Funds and traders in Brazil have shown little interest in the euro-Brazilian real currency futures launched by BM&F Bovespa in February, because of what they regard as faults in the contract’s structure.
The future was developed jointly with CME Group, which bought a 5% stake in BM&F in 2007. BM&F acquired 1.7% of CME at the same time.
The two exchange groups have established mutual order routing links, so that customers of BM&F’s GTS electronic platform can place orders on CME Globex, and...