Difference between revisions of "B3"

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{{Infobox_Company
 
{{Infobox_Company
| company_name = BM&FBOVESPA S.A. (also BM&F Bovespa)
+
| company_name = B3
| company_logo = [[Image:BM&FBOVESPA.gif]]
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| company_logo = [[Image:Logo-b3.png]]
| key_people = Edemir Pinto, CEO   
+
| key_people = Gilson Finkelsztain, CEO   
 
| foundation = 2008  
 
| foundation = 2008  
 
| location = São Paulo, Brazil     
 
| location = São Paulo, Brazil     
 
| press =  http://translate.google.com/translate?hl=en&sl=pt&u=http://www.bmf.com.br/&ei=hSyMS7fhCcHS8Aa657mZDw&sa=X&oi=translate&ct=result&resnum=2&ved=0CBMQ7gEwAQ&prev=/search%3Fq%3DBM%2B%2526%2BF%2BBovespa%26hl%3Den%26client%3Dfirefox-a%26hs%3D53X%26rls%3Dorg.mozilla:en-US:official
 
| press =  http://translate.google.com/translate?hl=en&sl=pt&u=http://www.bmf.com.br/&ei=hSyMS7fhCcHS8Aa657mZDw&sa=X&oi=translate&ct=result&resnum=2&ved=0CBMQ7gEwAQ&prev=/search%3Fq%3DBM%2B%2526%2BF%2BBovespa%26hl%3Den%26client%3Dfirefox-a%26hs%3D53X%26rls%3Dorg.mozilla:en-US:official
 
| products =  BOVESPA Index, Brazil Index 50
 
| products =  BOVESPA Index, Brazil Index 50
| homepage =  [http://www.bmfbovespa.com.br www.bmfbovespa.com.br]
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| homepage =  [http://www.b3.com.br/pt_br/ www.b3.com.br/pt_br/]
 
}}
 
}}
  
Brazilian [[equities]] and [[derivatives]] [[exchange]] BM&FBOVESPA is Latin America's largest public [[securities]]-[[trading]] [[market]], offering products from [[equities]] to [[spot commodities]] to [[interest-rate]] [[futures]] contracts.  
+
Brazilian [[equities]] and [[derivatives]] [[exchange]] B3, formerly BM&FBOVESPA, is Latin America's largest exchange and the second largest in the western hemisphere.<ref>{{cite web|url=http://www.bmfbovespa.com.br/english/QuemSomos.asp|name=About BM&FBOVESPA|org=BM&FBOVESPA|date=August 2, 2009}}</ref>  It offers products from [[equities]] to [[spot commodities]] to [[interest-rate]] [[futures]] contracts. The exchange changed its corporate name from BM&FBOVESPA S.A. – Bolsa de Valores, Mercadorias e Futuros to B3 S.A. – Brasil, Bolsa, Balcão in June 2017. That name was created after the exchange acquired [[CETIP]], the largest depository for private sector debt securities in Latin America, in March 2017.<ref>{{cite web|url=http://www.bmfbovespa.com.br/en_us/news/the-birth-of-b3.htm|name=The birth of B3 - a world-class financial market infrastructure company|org=B3|date=March 31, 2017}}</ref><ref>{{cite web|url=https://www.finextra.com/pressarticle/68688/bmfbovespa-and-cetip-combine-to-form-b3|name=BM&FBovespa and Cetip combine to form B3|org=Finextra|date=March 31, 2017}}</ref>
  
BM&FBovespa was created in 2008 by the [[merger]] of two existing exchanges, the [[Bolsa de Mercadorias & Futuros]] and [[Bolsa de Valores de Sao Paulo]].  
+
BM&FBovespa was created in 2008 by the [[merger]] of two existing exchanges, the [[Bolsa de Mercadorias & Futuros]] and Bolsa de Valores de Sao Paulo.  
  
