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Thursday, February 17, 2011

BM&FBovespa, Shanghai set for venture talks

Brazil's BM&FBovespa (BVMF3.SA) and China's Shanghai Stock Exchange are about to sign an agreement that could lead to joint ventures between two of the world's largest exchange operators. The announcement on Thursday by BM&FBovespa, the world's fourth-largest operator, comes after a frenzied week of announced mergers that show bourses are aggressively strengthening global ties in the face of competition at home. The Brazil- and China-based companies would sign a memorandum of understanding (MOM) on Monday, BM&FBovespa said in a securities filing. "The objective (is) to initiate a common discussion about business opportunities and exchange information," it said.