Agency broker and financial technology provider ITG is working with Brazilian brokerage Ágora to offer direct market access (DMA) to BM&F Bovespa, Brazil’s national stock exchange, through its Triton execution management system.
DMA allows buy-side traders to access trading venues electronically using their broker’s infrastructure without any intervention from the broker.
In addition, ITG is developing a suite of algorithms that will be specifically tailored for the Latin American markets. The firm already offers voice brokerage trading and execution services to Mexican exchange Bolsa Mexicana de Valores.
“As an established leader in the Brazilian marketplace, Ágora is a natural choice for us to liaise with in the region,” said Jay Fraser, managing director and head of US international sales, ITG, in a statement. “Their in-depth knowledge of the local market, along with their extensive client base, will help ITG seamlessly enter the Latin American trading community.”
Robert Gasser, CEO and president of ITG, added, “Our execution agreement with Ágora in Brazil is a significant step towards our goal of being a truly global partner to our clients. As the Latin American market continues to grow, we realise the importance of providing our clients with advanced trading tools to navigate the regional landscape.”