Just curious - any way to trade Brazil index futures on a US exchange?? Alternatively, anyone trade the index or other contracts directly on the Brazilian Mercantile & Futures Exchange? Is the exchange floor based or electronic. (I'm a bit surprised there doesn't seem to be more interest in a market that has been so volatile in the past, and is so close to home.)
The Bovespa has very strict residency requirements. You need to set up an account through a member firm to trade stocks on The Bovespa, as well as BM & F. The easiest Brazilian instrument to trade from a US based account is EWZ which trades well over 2MM a day. This looks like it may be informative, NYC and SF events. http://www.bestbrazil.org/pages/events.asp http://www.bmf.com.br/indexenglish.asp
I have done a decent amount of research on this, DO NOT put money in this market without RESIDENCY, or a blood relatives name. They are quite sophisticated down there, if you get my drift!
Yep, I've done business in Brazil and have Brazilian friends, so I'm familiar with the terrain. I wouldn't trade this unless I had a major FCM as an intermediary/guarantor and had the need for great diversification. But the volatility in the Bovespa is attractive. Now I know some CTAs/hedge funds trade the Bovespa, I would be curious as to their experiences and if they use their FCMs as the intermediary. Anyone with insights on this?