BM&FBovespa also implemented a successful order [[routing]] agreement with [[CME Group]] and expanded its partnership with CME to develop a multi-[[asset class]] [[platform]]. The agreement allowed BM&FBOVESPA customers to access the CME Group's contracts through the same trading system on which they trade in the domestic market, BM&FBOVESPA PUMA Trading System; CME Group customers can trade at BM&FBOVESPA through the CME Globex platform.<ref>{{cite web|url=https://fimag.fia.org/articles/2014-fia-annual-global-futures-and-options-volume-gains-north-america-and-europe-offset|name=2014 FIA Annual Global Futures and Options Volume: Gains in North America and Europe Offset Declines in Asia-Pacific|org=FIA|date=May 11, 2015}}</ref>
+
BM&FBovespa posted volume of over 2.5 billion derivatives contracts in 2018, according to the [[Futures Industry Association]]'s survey of the world's leading derivatives exchanges, up 42 percent from 1.8 billion contracts, the previous year. <ref>{{cite web|url=https://marketvoice.fia.org/articles/record-year-derivatives|name=2018 Annual Global Derivatives Volume Survey|org=Futures Industry Association|date=April 5, 2019}}</ref>  
  
The company sold its 4 percent stake in CME Group on April 7, 2016 in order to raise funds to buy its Brazilian rival, [[Cetip SA]]. In a securities filing, BM&FBovespa said the decision implied the end of the cross-holding agreement with CME. A Cetip takeover would make BM&FBovespa the dominant exchange in Brazil.<ref>{{cite web|url=http://www.reuters.com/article/us-bm-f-bovespa-divestiture-cme-group-idUSKCN0X42TT|name=BM&FBovespa raises $1.25 billion from CME stake sale to buy rival|org=Reuters|date=April 8, 2016}}</ref>  BM&FBovespa also announced it had acquired a 4.1 percent stake in its Mexican peer, [[Bolsa Mexicana de Valores]], in a deal worth around 136 million reais ($37 million).<ref>{{cite web|url=http://www.marketwatch.com/story/bmf-bovespa-acquires-41-stake-of-mexico-bourse-2016-04-06|name=BM&F Bovespa acquires 4.1% stake of Mexico bourse|org=MarketWatch|date=April 8, 2016}}</ref>
 
  
BM&FBovespa posted volume of over 1.35 billion derivatives contracts traded in 2015, according to the [[Futures Industry Association]]'s survey of the world's leading derivatives exchanges, down 4.4 percent from 1.42 billion in 2014. <ref>{{cite web|url=http://www.marketvoicemag.org/?q=content/2015-annual-survey-global-derivatives-volume&t=1|org=Futures Industry Association|date=March 31, 2016}}</ref>
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== History ==
  
BM&FBOVESPA is a member exchange of the [[World Federation of Exchanges]].<ref>{{cite web|url=http://world-exchanges.org/files/statistics/excel/WFE2010AR%20final.pdf|name=2010 Annual Report & Statistics|org=World Federation of Exchanges|date=July 25, 2011}}</ref><ref>{{cite web|url=http://world-exchanges.org/member-exchanges/key-information|name=Members|org=World Federation of Exchanges|date=July 25, 2011}}</ref>
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BM&FBOVESPA was formed in 2008 by the union of two São Paulo-based [[securities]] [[exchange]]s - the São Paulo Stock Exchange (BOVESPA) and the Brazilian Mercantile and Futures Exchange (BM&F).<ref>{{cite web|url=http://www.ft.com/cms/s/0/0e8cade6-183c-11df-9256-00144feab49a.html|name=São Paulo exchange raises CME stake|org=Financial Times|date=February 26, 2010}}</ref>
  
