Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (37433)	7/29/2008 6:36:01 PM
From: elmatador	Respond to of 219855

UBS Opens Direct Electronic Access to Brazilian Stock Market By Edgar Ortega July 29 (Bloomberg) -- UBS AG, Europe's biggest bank by assets, opened direct electronic access for international investors to the Sao Paulo stock exchange. The move takes advantage of recent regulatory changes aimed at making it easier for foreign investors to tap Brazilian markets, said Will Sterling, head of institutional electronic trading. UBS plans to open direct electronic access to other markets in Latin America, including Mexico later this year. ``In terms of the scope and impact, Brazil is one of the biggest focuses right now,'' Sterling said in an interview. ``The client demand is surprisingly strong.'' Brokerages such as Zurich-based Credit Suisse Group AG and Credit Agricole SA's Cheuvreux are increasingly competing for business by offering investors a single place to trade electronically around the world. They are concentrating on fast- growing markets like India or Brazil, Latin America's largest economy. The Bovespa Index has surged 70 percent since January 2006. Credit Suisse last year expanded its algorithmic equities trading service to South Africa, Mexico and four other countries. Paris-based Cheuvreux plans to link to exchanges in Brazil and Mexico later this year. Morgan Stanley, the second- largest U.S. securities firm by market value, last week opened direct electronic access for foreign investors to trade stocks and derivatives on India's National Stock Exchange. Direct access helps cut down transaction times and reduce the possibility for errors, Sterling said. UBS previously had to transfer foreign investors' orders onto a different system to reach the Sao Paulo exchange, which is controlled by Bovespa Holding SA. ``The technology platform that we are using for Brazil is now the same as for other large markets such as the U.S.,'' said Sterling. ``The more automated a process, the more confident clients are that it's locked down from a confidentiality perspective.'' Credit Suisse and UBS were the biggest underwriters of Brazil's 53.2 billion reais ($33.8 billion) of initial public offerings last year, data compiled by Bloomberg show. To contact the reporter on this story: Edgar Ortega in New York at ebarrales@bloomberg.net.