[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
2017
2015
2010
2005
Market capitalization (millions of US$)*
954,629
478,876
1,547,836
483,191
Number of listed companies
343
359
383
343
Indice Bursátil
Ibovespa
76,403
43,350
69,304
33,455
IBrX50
12,766
7,358
9,634
4,823
Number of brokerage companies
112
100
100
94
Total value of share trading (Millions of US$)
662,626
487,277
868,110
165,276
Total value of bond trading (Millions of US$)
243
283
248
834
*Includes domestic and foreign companies
Market Capitalization - (US$ Millions)
Total value of Share trading - (US$ Millions)
Total value of Fixed Income trading - (US$ Millions)
2017
2016
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
Stock options
450,391
16.611.303
681,905,063
310,61
17,310,245
692,006,943
ETFs options
6,278,742
204.683
31,666,541
644,889
36,85
4,269,833
Stock index options
232,093
381.184
19,972,818
167,067
325,863
14,052,305
Interest rate options
305
2.684.479
6,596,925
63.11
530,015
1,264,615
Exchange rate options
4,734
622.666
8,641,075
9,013
818,467
16,427,770
Commodity options
Gold
9.53
476
35,548
0.36
92
1,488
Fat cattle
73
15.692
350,240
22.29
7,743
154,855
Arabiga coffee
3.44
75
1,983
3.01
111
729
Corn  (cash settlement)
32.39
44.218
291,191
40
35,178
216,628
Soybean (cash settlement)
0
1
27
0.04
45
399
Stock index futures
1,683,576
458.180
309,127,546
821,351
401,046
170,157,338
Bond futures
5,208
2.417
41,698
2,066
1,768
15,768
Interest rate futures
9,497,271
25.247.908
355,108,714
7,075,730
21,321,707
303,229,179
Exchange rate futures
5,280,807
4.385.481
222,996,785
4,737,150
4,115,890
167,252,036
Commodity futures
Fat cattle
7,131.04
4.842
502,727
6,406
3,721
429,292
Arabiga Coffee
1,675
9.241
102,474
2,1
6,541
125,9
Corn (cash settlement)
3,338
25.037
792,259
4,044
25,736
741,933
Soybean
0
0
27
0
0
0
Hydrous Ethanol
329.05
2.616
21,476
357
3,572
25,524
Mini soybean CME
671.79
2.385
69,177
845
1,764
84,272
Soybean (cash settlement)
0
0
0
0
0
0
Oil WTI
297.27
1075
60,781
87.67
456
18,841
Gold
-
-
-
0.05
0
809
Crystal Sugar
-
-
-
0.25
n.d.
4,216

Market capitalization split by economic sector

 
Sector
2016
2015
%
%
Industrial
0
3
Mining
11
10
Banking, financial and insurance
35
34
Agricultural
0
0
Retail
0
0
IT
4
5
Utilities
11
10
Other
39
38
Total
100
100
2016

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.