Bovespa Challenger Plots Clearinghouse

Americas Trading Group (ATG) has joined with risk manager Risk Office to create a new clearinghouse in Brazil, ATG says, a step in ATG’s plan to launch a second Brazilian stock exchange next year. The pair’s joint venture will provide the full range of clearing and settlement services for transactions. The lack of access to such a platform was seen as a potential obstacle to the creation of another exchange. ATG and NYSE Euronext announced plans last year for the exchange, to be called ATS Brasil, and await approval of the CVM regulator. Risk Office and ATG will claim to be in “advanced negotiations” with a third investor to become a partner in the clearinghouse, to be based in Rio de Janeiro.