Brazilian Mercantile & Futures Exchange (BM&F) and Bovespa Holding, which owns Brazilian Stock Exchange, have entered into exclusive negotiations that would combine the national equities and derivatives markets.
The move comes less than thee months after BM&F went public, raising 5.98bn reals ($3.4bn). The futures exchange, the eighth largest globally in terms of volume, also has two prominent minority investors. General Atlantic bought a 10%...