Americas Trading System Brasil (ATS Brasil) plans to open as a stock exchange in Brazil next November with partner firms to be announced within weeks, the CEO of the upstart said on Thursday. ATS Brasil will be the first competitor to Brazil's sole stock-exchange operator, BM&F Bovespa, and aims to secure a 15 percent market share in Brazilian equities trading within two years of operating, said Alan Gandelman, ATS Brasil's chief executive. Within three years, the exchange aims to enter the corporate listings business and may even go public itself, he said.The joint-venture between Rio de Janeiro-based trading systems operator Americas Trading Group (ATG) and NYSE Euronext, now owned by IntercontinentalExchange (ICE), filed to become an exchange with Brazilian regulator CVM in June. It expects regulatory approval to be granted in February.The launch of the exchange is planned for November 2014, and will coincide with the opening of a new Brazil-based clearing house being formed by ATG. ATG has an 80 percent stake in ATS Brasil.ATS Brasil may move into derivatives trading in the future, but right now it is solely focused on cash equities, where it plans to be "very aggressive" on lowering trading costs, which are on average 15 times higher in Brazil than in other major markets, Gandelman said.
NYSE Euronext, is a global operator of financial markets and provider of trading solutions. Shares of NYX remained unchanged at $45.29. In the past year, the shares have traded as low as $22.25 and as high as $46.28. On average, 1669640 shares of NYX exchange hands on a given day and today's volume is recorded at 0.
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