BATS Global Markets Explores Opportunities in Brazil
Signs Agreement With Key Brazilian Partner, Claritas
KANSAS CITY, Mo., Feb. 15, 2011 /PRNewswire/ -- BATS Global Markets (BATS), a global stock exchange operator, today announced it signed a Memorandum of Understanding (MOU) with Claritas, a Brazilian asset management firm, to explore opportunities in the Brazilian market.
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Under the MOU, the organizations will work together on the potential creation of a new stock exchange with clearing and depository services in Brazil.
"Today's announcement serves as an important initial step in exploring the unique opportunity that exists in the Brazilian market, which has many of the same frictions we've witnessed and overcome in the U.S. and Europe," said Ken Conklin, senior vice president of business development and marketing at BATS Global Markets. "We're pleased to partner with Claritas and FreitasLeite, two leading organizations that understand the needs of the Brazilian marketplace, to further investigate the opportunity."
Carlos Ambrosio, senior partner at Claritas, said, "After thoroughly analyzing the benefits of competition in exchange, clearing and depository services, we are very pleased to have identified BATS as the perfect partner for this challenge. The Brazilian capital markets are ready for access to the best technology in the world, and there is certainly no one better than BATS for the job."
Freitas e Leite Advogados (FreitasLeite), a Brazilian law firm specializing in financial and capital markets, was retained for local legal expertise.
About BATS
BATS Global Markets (BATS) is a global financial markets technology company headquartered in the Kansas City, Mo., area with additional offices in New York and London. Founded in June 2005, BATS operates two stock exchanges in the U.S., the BZX Exchange and BYX Exchange; BATS Options, a U.S. equity options market; and BATS Europe, an FSA-authorised multilateral trading facility in Europe. The BATS technology platform is internally developed by a dedicated core team of market and technology professionals, catering to the needs of the broker-dealer and trading community. BATS ... Making Markets Better. For more information, please visit www.batstrading.com.
About Claritas
Established in 1999 and headquartered in Sao Paulo, Brazil, Claritas is a leading asset manager in Brazil. Claritas was founded by a group of seasoned professionals with extensive experience in local and foreign investment banks and trading in Brazilian assets/markets. The privately-owned company manages a wide array of Brazilian alternative investment products and strategies including long only equities, macro fund of funds, asset-backed securities, private equity and structured products. For more information, please visit http://www.claritas.com.br.
About Freitas e Leite Advogados (FreitasLeite)
FreitasLeite was established in Sao Paulo in 1996 by a group of highly qualified partners and associates from Brazil's leading law firms and financial institutions. FreitasLeite is most known for its significant expertise in a variety of matters related to financial and capital markets, advising and representing Brazilian and foreign clients. The firm's practice also covers corporate matters, corporate finance, mergers and acquisitions and taxation. For more information, please visit http://www.freitasleite.com.br/.
SOURCE BATS Global Markets
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