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Nasdaq and NYSE Talk to Major Brazilian Stock Exchange

Nasdaq and the New York Stock Exchange (NYSE) have contacted Bolsa de Valores de Sao Paulo (Bovespa) in order to cut a deal that would lead to the most important Brazilian and Latin American stock exchange and unite their online operations with one of the American stock exchange companies.

Jose Roberto Mubarack, Bovespa's Manager of Market Relations, said both propositions are being analyzed but for strategic reasons he preferred not to disclose further details.

Mubarack explains that with the unification, the companies listed at Bovespa would have more exposure on the market and in turn, investors could have more business options. "This could change the velocity of the evolution of the companies".

But the plans do not stop there. Mubarack says that after the integration of the Brazilian stock market, Bovespa is looking forward to cutting deals with the stock exchanges of Argentina, Peru, Chile and Venezuela. The idea is to create an united stock market for Latin America.