According to the ICE, direct access and membership will be restricted to intermediary firms authorized by the Brazilian financial regulator, and those accessing ICE Futures Europe’s electronic markets as clients may only do so if they are qualified investors and are executing via an approved Brazilian intermediary.
ICE Futures US has been approved to provide screen-based access to its markets in Brazil since October 2009.
ICE Futures Europe president and COO David Peniket said that ICE continues to pursue new jurisdictions to broaden the customer base and to access new markets.
"Brazil is one of the world’s most dynamic economies and an increasingly important producer of crude oil. We are delighted to be able to respond to demand for ICE products, particularly given the increased reliance on the benchmark ICE Brent Crude Oil futures contract," Peniket said.
