IntercontinentalExchange, Cetip plan Brazilian bond trading platform

By Tali David

Minneapolis, April 26 - IntercontinentalExchange announced an agreement with Cetip, SA to develop a new fixed-income trading platform to be offered by Cetip for Brazilian corporate and government bonds, according to a press release.

"ICE is pleased to deepen our relationship with Cetip and build on our presence in Brazil," IntercontinentalExchange chief strategic officer David S. Goone said in the release.

"Through this partnership we are combining Cetip's leadership in fixed-income markets together with ICE's technology and experience in building liquid, transparent markets to bring more liquidity and depth to the bond markets in Brazil," Goone added in the release.

The company said it expects to launch the platform in the second half of 2012. Cetip is responsible for product strategy and the promotion of usage in Brazil while IntercontinentalExchange is developing the technology.

IntercontinentalExchange is an Atlanta-based operator of regulated futures exchanges, trading platforms and clearing houses. Cetip is a Brazilian clearing house.

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