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BM&F Bovespa Approves Cedro Market & Finances as DMA Provider

Permits investors to access the exchange's electronic trading platform without transmitting data through the broker's network.

The Brazilian Securities, Commodities and Futures Exchange — BM&F Bovespa— has authorized Cedro Market & Finances to act as a provider of direct market access (DMA) for BM&F’s derivatives markets. As of August 19th, Cedro Market & Finances will offer its clients an order routing system that allows direct trading of financial and agricultural derivatives traded at the exchange.

DMA permits investors to directly access the exchange’s electronic platform, GTS, without have to transmit the data through the brokerage house’s network, according to the release. The client connects to BM&F Bovespa’s system through the authorized provider. The connection between the investor and the exchange, however, is monitored by the brokerage house that provided the access so as to enable it to control the customer’s order flow, noted the release.

Cedro Market & Finances — a financial markets technology provider — is the first Brazilian company authorized to act as a DMA provider. With the authorization of Cedro, BM&F Bovespa now has three access providers for the derivatives and futures markets. In January, Marco Polo Networks began offering the service, and, in May, Bloomberg Tradebook did as well.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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