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Brazil To Launch ETF Trading Platform

The Brazilian government and banks are in talks to set up a trading platform for global ETFs, said Saulo Mendes, head of Brazilian capital markets for BlackRock.

The Brazilian government and banks are in talks to set up a trading platform for global ETFs, said Saulo Mendes, head of Brazilian capital markets for BlackRock, Reuters reports. Itau Unibanco and investment-banking industry group, Anbima, are in talks with securities regulator, CVM, to simplify rules that ban trading of the instruments.

Regulators will be required to approve the structure of the global ETFs to allow their trading in Brazil, said Mendes. BlackRock currently manages six Brazilian ETFs jointly with BM&FBovespa.

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