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Cetip Falls on Report BM&FBovespa Plans to Expand Fixed Income

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Dec. 19 (Bloomberg) -- Securities depository Cetip SA Mercados Organizados fell after Valor Economico reported that BM&FBovespa SA, the operator of Latin America’s biggest securities exchange, seeks to expand its fixed-income business.

Cetip declined 1.2 percent to 23.99 reais at 12:11 p.m. in Sao Paulo after tumbling as much as 4.8 percent. BM&FBovespa gained 1.8 percent to 14.11 reais, one of the best performances on the MSCI Brazil/Financials Index, which advanced 1.2 percent.

The exchange operator will begin to register fixed-income securities as soon as the central bank gives its authorization, Valor Economico reported today, citing BM&FBovespa’s director Fabio Dutra, who didn’t specify a date for the new operation to start. Cetip handles 97 percent of fixed-income securities registries in Brazil, according to Valor Economico.

BM&FBovespa didn’t respond to a request for comment when contacted by phone and e-mail by Bloomberg News.

Cetip fell 9.8 percent this year through yesterday while BM&FBovespa gained 41 percent and the financials index dropped 4.1 percent.

To contact the reporter on this story: Denyse Godoy in Sao Paulo at dgodoy2@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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