Facilitating quantitative trading in Brazil.
Things are looking a lot better, the exchange is making a big push to be more friendly and receptive to local managers. By 2012, all assets in Brazil will be availabile connected with STP and it will be a much better environment, and cost efficiency to help managers capture alpha. Neither fund manager on the panel felt that the exchange had done a good job historically facilitating quantitative trading but are positive about the path the BM&Fbovespa is taking and are optimistic about the future.
Credit Suisse feel that the future is extremely bright in São Paulo, and that there is going to be an extraordinary pool of quant managers here within a 3-4 year time frame, as the market becomes more efficient.