CME BM&F/Bovespa

[nazzdack]

Interesting. However, when all is said and done, does Brazil do that in order to keep the business in the hands of natives? If market access were liberalized, would foreign entites quickly displace the locals permanently?

 

[Daal]

Quote from Surdo:

You need a "CFP", Cadastro de Pessoas Físicas, the equivalent of a Social Security card in The USA, in order to open a bank or brokerage account locally.

It is virtually impossible to trade on the Bovespa or trade Fx without a CFP. You can use an agent who keeps the account in their name, no thanks!

A local address in Brasil is required to get a CFP number.

surdo

Its CPF. I have it but I dont like keeping money onshore, you just never know when they will freeze assets and print money to do 'social justice'

 

[TradingPilot]

Quote from Daal:

Its CPF. I have it but I dont like keeping money onshore, you just never know when they will freeze assets and print money to do 'social justice'

They did it in the early 90s they can do it again!

I have a CPF as well but with globex I don't think you need it. The whole point is to get international investors.
You still have to fill out the the local paperwork though.

 

[Daal]

Quote from Daal:

I'm with IB. I sent them a ticket asking about this, do you know about IB stance on this?

"IB will make that product available to customers, however their no timeline on when that is going to happen. IB will post new products on the web site, under product listings.

Regards,

IB"

 

[soks86]

The paperwork is definitely planned out and the CME has published multiple documents explaining the process different customers need to take to use BM&F.

There are some added requirements for systems who trade BM&F but it's very minimal changes really.

I don't quite recall why but I do know there were a few issues with the system when it just came out. I bet if you got in contact with the CME Group they would probably tell you who (if anyone) has the capability to trade BM&F contracts through them.