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Vassilis Vergotis From Komfie Manalo, Opalesque Asia:

The Brazilian market infrastructure is changing fast, according to the participants at the recent Opalesque Brazil Roundtable (sponsored by Citi and Eurex). Indeed, over the last three years, several high frequency trading firms have entered Brazil and are now adding liquidity to the local listed derivatives market.

Currently, there are several major vendors like Trading Technologies and Equinix (through its acquisition of the Brazilian technology firm Alog) that now provide access to exchanges and trading platforms. UBS acquired the Brazilian brokerage firm Link Investimentos in April 2010.

Vassilis Vergotis, who is responsible for the offices of Eurex in the Americas, said at the Roundtable that from an exchange perspective, Eurex is seeing that the activity from their customers into Brazil is on the rise.

He pointed out, "We have identified a couple of relevant developments that have occurred during the last three years in Brazil that have encouraged this trend. In contrast to the rest of the world, the majority of the derivatives volume in Brazil is done in the exchange listed business while OTC is a very small part of the market."

The entry of several high frequency trading firms into Brazi......................

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