(The Wall Street Journal) -- The initial public offering of Brazil's big futures-and-commodities exchange, the Bolsa de Mercadorias e Futuros SA, is likely to lead to more deal-making.

Analysts say BM&F and São Paulo's Bovespa Holding SA stock exchange, which went public in October, are likely to pursue a discussed merger of the two exchanges, consolidating São Paulo's position as Latin America's finance capital.