InterContinental Exchange, the US exchange operator, has partnered with Brazilian securities depository Cetip to launch a trading platform for corporate and government bonds, as competition for a slice of the Brazilian securities market heats up.

The platform, Cetip Trader, which was confirmed as being under development in April, has now launched, the pair announced yesterday. It will handle trading and settlement for Brazilian bond products, based on technology built by Ice. The platform will employ a hybrid trading model, with fixed income products tradable electronically but confirmed over the phone via a voice broker.