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By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – BM&F Bovespa, Brazil’s main securities, commodities and futures exchange, announced on Thursday the merger of the company with CETIP (clearinghouse) to form B3. The new company will become the fifth largest capital and financial market in the world in terms of value with a net worth of US$13 billion, according to officials.

“This historic combination is, above all, a commitment to Brazil. Strong reputation, investment in people, focus on innovation and market development will be kept in the DNA of the new company,” said current BM&F . . .

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