's senior vice president for products. (Reporting by Aluísio Alves; Writing by Guillermo Parra-Bernal; Editing by Phil Berlowitz)