Patsystems will now provide direct market access, for both local and international participants, to Latin America’s largest exchange, BM&F, the derivatives segment of BM&FBOVESPA. Patsystems is now a certified ISV.
As well as direct access, Patsystems also offers access to BM&F products via CME Globex, the electronic trading platform of CME Group. This link allows existing CME Group customers to trade the main BM&F derivatives contracts listed on the Globex platform.
All BM&F segment products will be available through Patsystems 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 in a release, “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.”