BM&FBOVESPA

Connect to BM&FBOVESPA

BM&FBOVESPA is Brazil's premier stock and futures exchange, offering a diverse range of futures and options. These cover interest rate, sovereign debt, commodity, equity index and FX products. The contracts listed on BM&FBOVESPA are available for trading through TT’s BVMF Gateway and also through the CME Globex® platform.

What's New

Compliance features

In response to recently issued European Securities and Markets Authority guidelines, TT’s 7.16.1 gateways allow an administrator to configure the number of orders per second that a trader may send to a TT gateway.

Trader-based start of day records

With the 7.16.9 gateways, administrators will be able to specify on a per-trader basis whether start of day (SOD) records should be created.

Account-based position limits

The 7.16.9 gateways, along with TT User Setup 7.4.8, will allow administrators to put in place position, margin and max order size limits on a per-clearing-account basis.

Forward point strategy contracts support

TT's BVMF 7.16.0 Gateway now supports the forward point strategy contracts on the U.S. dollar (FRP0 and FRP1) and Ibovespa (FWI0).

Direct access to BM&FBOVESPA

TT now provides direct connectivity to Latin America’s largest exchange, Brazil’s BM&FBOVESPA. TT’s new BVMF Gateway provides access to the exchange's next-generation Puma matching engine, which is based on the CME Globex electronic trading platform. This gateway provides direct access to the exchange and allows execution of strategies on servers located in TT’s TTNET™ São Paulo data center, which is co-located with BM&FBOVESPA's matching engine. Make use of TT's full suite of trading and analytics products to participate in this fast-growing market.

Featured Products

Interest rate products

One-day inter-bank deposit futures and options.

Commodities

Corn, Arabica coffee and soybeans.

Equity indexes

Ibovespa and Mini Ibovespa futures and Brazil Index 50 futures.

Foreign exchange (FX)

U.S. dollar futures and options.

Unique Features

Auction support

Know which markets are in an auction phase. Make use of the new “On Auction” Time-In-Force with any market order during an auction phase. See the theoretical opening price, theoretical opening quantity and imbalance quantity published by the exchange during this phase. News messages about the start of the auction and its extension are available in the X_TRADER Audit Trail.

Detail depth

The BVMF Gateway allows the display of up to 50 individual orders on each side of the market.

Counterparties

See the broker code associated with a bid or offer in the detailed depth view in the X_TRADER Market Grid. Also see the broker code associated with each side of a trade in the X_TRADER Time and Sales window. Traders can customize the display name, text and/or background colors associated with each broker code in these windows. Traders can also create their own summary reports of the volume traded by brokers in a given market.

Cross order support

Desk traders can submit cross orders via a BVMF Gateway.

Resting market orders

See any market bids/offers resting in the book during pre-open and auction phases.

Number of orders

In aggregate depth view, see the number of orders that comprise the total bid/ask quantity at a price level. In thinly traded markets, traders can use this to decide whether to lean on a resting quantity. For a given market, this information can also be used to get a sense of the "pit".

Resources

Spreading Opportunities

Equity indexes

The Ibovespa and Index-50 futures products are perfectly suited for hedging and enhancing performance of equity portfolios. They can be spread against the benchmark equity futures on BM&FBOVESPA, CME, Eurex and NYSE Liffe. They also offer arbitrage opportunities against the underlying equities that comprise the index.

Interest rates: STIRs

The benchmark One Day Inter-Bank Deposit derivatives products offer excellent spreading opportunities against liquid short-term interest rate (STIR) products on CME, Eurex, Montréal Exchange (MX) and NYSE Liffe.

Foreign exchange (FX)

The very liquid U.S. dollar futures product offers excellent spreading opportunities against the Brazilian real futures on CME.

Coming Soon

Expired orders handling

TT’s 7.16.9 gateways, along with FIX Adapter 7.8.5, will provide back office users with the ability to distinguish order expirations from user-generated order cancellations.

Proxy trader account number sharing

TT’s 7.17.0 gateways will allow proxy (TTORD) traders sharing an order book to manage orders routed using the same account number.