IntercontinentalExchange and Cetip Enter Agreement to Develop Brazilian Debt Trading Platform
ATLANTA, April 26, 2012 /PRNewswire/ — IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced the completion of an agreement with Cetip, S.A. (BOVESPA: CTIP3) to develop and deliver a new fixed income trading platform to be offered by Cetip for Brazilian corporate and government bonds.
The platform is expected to be launched in the second half of 2012. Cetip is responsible for product strategy and the promotion of usage in Brazil. ICE is developing the technology.
“ICE is pleased to deepen our relationship with Cetip and build on our presence in Brazil,” said ICE Chief Strategic Officer David S. Goone. “Through this partnership we are combining Cetip’s leadership in fixed income markets together with ICE’s technology and experience in building liquid, transparent markets to bring more liquidity and depth to the bond markets in Brazil.”
Cetip CEO Luiz Fernando Fleury said, “The choice to select ICE came not only from the fact that they are a globally recognized company, but also because of their outstanding technology and OTC market expertise. A major reason for this partnership is ICE’s demonstrated ability to successfully deliver liquidity and pricing transparency in other less liquid markets, similar to the scenario we currently have with our local corporate debt. The speed with which they can deliver the product to our market was another key factor.”
Cetip is a publicly traded company and is Brazil’s largest clearing house, as well as the leading operator of registration and custodial services for securities, fixed-income bonds and OTC derivatives.
IntercontinentalExchange (NYSE: ICE) is a leading operator of regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts. ICE Futures Europe hosts trade in half of the world’s crude and refined oil futures. ICE Futures U.S. and ICE Futures Canada list agricultural, currencies and Russell Index markets. ICE is also a leading operator of central clearing services for the futures and over-the-counter markets, with five regulated clearing houses across North America and Europe. ICE serves customers in more than 70 countries. www.theice.com
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