== Background ==
+
BM&FBOVESPA called a halt to all [[open outcry]] exchanges trading on June 30, 2009 and shifted to [[electronic trading]] of its high-volume [[interest rate]] futures contracts. Analysts said the move allowed the exchange to attract more sophisticated automated traders. It subsequently opened offices in London to go with other foreign outposts in New York and Shanghai.<ref>{{cite web|url=http://www.ft.com/cms/s/0/4ccb412c-544b-11de-a58d-00144feabdc0,dwp_uuid=50b45d26-5b63-11da-b221-0000779e2340.html|name=BM&F Bovespa challenges global exchanges|org=Financial Times|date=August 2, 2009}}</ref>
BM&FBOVESPA was formed in 2008 by the union of two São Paulo-based [[securities]] [[exchange]]s - the São Paulo Stock Exchange (BOVESPA) and the Brazilian Mercantile and Futures Exchange (BM&F) - and ranked third among the world's leading securities exchanges by [[market cap]].<ref>{{cite web|url=http://www.ft.com/cms/s/0/0e8cade6-183c-11df-9256-00144feab49a.html|name=São Paulo exchange raises CME stake|org=Financial Times|date=February 26, 2010}}</ref> It is also now the leading Latin American exchange and the second largest in the western hemisphere, surpassing [[NYSE Euronext]] and [[Nasdaq OMX]].<ref>{{cite web|url=http://www.bmfbovespa.com.br/english/QuemSomos.asp|name=About BM&FBOVESPA|org=BM&FBOVESPA|date=August 2, 2009}}</ref>
+
 
 +
The company has continued a strategy of expanding by buying minority stakes in other Latin American exchanges. It acquired its Brazilian rival, [[Cetip SA]], in April of 2016, making it the dominant exchange in Brazil. It also purchased minority stakes in Chile’s Bolsa de Comercio de Santiago and Mexico’s Bolsa Mexicana de Valores SAB.<ref>{{cite web|url=http://www.marketwatch.com/story/bmf-bovespa-acquires-41-stake-of-mexico-bourse-2016-04-06|name=BM&F Bovespa acquires 4.1% stake of Mexico bourse|org=MarketWatch|date=April 8, 2016}}</ref>
 +
 
 +
BM&FBovespa became the top shareholder of the Bolsa de Valores de Colombia in July of 2016, buying 9.99 percent of the Colombian exchange for 44 million reais ($13 million).<ref>{{cite web|url=http://www.bloomberg.com/news/articles/2016-07-07/bm-fbovespa-buys-top-colombia-exchange-stake-in-integration-push|name=BM&FBovespa Buys Top Colombia Exchange Stake in Integration Push|org=Bloomberg|date=July 8, 2016}}</ref>
 +
 
 +
The bourse has said it wants to play a role in the financial integration of Latin America.
 +
 
 +
BM&FBovespa previously had an order routing agreement with [[CME Group]] and and developed a mutli-asset class platform that allowed CME Group customers to trade at BM&F through CME Globex. <ref>{{cite web|url=https://fimag.fia.org/articles/2014-fia-annual-global-futures-and-options-volume-gains-north-america-and-europe-offset|name=2014 FIA Annual Global Futures and Options Volume: Gains in North America and Europe Offset Declines in Asia-Pacific|org=FIA|date=May 11, 2015}}</ref> However, it sold its 4 percent stake in CME Group on April 7, 2016 to raise funds to buy Cetip.<ref>{{cite web|url=http://www.reuters.com/article/us-bm-f-bovespa-divestiture-cme-group-idUSKCN0X42TT|name=BM&FBovespa raises $1.25 billion from CME stake sale to buy rival|org=Reuters|date=April 8, 2016}}</ref>
 +
 
 +
BM&FBovespa launched a new clearing house on August 18, 2014, after four years of developing the platform. The exchange transferred exchange-traded and over-the-counter derivatives to the new clearing house, and followed that with equities in 2015. The clearing house completed a R$1.5bn project to overhaul Brazil’s trading infrastructure.<ref>{{cite web|url=http://www.ft.com/intl/cms/s/0/aa333c7a-2600-11e4-9bca-00144feabdc0.html#axzz3Al6ag1SK|name=BM&FBovespa to launch clearing house|org=The Financial Times|date=August 18, 2014}}</ref> The new clearinghouse includes exchange-traded and OTC derivatives; equities and corporate bonds; spot FX; and federal government bonds in a single clearinghouse and unites all four existing clearing houses. Previously all of these markets used separate clearinghouses.<ref>{{cite web|url=http://www.bmfbovespa.com.br/en-us/bmfbovespa/media-room/Releases/2014/BMFBOVESPA-Clearinghouse-starts-operating-20140818.aspx?tipoNoticia=32&idioma=en-us|name=BM&FBOVESPA Clearinghouse starts operating|org=BM&FBOVESPA|date=August 18, 2014}}</ref>
 +
 
