[B]3

[B]3

Corporation listed on BM&FBOVESPA

Gilson Finkelsztain - CEO

Gilson Finkelsztain - CEO

Authorities

Chairman
Pedro Pullen Parente

Vice-Chairman
Antonio Carlos Quintella

Board Members
Denise Pauli
Pavarina Eduardo
Mazzilli De Vassimon Edgar
Da Silva Ramos Florian
Bartunek Guilherme Affonso
Ferreira José
De Menezes Berenguer Neto José Lucas
Ferreira De Melo José Roberto
De Machado Filho Laércio José
De Lucena Cosentino Luiz Antonio
De Sampaio Campos Luiz Fernando
Figueiredo Luiz Nelson
Guedes De Carvalho

CEO
Gilson Finkelsztain

Rúa XV de Novembro 275, (SP01013-011) Sao Paulo, Brasil

Phone: (5511) 2565-4000 www.b3.com.br/en_us/

Main products and markets

  • Shares
  • Depository receipts (BDR)
  • Fund units
  • Exchange traded funds -  ETFs
  • Corporate bonds
  • Real estate receivable certificates (CRI)
  • Promissory notes
  • Receivable investment funds (FIDC)
  • FIDC’s units
  • Derivatives on commodities
  • Financial derivatives
  • OTC Market

Main shareholders

Capital World Investors 9.65%
OppenheimerFunds 6.5%
BlackRock 4.49%
Otros 78.27%
Acciones en Tesorería 1.09%

Trading hours

Market / Product
Schedule
Shares
10:00 to 17:00
PUMA Trading System
Fixed Income
10:00 to 17:00
Derivatives
9:00-18:00 (*)
PUMA Trading System
(*) Some contracts could have different trading hours. Please visit www.bmfbovespa.com.br/pt-br/regulacao/horarios-de-negociacao/derivativos.aspx?Idioma=pt-br

Market data

(Additional information at www.fiabnet.org)
Item
2019
2015
2010
2005
Market capitalization (millions of US$)*
1,191,512
478,876
1,547,836
483,191
Number of listed companies
328
359
383
343
Indice Bursátil
Ibovespa
115,645
43,35
69,304
33,455
IBrX50
18,882
7,358
9,634
4,823
Number of brokerage companies
161
100
100
94
Total value of share trading (Millions of US$)
1,066,276
487,277
868,11
165,276
Total value of bond trading (Millions of US$)
487
283
248
834
*Includes domestic and foreign companies
Market Capitalization - (US$ Millions)
Total value of Share trading - (US$ Millions)
Total value of Fixed Income trading - (US$ Millions)
2019
2018
Derivatives
Notional value of contracts traded (millions of US dollars)
Open interest at year end
Number of contracts traded
Notional value of contracts traded (millions of US dollars)
Open interest at year end
Number of contracts traded
Options
Stock options
861,529
27,733,479
952,110,221
734,558
19,414,603
913,217,269
ETFs options
12,548,721
186,372
48,795,101
3,861,948
115
16,955,004
Stock index options
469,962
533,799
43,225,981
189,295
420,797
24,601,276
Interest rate options
29
254,500
1,019,760
152
124,820
453,168
Exchange rate options
4,546
909,667
10,166,809
5,839
1,123,316
8,789,367
Commodity options
Gold
0
0
0
8.16
n.d.
1,895
Fat cattle
109
37,281
344,806
27
13,499
212,958
Arabiga coffee
0.52
97
1,972
0.33
33
1,453
Corn  (cash settlement)
39
36,345
314,406
56
26,803
414,855
Soybean
0
0
0
0.23
n.d.
1,495
Ethanol
0
0
0
0.05
n.d.
220
Futures
Stock
n.d.
n.d.
n.d.
0.17
86,800
230,800
Stock index futures
9,239,400
925,126
1,650,486,915
3,734,081
568,306
730,310,854
Bond futures
10,821
1,600
84,066
9,723
1,036
81,195
Interest rate futures
11,019,191
32,678,537
46,998,7808
8,741,593
19,824,396
374,401,516
Exchange rate futures
8,263,527
5,646,987
441,198,777
7,383,000
5,730,984
36,114,5578
Commodity futures
Fat cattle
6,609
15,023
443,480
3,733
3,819
283,875
Arabiga Coffee
1,824
13,062
140,331
1,471
11,645
106,901
Corn (cash settlement)
4,130
33,111
926,710
4,575
22,837
977,701
Ethanol
435
4,798
31,358
554
3,860
39,064
Mini soybean CME
398
970
45,264
722
1,321
78,831
Oil WTI
140
708
24,763
202
790
32,092

