Bats plans Brazilian exchange

US-based exchange continues hyper-ambitious plans to become major global exchange player with first foray into developing market

Bats Global Markets, the US-based exchange which is in talks to buy rival Chi-X Europe, is continuing its hyper-ambitious plans to become a major global exchange player with its first foray into a high-growth developing market.

Bats has unveiled plans to create a Brazilian stock exchange where it will take on a market dominated by BM&FBovespa, one of the largest exchanges in the world.

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