BGC Partners, an inter-dealer broker of financial instruments, has completed its acquisition of Liquidez DTVM, a Brazilian inter-dealer broker of foreign exchange derivatives, commoditi
BGC Partners, an inter-dealer broker of financial instruments, has completed its acquisition of Liquidez DTVM, a Brazilian inter-dealer broker of foreign exchange derivatives, commodities, credit, equities and interest rate products.
The deal marks a step for BGC Partners in its goal to further increase its presence in Latin America. Brazil is the largest market in the region and continues to grow despite challenging conditions in the global financial markets, achieving over five per cent per capita GDP growth in 2008, according to the IMF.
Lee Amaitis, vice chairman of BGC Partners, says: ‘We are very pleased to have finalized this deal with Liquidez. Liquidez has a long and impressive track record in Brazil and a highly professional team of brokers. Latin America is a key area of growth for BGC and Brazil is a particularly attractive market for us, given its continued growth and strong fundamentals. The Brazilian financial markets are also among the most broadly and cautiously regulated in the world. The acquisition of Liquidez gives us a significant platform for future growth in the region.’
Arnaldo Cezar Coelho, president and chief executive of Liquidez, adds: ‘BGC’s global reach and sophisticated proprietary technology opens up tremendous opportunities for our Brazilian clients, giving them access to BGC’s extensive range of products and significant liquidity. BGC’s global customers will also now have access to local products on the Brazilian Exchange, increasing business for the Brazilian markets.’