 +
In September of 2016 BM&FBovespa became the first exchange to join [[R3]]'s distributed ledger consortium. The exchange will be part of a collaboration with R3 and more than 60 of the world’s largest financial institutions to develop commercial applications for ledger technology in the financial services industry, including Corda, R3's shared ledger platform.<ref>{{cite web|url=http://myinforms.com/en-us/a/40605153-bmfbovespa-becomes-first-exchange-to-join-r3-distributed-ledger-consortium/|name=BM&FBOVESPA Becomes First Exchange To Join R3 Distributed Ledger Consortium|org=MyInforms.com|date=September 7, 2016}}</ref>
  
 
== Key Products ==
 
== Key Products ==
BM&FBOVESPA's [[benchmark]] equity [[index]] is known in Brazil as the Indice Bovespa (IBovespa)<ref>{{cite web|url=http://www.wikinvest.com/wiki/Indice_Bovespa_(IBOV11-BR)|name=Indice Bovespa (BVSP)|org=WikiInvest|date=August 2, 2009}}</ref> but is also called the Bovespa Index by many western news sources.<ref>{{cite web|url=http://www.bloomberg.com/markets/stocks/movers_index_ibov.html|name=BOVESPA|org=Bloomberg|date=August 2, 2009}}</ref> It is made up of the the market's most [[liquid]] stocks and is based on total [[return]]s weighted by their trading volume on the BOVESPA [[stock exchange]].
+
B3's [[benchmark]] equity [[index]] is known in Brazil as the Indice Bovespa (IBovespa)<ref>{{cite web|url=http://www.wikinvest.com/wiki/Indice_Bovespa_(IBOV11-BR)|name=Indice Bovespa (BVSP)|org=WikiInvest|date=August 2, 2009}}</ref> but is also called the Bovespa Index by many western news sources.<ref>{{cite web|url=http://www.bloomberg.com/markets/stocks/movers_index_ibov.html|name=BOVESPA|org=Bloomberg|date=August 2, 2009}}</ref> It is made up of the the market's most [[liquid]] stocks and is based on total [[return]]s weighted by their trading volume on the BOVESPA [[stock exchange]].
  
BOVESPA's Brazil Index 50 (IBrX-50) measures total return of the 50 most [[liquid]] stocks [[listed]] on BOVESPA weighted according to the [[market value]] of their outstanding [[shares]]. The IBrX-50 is intended as a [[benchmark]] index for [[investor]]s and [[portfolio]] managers and is rebalanced every four months.<ref>{{cite web|url=http://www.bovespa.com.br/Market/ibx50_i.shtml|name=BOVESPA Indices - Brazil Index 50 (IBrX 50)|org=BM&FBOVESPA|date=August 2, 2009}}</ref>
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B3's Brazil Index 50 (IBrX-50) measures total return of the 50 most [[liquid]] stocks [[listed]] on B3 weighted according to the [[market value]] of their outstanding [[shares]]. The IBrX-50 is intended as a [[benchmark]] index for [[investor]]s and [[portfolio]] managers and is rebalanced every four months.<ref>{{cite web|url=http://www.bovespa.com.br/Market/ibx50_i.shtml|name=BOVESPA Indices - Brazil Index 50 (IBrX 50)|org=BM&FBOVESPA|date=August 2, 2009}}</ref>
  
