U.S. stock exchange Direct Edge is looking to set up an electronic trading platform for Brazilian equities. Direct Edge Brazil, majority-owned by Direct Edge, will function as an independent, local company. The move is spurred by the growing Brazilian economy.

The bourse will be headquartered in Rio de Janeiro and may be launched in the last quarter of 2012. The exchange will use Direct Edge technology and architecture tailored to meet the Brazilian market needs.

Click here for the release from GlobeNewswire.