Direct Edge to Present to the Comissao de Valores Mobiliarios at Hearing on Exchange Competition
RIO DE JANEIRO, Brazil and JERSEY CITY, N.J., June 29, 2012 (GLOBE NEWSWIRE) -- Direct Edge, one of the world's leading equities exchange operators, has been invited to the offices of Comissão de Valores Mobiliários (CVM) for a presentation and discussion on the potential benefits to Brazilian investors of exchange competition and the most effective implementation plan for introducing competition. The meeting, which brings together several market participants and potential Brazilian market entrants, will consider the conclusions of a study conducted by Oxera Consulting Ltd which examines the costs and benefits of changing the competitive structure of the market for trading and post-trading services in Brazil. When the study was released earlier this month, Direct Edge commented that it was "entirely consistent" with the benefits and principles that have guided its efforts to offer exchange competition for the benefit of Brazilian investors.
"We are honored to participate in this groundbreaking forum which we believe will help advance the dialogue towards a competitive market," said William O'Brien, Chief Executive Officer, Direct Edge. "This prompt and thoughtful approach in the wake of the release of the Oxera report indicates a sincere desire of the CVM to examine the benefits of competition and consider the most effective and efficient way of allowing competing exchanges to enter the market."
The meeting will take place Friday, June 29 at 9:30 hour BRT / 8:30 AM EDT and be webcast live at: www.nucleomedia.com.br/get_webcast.asp?id=12534 Login: cvm2012, Password: brasil.
Direct Edge's presentation slides to the CVM are available in English and Portuguese at www.directedge.com.br
Direct Edge, a leading stock exchange in the United States, formally announced its intention to launch Direct Edge Brazil, an all-electronic platform for the trading of Brazilian equities, in November 2011. The exchange will be headquartered in Rio de Janeiro pending regulatory approval from the CVM.
Direct Edge Brazil
With Direct Edge Brazil, Direct Edge intends to adapt its high-performance technology, innovative approach and superior customer service to the unique needs of the Brazilian market and trading community. It is committed to competing as a respectful and responsible member of the marketplace and avoiding, wherever possible, the introduction of increased operational or systemic risk, allowing customers to take advantage of the new exchange as easily and as seamlessly as possible. For more information on Direct Edge Brazil and to sign up for updates, please go to: www.directedge.com.br
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