 
== Contract Volume ==
 
== Contract Volume ==
Line 38: Line 48:
 
|'''Total Annual Volume'''*  
 
|'''Total Annual Volume'''*  
 
|'''Percent Change'''
 
|'''Percent Change'''
 +
|- align="left" style="background:#EEEEEE;"
 +
|2018
 +
|2,574,073,178
 +
|42.26%
 +
|- align="left" style="background:#EEEEEE;"
 +
|2017
 +
|1,809,358,955
 +
|21.7%
 +
|- align="left" style="background:#EEEEEE;"
 +
|2016
 +
|1,487,305,788
 +
|9.5%
 
|- align="left" style="background:#EEEEEE;"
 
|- align="left" style="background:#EEEEEE;"
 
|2015
 
|2015
Line 87: Line 109:
 
|'''(-) 11.6%'''
 
|'''(-) 11.6%'''
 
|}
 
|}
 
== Key Developments ==
 
 
*BM&FBovespa launched a new clearing house on August 18, 2014, after four years of developing the platform. The exchange first transfered exchange-traded and over-the-counter derivatives to the new clearing house, and will follow that with equities in 2015. The clearing house completes a R$1.5bn project to overhaul Brazil’s trading infrastructure. BM&FBovespa's chief operating officer Cícero Vieira said the lower margin requirements of the new clearing house would free up a total of R$20bn in the market. BM&FBovespa is also planning to sell a blueprint for the clearing house's technology to three other emerging market countries.<ref>{{cite web|url=http://www.ft.com/intl/cms/s/0/aa333c7a-2600-11e4-9bca-00144feabdc0.html#axzz3Al6ag1SK|name=BM&FBovespa to launch clearing house|org=The Financial Times|date=August 18, 2014}}</ref>  The new clearinghouse includes exchange-traded and OTC derivatives; equities and corporate bonds; spot FX; and federal government bonds in a single clearinghouse and unites all four existing clearing houses. Previously all of these markets used separate clearinghouses.<ref>{{cite web|url=http://www.bmfbovespa.com.br/en-us/bmfbovespa/media-room/Releases/2014/BMFBOVESPA-Clearinghouse-starts-operating-20140818.aspx?tipoNoticia=32&idioma=en-us|name=BM&FBOVESPA Clearinghouse starts operating|org=BM&FBOVESPA|date=August 18, 2014}}</ref>
 
 
*In March of 2011, it became known that [[Bolsa Mexicana de Valores]] (BMV), the Mexican stock exchange, was in “very advanced” talks with its Brazilian counterpart BM&FBovespa over an order-routing agreement expected to increase [[trading]] [[volume]]s between Latin America’s two largest bourses significantly.<ref>{{cite web|url=http://www.ft.com/cms/s/39cf78f0-59f7-11e0-ba8d-00144feab49a,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F39cf78f0-59f7-11e0-ba8d-00144feab49a.html&_i_referer=http%3A%2F%2Fwww.marketswiki.com%2Fmwiki%2FMain_Page|name=BMV In Talks With Bovespa Over Routing|org=FT.com|date=March 30, 2011}}</ref>
 
 
*In 2011, BM&FBOVESPA and [[CME Group]] launched a jointly developed new [[trading platform]] to handle trading of [[stock]]s, [[futures]] and [[options]] as well as [[currencies]] and [[government bonds]].<ref>{{cite web|url=http://www.ft.com/cms/s/0/4ccb412c-544b-11de-a58d-00144feabdc0,dwp_uuid=50b45d26-5b63-11da-b221-0000779e2340.html|name=Brazil BM&FBovespa ups CME stake on high-speed bet|org=Reuters|date=February 26, 2010}}</ref> BM&FBOVESPA also agreed to increase its [[shareholder]] stake in CME Group to 5 percent, from 1.8 percent, with an estimated $620 million [[investment]]. Its total stake in CME Group is now $1 billion.<ref>{{cite web|url=http://www.businessweek.com/news/2010-02-12/bm-fbovespa-to-raise-stake-in-cme-start-platform-update1-.html|name=BM&FBovespa to Raise Stake in CME, Start Platform|org=Bloomberg|date=February 26, 2010}}</ref><ref>{{cite web|url=http://www.ft.com/cms/s/0/0e8cade6-183c-11df-9256-00144feab49a.html|name=São Paulo exchange raises CME stake|org=Financial Times|date=February 26, 2010}}</ref> As part of the agreement, CME Group also took a 4.9% equity stake in BM&FBOVESPA.
 
