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BM&F Bovespa: 2013 Operating Costs Likely BRL560 Million To BRL580 Million

12/12/2012 | 04:31am US/Eastern
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SAO PAULO--Brazilian stock exchange operator BM&FBovespa S.A. (BVMF3.BR) said it plans to invest a little bit more next year than this year, as it is upgrading its technology and building a data center.

The company will invest between 260 million Brazilian reais ($125.6 million) and BRL290 million in 2013, according to a regulatory filing posted late Tuesday. That's above the figure of between BRL230 million and BRL260 million projected for this year.

For 2014, BM&FBovespa said it expects to invest between BRL170 million and BRL200 million in its operations.

Since 2010, the exchange has been investing in the integration of its clearing houses, the upgrading of its technology and also in the construction of a data center. From 2010 to 2014, the exchange said it will invest a total of BRL1.2 billion.

In the meantime, the company said its operating costs next year would amount to between BRL560 million and BRL580 million, the same amount expected for this year, as company's focus remains on costs control, it said.

BM&F Bovespa was created at the end of 2008 from the merger of BM&F, the local commodities and futures exchange, and Bovespa Holding, the company that owns and manages the Brazilian Stock Exchange.

Write to Rogerio Jelmayer at rogerio.jelmayer@dowjones.com

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