CME BM&F/Bovespa

Discussion in 'Financial Futures' started by Daal, Oct 28, 2008.

  1. Daal

    Daal

  2. That's one way to keep it from tanking! :D
     
  3. talk to your broker / fcm. globex has the bm&f contracts but not all fcm's are offering them yet due to gateway configurations and testing.
     
  4. Daal

    Daal

    I'm with IB. I sent them a ticket asking about this, do you know about IB stance on this?
     
  5. Daal

    Daal

    I'm suspecting NO broker has it yet other wise the CME BRL contract(non BMF) would have higher liquidity because market markets and arb guys would step in and the spread would narrow(hedging thorugh cme bmf). yet that contract still barely trades
     
  6. Yeah, I've never been able to get a straight answer on why the CME BRL contract has basically no liquidity
     
  7. Corelio

    Corelio

    Well said...:D
     
  8. 1) "It" probably has something to do with Brazil wanting their currency to trade through Brazilian entities, (i.e. banks, brokerages and exchanges), as long as possible before giving up any access and opportunity to foreign entites. It's a national pride "thing". :cool:

    2) Another thing is that the real has a little bit of a reputation for being a currency that rallies slowly and falls very quickly. It's deemed to be too risky. Traders are less interested in it compared to the majors. :)
     
  9. Surdo

    Surdo

    You need a "CFP", Cadastro de Pessoas Físicas, the equivalent of a Social Security card in The USA, in order to open a bank or brokerage account locally.

    It is virtually impossible to trade on the Bovespa or trade Fx without a CFP. You can use an agent who keeps the account in their name, no thanks!

    A local address in Brasil is required to get a CFP number.

    surdo
     
    #10     Oct 29, 2008