ABN AMRO Clearing has been admitted as a carrying broker and clearing member of the derivatives segment on the Brazilian exchange BM&F/Bovespa and cleared its first transaction earlier this year.
The Netherlands-based ABN AMRO Clearing has been providing access to the Brazilian market through a local partner for its clients since 2013.
“The approval of the clearing membership for derivatives is an important step in establishing ABN AMRO Clearing as a local intermediary,” the group announced.
“Acting as a direct participant in the market infrastructure creates processing efficiencies and permits the bank to offer competitive pricing to its clients.”
“The clearing of Brazil derivatives seamlessly fits into our global clearing offering,” said Jan Bart de Boer, chief commercial officer at ABN AMRO Clearing. “It delivers capital efficiencies to our clients and allows them to improve their leverage capacity and optimise their need for collateral. ABN AMRO Clearing will continue to improve its services for its clients’ needs and make them globally more competitive.”
ABN AMRO Clearing currently services clients on more than 160 exchanges, multilateral trading facilities (MTFs), dark pools and FX liquidity centres. The group said that guided by client demand it would continue to invest to extend its offering in both exchange traded and OTC products and covering additional execution venues relevant to grow its clients’ business.
BM&F/Bovespa was created by the May 2008 merger of the Brazilian Mercantile and Futures Exchange (BM&F) and the São Paulo Stock Exchange (Bovespa).
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