Cross Holdings in American Exchanges

BM&FBovespa (an equities and derivatives exchange based in Sao Paulo) is raising its stake in Chicago's CME to 5% (CME already owns 5% of BM&FBovespa). As a result BM&F will sit on CME's board and the two exchanges will marshal a workforce of 150 developers to create a new multi-asset trading platform, with commercial rights in Latin America given to BMFB and CME owning rights to the rest of the world. BM&F used NYSE Euronext Advanced Trading Solutions to help develop its trading platform.