Market capitalization split by economic sector

 
Sector
2019
2018
%
%
Industrial
2
1
Mining
8
10
Banking, financial and insurance
33
35
Agricultural
1
0
Retail
0
0
IT
3
3
Utilities
11
9
Other
42
42
Total
100
100
2019

Brief history

 » [B]3

BM&FBOVESPA is the Brazilian equities, commodities and futures Exchange. BM&FBOVESPA is the outcome of the merger of the old São Paulo Stock Exchange (Bovespa Holding) and the old Brazilian Mercantile and Futures Exchange (“BM&F”). At present, BM&FBOVESPA operates as a multi-asset Exchange, as well as a central securities depository (CSD), securities settlement system (SSS), and central counterparty (CCP) for all instruments and products traded or settled on its trading platforms. BM&FBOVESPA Timeline

  • 3T2007 – Demutualization
  • 10/26/2007 – BOVESPA’s IPO
  • 11/30/2007 – BM&F’s IPO
  • 2T2008 – Merger approved
  • 2008 – Operational integration of BM&FBOVESPA
  • 2009 – Merger completed

Organization chart

Organization chart

Financial indicators

2013
2012
Net Income (U$S thousands)
461,673
1.074.256
ROE (Net Income/shareholders’ equity)
5.6%
5.53%
ROA (Net Income/Assets)
4.2%
4.45%
EBT/Shareholder’ equity
8.7%
8.55%
EBT/Assets
6.5%
6.87%
 » [B]3

Clearing, settlement and depositary services

At present, BM&FBOVESPA keeps four different sets of accounts:

  • Equities and corporate debt securities (T +3);
  • Financial derivatives and commodities (T +1);
  • Foreign exchange market; and
  • Public (government) debt.

Transactions are captured at real time directly from the various trading platforms. Payments resulting from the settlement of any transaction registered with BOVESPA are made in bank reserves and, therefore, BM&BOVESPA has four settlement accounts with the Central Bank of Brazil, where payments credited to such accounts are final and freely available. Each BM&F settlement system follows specific time frames. On settlement date, BM&FBOVESPA interacts with market participants who, in turn, interact with one another and with their clients for purposes of complying with their settlement obligations. Time frames vary depending on securities settlement systems and specific market features. Net Settlement System Cycles

Market Transaction Settlement
Equities Cash/Spot T+3
Forward T+n – maturity date
Futures T+3 -  maturity date
Options* and Futures** T+1
Fixed income Cash/Spot T+0
Corporate bonds T+1

* Settlement of traded premiums ** Settlement of daily position adjusted values Depository services are performed by CBLC.

Central counterparty - CCP

BM&FBOVESPA acts as a CCP, thus being exposed to credit risk in case of default of member participants or issuers of collateral assets deposited with clearing houses. For purposes of mitigating its exposure, clearing houses require that their participants deposit collateral, and track risks affecting the positions of clearing house participants. For purposes of mitigating liquidity and market risk during the collateral enforcement period, the clearing house applies margins to the securities admitted as collateral. Margin values are defined by the Market Risk Technical Committee. The clearing house may impose restrictions on total assets deposited as collateral for a specific type of security. BM&FBOVESPA has a 3-tier clearing and settlement structure:  investor, broker-dealer, and settling agent, which act together as protective defenses of the trading system in case of default.

Member of the following organizations

  • Federación Iberoamericana de Bolsas (FIAB) – 1973
  • World Federation of Exchanges (WFE)
  • Futures Industry Association (FIA)
  • International Organization of Securities Commissions (IOSCO) – 1974
  • International Securities Services Association
  • Americas’ Central Securities Depositories Association (ACSDA) – 1999
  • Global Association of Central Counterparties (CCP-12) – 2001

Agreements with other Exchanges

  • CME Group – Strategic Alliance.
  • Bolsa de Shanghai - Memorandum of Understanding.
  • Bolsa de Santiago - Memorandum of Understanding.
  • Bolsa de Colombia - Memorandum of Understanding.
  • BRICS - Cross listing of index futures contracts among the Exchanges of Brazil, Russia, India, Hong Kong, and South Africa.

Edited by FIAB Secretariat. The information referred to member exchanges and markets compiled in this Handbook has been provided to FIAB by these entities and is updated up to May of 2019. Every effort has been made to ensure that the information in this edition is accurate at the time of its publication. FIAB Secretariat cannot accept responsibility for errors or omissions.