In order to make it easier for US based brokers to send buy-and-sell orders for all the stocks which are traded on the Brazilian exchange, and vice-versa, Nasdaq OMX Group and BM&F Bovespa have decided that an order routing system would be developed.

Under the plan, each exchange will distribute prices of securities which are traded on the other; in addition Nasdaq OMX will be offering Brazilian companies with investor relations services like press releases and market communications.

The formal agreement about the project has come after an announcement in October which specified that the exchanges were working to develop "order routing and other partnerships".

"We believe our agreement with the BM&F Bovespa is a strong blueprint for how global exchanges can co-operate and leverage their global networks, key assets and the benefits of their geography", said Bob Greifeld, chief executive officer of Nasdaq OMX.

The order routing system will be developed by a Nasdaq OMX subsidiary, and it is expected to be launched during 2010's second quarter, and other operations covered in the agreement will see light of the day over the course of the coming year.