Brazil Rules EM Debt Trading: EMTA

Brazilian instruments were the most frequently traded overall, at $225bn in turnover, according to traders’ association EMTA. However their volume represents a 25% decrease on the $294bn seen in Q2 2012. Mexican assets were the second most traded in EM, at $195bn. EM debt trading volume increased 12%, climbing to $1.59trn from the $1.41trn seen during the corresponding period in 2012. Trading in local market instruments continued to represent a large chunk of the volumes, comprising $1.04trn, or 65%, of the total in the second quarter, marking a 5% increase from the $939bn seen during the same period in 2012. Brazilian instruments were also the most frequently traded local market EM debt instruments, at $166bn, followed by Mexico at $152bn.