BATS Global Markets is in talks with Brazilian asset manager, Claritas, about creating a new stock exchange in Brazil, Financial Times reports. Both the companies have signed a deal to explore the formation of a new trading platform with its own clearing and depository services.
Sao Paulo-based law firm, Freitas e Leite Advogados, will advise BATS and Claritas on their exchange discussions, adds Bloomberg. The Missouri-based exchange operator, BATS, which is owned by a group of its users, including Bank of America and Citigroup, is also engaged in takeover talks with Chi-X Europe.
Click here for the story from Financial Times.
Click here for additional coverage from Bloomberg.