Trading technology company ConvergEx is capitalising on increasing investor interest in Brazil with the opening a new office in Rio de Janeiro to support its Eze order management system (OMS).
The Eze OMS offers support for portfolio management, compliance, trading and operations on a single platform. The new office will facilitate all areas of Eze’s trading, portfolio management, compliance, operations and data management tools.
Jason Pietrafitta, recently manager of Asia-Pacific consulting for ConvergeEx’s Eze Castle Software, has been appointed director of Brazil consulting to support the firm’s latest venture.
“This presence gives us a platform that allows us to provide flexible and robust technology to Latin America’s rapidly growing markets while offering our regional customers the highest level of service and support,” said A.J. De Rosa, managing director and co-head of global sales for ConvergeEx’s Eze Castle Software.
Competition among trading venues is set to increase in the Brazil, after US-based exchange operators Direct Edge and BATS Global Markets signalled their intention to launch separate platforms to compete with domestic bourse BM&F Bovespa.
However, potential new entrants may find it difficult to establish themselves in Brazil following a reluctance by BM&F Bovespa to open up its vertically-owned clearing house to competitors.