New York – February 12, 2010 – Lawfuel.com – Debevoise & Plimpton LLP is advising BM&FBOVESPA, the world’s third largest exchange company by market capitalization, in its agreement with CME Group, the world’s leading and most diverse derivatives marketplace, to become Global Preferred Strategic Partners and to develop a new multi-asset class electronic trading platform that will be deployed by BM&FBOVESPA for use in its cash equities and derivatives markets. As part of the expanded partnership, BM&FBOVESPA will pay approximately $620 million to increase its ownership interest in CME Group to 5%, the same approximate stake CME Group currently has in BM&FBOVESPA.
BM&FBOVESPA S.A. – Securities, Commodities and Futures Exchange was created in 2008 with the integration between the Brazilian Mercantile & Futures Exchange (BM&F) and the São Paulo Stock Exchange (Bovespa) and is one of the largest exchanges in the world in terms of market value, the second largest in the Americas, and the leading exchange in Latin America. Debevoise & Plimpton LLP is a leading international law firm with offices in New York, Washington D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.
The Debevoise team is led by partner Michael J. Gillespie and includes partners Daniel M. Abuhoff, Jeffrey P. Cunard and William D. Regner, counsel Jeffrey E. Ross and associate David Grosgold.