IOSCO-Brazil market fragmentation coming ‘in principle’

MONTREAL, June 8 (BestGrowthStock) – Brazil’s main stock exchange
will “in principle” eventually face competition from other
trading venues, the country’s top securities regulator said on
Tuesday, adding a final decision has been delayed by the
financial crisis, a European market review and the mysterious
U.S. flash crash.

“Although we wanted to look at ways to promote competition,
we also decided to wait and not do it last year not only
because of the crisis, but also because we wanted to see the
results of the (MiFID) discussions at the European level,”
Maria Helena Santana, who chairs Brazil’s Securities
Commission, told Reuters.

“We know the concerns that European and American regulators
now have related to fragmentation and lack of transparency,”
she added.

Stock Market News
(Reporting by Jonathan Spicer, Jennifer Kwan and Rachelle
Younglai)

IOSCO-Brazil market fragmentation coming ‘in principle’