BM&F Bovespa, the Brazilian stock and derivatives exchange, is working with SunGard to widen automated clearing for its financial and agricultural derivatives. The move is intended to make it easier for US futures commission merchants (FCMs) to access the Brazilian market.
From the second quarter of 2010, US FCMs will be able to use SunGard’s one-stop GMI platform to process and clear trades on BM&F. The GMI system also helps with post-trade accounting.