CME, Brazil's BM&FBovespa to develop new trading platform

CME Group has reached an agreement with fellow exchange company BM&FBovespa to jointly develop a new trading platform.

In accordance with the agreement, Brazil-based BM&FBovespa - the world's third-biggest exchange company by market capitalisation - will increase its ownership stake of CME to 5%, buying shares for $275.12 each, a 3.5% discount to yesterday's closing price.

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