Nasdaq and Bovespa in tie-up talks

Nasdaq OMX Group and the Brazilian financial exchange BM&F Bovespa have announced they will be holding talks for the next two months to discuss a possible tie-up.  BM&F Bovespa, the world's fourth-largest exchange operator by market value, has received a boost this year from a surge in Brazilian capital markets. Nasdaq, however, is being forced to diversify its offering as its US rivals eat into its market share. The talks are expected to cover an agreement that would allow Nasdaq clients to buy directly from the Sao Paulo, Brazil-based exchange and also give Brazilian firms greater access to Nasdaq products. Resulting action from the talks will only be announced when the 60-day exclusivity period is up. BM&F Bovespa was the result of a merger last year between commodities and futures exchange BM&F and Bovespa Holding, which owns and manages the Brazilian Stock Exchange. It partnered with Chicago-based derivatives exchange operator CME Group in October 2007.  New York based Nasdaq OMX Group also owns and operates several European stock exchanges in the Nordic and Baltic regions.  A proposed merger with the London Stock Exchange Group was rejected in early 2007. * ┬á┬á┬á┬á┬á┬á┬á*┬á┬á┬á┬á┬á┬á┬á *