Brazilian business leaders, including Eike Batista, will roll out an energy and futures exchange on April 12, Reuters reports, citing Valor Economico. The BRIX exchange will utilize the electronic platform of the IntercontinentalExchange, which already provides access to its trading system in the U.S. to Brazilian users. Only short-term bilateral contracts will be traded in the exchange. It may expand to include long-term bilateral agreements and then multilateral deals, including those found in conventional futures exchanges.
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