 
*BM&FBOVESPA called a halt to all [[open outcry]] exchanges trading on June 30, 2009 and shifted to [[electronic trading]] of its high-volume [[interest rate]] futures contracts. Analysts said the move allowed the exchange to attract more sophisticated automated traders. It subsequently opened offices in London to go with other foreign outposts in New York and Shanghai.<ref>{{cite web|url=http://www.ft.com/cms/s/0/4ccb412c-544b-11de-a58d-00144feabdc0,dwp_uuid=50b45d26-5b63-11da-b221-0000779e2340.html|name=BM&F Bovespa challenges global exchanges|org=Financial Times|date=August 2, 2009}}</ref>
 
  
 
== Key People ==
 
== Key People ==
Line 102: Line 114:
  
 
*[[Pedro Parente]], Chairman of the Board
 
*[[Pedro Parente]], Chairman of the Board
*[[Marcelo Fernandez Trindade]], Vice Chairman of the Board
+
*[[Claudio Luiz da Silva Haddad]], Vice President, Independent Director
*[[Edemir Pinto]], CEO
+
*[[Gilson Finkelsztain]], CEO
*[[Eduardo Guardia Refinetti]], Executive Officer of Products and Investor Relations
+
 
*[[Cícero Augusto Vieira Neto]], Executive Officer of Operations, Clearing and Repository
 
*[[Cícero Augusto Vieira Neto]], Executive Officer of Operations, Clearing and Repository
 
*[[Luis Otavio Saliba Furtado]], Executive Director of Technology and Information Security
 
*[[Luis Otavio Saliba Furtado]], Executive Director of Technology and Information Security

Latest revision as of 14:53, 14 November 2019

RSM Banner 400x90.gif
B3
Logo-b3.png
Founded 2008
Headquarters São Paulo, Brazil
Key People Gilson Finkelsztain, CEO
Products BOVESPA Index, Brazil Index 50
Website www.b3.com.br/pt_br/
Releases Company News

Brazilian equities and derivatives exchange B3, formerly BM&FBOVESPA, is Latin America's largest exchange and the second largest in the western hemisphere.[1] It offers products from equities to spot commodities to interest-rate futures contracts. The exchange changed its corporate name from BM&FBOVESPA S.A. – Bolsa de Valores, Mercadorias e Futuros to B3 S.A. – Brasil, Bolsa, Balcão in June 2017. That name was created after the exchange acquired CETIP, the largest depository for private sector debt securities in Latin America, in March 2017.[2][3]

BM&FBovespa was created in 2008 by the merger of two existing exchanges, the Bolsa de Mercadorias & Futuros and Bolsa de Valores de Sao Paulo.

BM&FBovespa posted volume of over 2.5 billion derivatives contracts in 2018, according to the Futures Industry Association's survey of the world's leading derivatives exchanges, up 42 percent from 1.8 billion contracts, the previous year. [4]


History

BM&FBOVESPA was formed in 2008 by the union of two São Paulo-based securities exchanges - the São Paulo Stock Exchange (BOVESPA) and the Brazilian Mercantile and Futures Exchange (BM&F).[5]

BM&FBOVESPA called a halt to all open outcry exchanges trading on June 30, 2009 and shifted to electronic trading of its high-volume interest rate futures contracts. Analysts said the move allowed the exchange to attract more sophisticated automated traders. It subsequently opened offices in London to go with other foreign outposts in New York and Shanghai.[6]

The company has continued a strategy of expanding by buying minority stakes in other Latin American exchanges. It acquired its Brazilian rival, Cetip SA, in April of 2016, making it the dominant exchange in Brazil. It also purchased minority stakes in Chile’s Bolsa de Comercio de Santiago and Mexico’s Bolsa Mexicana de Valores SAB.[7]

BM&FBovespa became the top shareholder of the Bolsa de Valores de Colombia in July of 2016, buying 9.99 percent of the Colombian exchange for 44 million reais ($13 million).[8]

The bourse has said it wants to play a role in the financial integration of Latin America.

