Brazilian Exchange and Chi-X Global Certify Chi-FX
by
Adil Siddiqui
The much awaited Chi-FX trading platform was granted formal acceptance by Brazil's main stock exchange and Chi-X Global as overseas investors can trade in Brazilian markets without the concern of currency risk.
Brazil's premier stock and derivatives Exchange , BM&FBovespa, and Chi-X Global have completed the formal acceptance of Chi-FX the new Trading Platform which will allow overseas investors to trade in Brazilian financial instruments without having currency risk.
The new platform called Brazil Easy Investing (BEI) is powered by Chi-FX technology. According to data on the BM&FBovespa website, foreign investors account for 42% of total market share in the Brazilian markets. BEI will allow both retail and institutional investors trading outside LATAM's most populous nation to trade in financial instruments denominated in their local currency, thus avoiding exposure in the real.
"This is a major milestone for our Chi-FX platform" said Tal Cohen, CEO of Chi-X Global in a statement. "Brazilian market participants will be able to offer their off-shore clients an automated solution for trading Brazilian equities with embedded FX rates, thereby reducing latency, broadening access and minimizing currency risk for international investors. This is an exciting time for Chi-FX and we will be exploring new opportunities to expand the platform throughout Latin America."
Cicero Vieira Neto, COO of BM&FBOVESPA commented in the official press briefing: "The Chi-FX platform is now certified for commercial use. BM&FBOVESPA is in the process of completing the additional steps necessary to have BEI ready for participant certification and then full production use. We are looking forward to the launch of BEI, which coupled with the recent changes to the CPF registration process, will represent a significant step in the ongoing development of the Brazilian capital market and facilitated access to non-resident investors."
Brazil's financial markets are set for major changes, the acceptance of Chi-X and the recent launch of ATS signify crucial reforms in the country, the monopoly held by BM&FBovespa is set to be challenged. The average daily trading volume in Brazilian equities in May was $3.53 billion.
The Brazilian real, like other emerging market currencies has been suffering against the greenback. Earlier this month the real slid to a four year low, the government re-acted by lifting the foreign exchange derivatives tax of 1% in an attempt to balance the flow of dollars entering the nation.
Brazil's premier stock and derivatives Exchange , BM&FBovespa, and Chi-X Global have completed the formal acceptance of Chi-FX the new Trading Platform which will allow overseas investors to trade in Brazilian financial instruments without having currency risk.
The new platform called Brazil Easy Investing (BEI) is powered by Chi-FX technology. According to data on the BM&FBovespa website, foreign investors account for 42% of total market share in the Brazilian markets. BEI will allow both retail and institutional investors trading outside LATAM's most populous nation to trade in financial instruments denominated in their local currency, thus avoiding exposure in the real.
"This is a major milestone for our Chi-FX platform" said Tal Cohen, CEO of Chi-X Global in a statement. "Brazilian market participants will be able to offer their off-shore clients an automated solution for trading Brazilian equities with embedded FX rates, thereby reducing latency, broadening access and minimizing currency risk for international investors. This is an exciting time for Chi-FX and we will be exploring new opportunities to expand the platform throughout Latin America."
Cicero Vieira Neto, COO of BM&FBOVESPA commented in the official press briefing: "The Chi-FX platform is now certified for commercial use. BM&FBOVESPA is in the process of completing the additional steps necessary to have BEI ready for participant certification and then full production use. We are looking forward to the launch of BEI, which coupled with the recent changes to the CPF registration process, will represent a significant step in the ongoing development of the Brazilian capital market and facilitated access to non-resident investors."
Brazil's financial markets are set for major changes, the acceptance of Chi-X and the recent launch of ATS signify crucial reforms in the country, the monopoly held by BM&FBovespa is set to be challenged. The average daily trading volume in Brazilian equities in May was $3.53 billion.
The Brazilian real, like other emerging market currencies has been suffering against the greenback. Earlier this month the real slid to a four year low, the government re-acted by lifting the foreign exchange derivatives tax of 1% in an attempt to balance the flow of dollars entering the nation.
Devexperts Teams Up with nuam Exchange to Boost Equity and Derivatives Trading
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
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The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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