BM&FBovespa previously had an order routing agreement with CME Group and and developed a mutli-asset class platform that allowed CME Group customers to trade at BM&F through CME Globex. [9] However, it sold its 4 percent stake in CME Group on April 7, 2016 to raise funds to buy Cetip.[10]

BM&FBovespa launched a new clearing house on August 18, 2014, after four years of developing the platform. The exchange transferred exchange-traded and over-the-counter derivatives to the new clearing house, and followed that with equities in 2015. The clearing house completed a R$1.5bn project to overhaul Brazil’s trading infrastructure.[11] The new clearinghouse includes exchange-traded and OTC derivatives; equities and corporate bonds; spot FX; and federal government bonds in a single clearinghouse and unites all four existing clearing houses. Previously all of these markets used separate clearinghouses.[12]

In September of 2016 BM&FBovespa became the first exchange to join R3's distributed ledger consortium. The exchange will be part of a collaboration with R3 and more than 60 of the world’s largest financial institutions to develop commercial applications for ledger technology in the financial services industry, including Corda, R3's shared ledger platform.[13]

Key Products

B3's benchmark equity index is known in Brazil as the Indice Bovespa (IBovespa)[14] but is also called the Bovespa Index by many western news sources.[15] It is made up of the the market's most liquid stocks and is based on total returns weighted by their trading volume on the BOVESPA stock exchange.

B3's Brazil Index 50 (IBrX-50) measures total return of the 50 most liquid stocks listed on B3 weighted according to the market value of their outstanding shares. The IBrX-50 is intended as a benchmark index for investors and portfolio managers and is rebalanced every four months.[16]

Contract Volume

Year Total Annual Volume* Percent Change
2018 2,574,073,178 42.26%
2017 1,809,358,955 21.7%
2016 1,487,305,788 9.5%
2015 1,358,592,857 (-)4.4%
2014 1,417,925,815 (-)11.6%
2013 1,603,706,918 (-)2.0%
2012 1,635,957,604 9.0%
2011 1,500,444,003 6.1%
2010 1,413,753,671 54.5%
2009 920,375,712 --

2014

Exchange Volume Percent Change
Bolsa de Volares de São Paulo 790,094,482 (-) 13.3%
Bolsa de Marcadorias & Futuros 627,831,333 (-) 9.4%
BM&FBovespa 1,417,925,815 (-) 11.6%

Key People

Two months after the 2008 merger that formed BM&FBOVESPA, former BM&F CEO Edemir Pinto was appointed the group's new CEO.[17] Pinto joined BM&F in 1986 and served as CEO from 1999 until May 2008 after previously serving as Derivatives Clearinghouse Officer from 1987.

References

  1. About BM&FBOVESPA. BM&FBOVESPA.
  2. The birth of B3 - a world-class financial market infrastructure company. B3.
  3. BM&FBovespa and Cetip combine to form B3. Finextra.
  4. 2018 Annual Global Derivatives Volume Survey. Futures Industry Association.
  5. São Paulo exchange raises CME stake. Financial Times.
  6. BM&F Bovespa challenges global exchanges. Financial Times.
  7. BM&F Bovespa acquires 4.1% stake of Mexico bourse. MarketWatch.
  8. BM&FBovespa Buys Top Colombia Exchange Stake in Integration Push. Bloomberg.
  9. 2014 FIA Annual Global Futures and Options Volume: Gains in North America and Europe Offset Declines in Asia-Pacific. FIA.
  10. BM&FBovespa raises $1.25 billion from CME stake sale to buy rival. Reuters.
  11. BM&FBovespa to launch clearing house. The Financial Times.
  12. BM&FBOVESPA Clearinghouse starts operating. BM&FBOVESPA.
  13. BM&FBOVESPA Becomes First Exchange To Join R3 Distributed Ledger Consortium. MyInforms.com.
  14. Indice Bovespa (BVSP). WikiInvest.
  15. BOVESPA. Bloomberg.
  16. BOVESPA Indices - Brazil Index 50 (IBrX 50). BM&FBOVESPA.
  17. Chief Executive Officer Edemir Pinto. BM&FBOVESPA.