BM&FBOVESPA (BVMF) Equity Support
In addition to derivatives products, users connected to the BVMF Gateway 7.15.5 or higher can trade Cash, Forwards, and Options listed on the B3 (formerly BM&FBOVESPA) PUMA equity trading platform through X_TRADER® and related TT Client products. Current TT customers can access both derivatives and equities products through a single BVMF Gateway without any additional gateways, hosting fees in TTNET, or any additional market licenses for X_TRADER.
Supported Equity Products
Users can trade the following equities via BVMF Gateway 7.15.5 or higher:
- Stocks: Product names are appended as follows to
allow the user to distinguish between various stocks from the same
- O -- Other
- ON -- Common Stocks
- FF -- Common Forwards
- CF -- Common Forwards
- PN -- Preferred Shares
- Options: Appended with “_E” for Exercised Options
- Index: View only (non-tradeable products)
Note the following when supporting equity products in your environment:
- All equity products tick in Brazilian Reals and cents.
- Implied pricing on equity products is not supported by the Exchange.
- Stocks do not have an expiry date; however, strategies have expiration dates and they expire daily.
The gateway supports the following for B3 equity products:
- Order Types:
- Stop Limit
- Stop with Protection
- Minimum Volume
- Market on Close
- Order Restrictions (Time In Force)
- Cancel On Disconnect
- Account-based risk checking per contract (requires TT User Setup 7.17).
The gateway does not support the following:
- Strategy creation
- Termo trades
- Self-Trade Prevention
Uses can be configured in TT User Setup to “Avoid orders that cross” when connected to BVMF Gateway 7.15.5 or higher.
- Security lending contracts (BTC)
- Fixed income products
FIX Routing Sessions for Equity Access
Users can submit order for derivatives and equities products using the same BVMF Gateway, but separate order sessions are required. Desk and DMA Traders both can trade equity products via the gateway. Ensure that the exchange has provided a separate SenderComp ID credential for Bovespa access for equity products.
Using X_TRADER 7.17 or higher, one user can log in multiple times to the same TT Gateway. For B3, for example, this allows a single user to log in to the same BVMF Gateway once for derivatives products and a second time for equity products. Multiple gateway connections are configured per user by using TT User Setup 7.17.
For more details about configuring sessions on the gateway refer to Configuring the Order Server and Order Routers.
Equity Products in X_TRADER®
Bovespa equity contracts are listed as STOCK in the Product Types section of the X_TRADER Market Explorer. To support equity contracts, BVMF Gateway 7.17.5 and higher installs with the Product-Types GAL setting set to 34359738430 by default. After an upgrade to 7.17.30, use the Aconfig Utility to set this GAL setting to 34359738430.
The following parameters need to be configured in the [PriceServer] section in Hostinfo.cfg
Configures the type of data (i.e., products) to which the BVMF Gateway subscribes. You can subscribe to any market data that has a [BVMF_<multicast group>] section in the MulticastGroup.cfg file.
The value of this parameter must exactly match the value of a multicast group parameter in the MulticastGroup.cfg file. The BVMF Gateway uses MulticastGroup.cfg to determine how to connect to the UMDF price feed to subscribe to the specified data.
The following channels need to be enabled for equity products:
|#EquitiesReplayID||Enables TCP retransmission requests on the Price Server
for Bovespa equities products. When enabled, the Price Server will
attempt TCP recovery of missed data packets first before using a
snapshot or incremental refresh of the Order Book.
To enable, remove the hash symbol (#) and enter the FIX TCP session ID provided by the exchange. In the exchange credentials, B3 provides the FIX TCP session ID as a “SenderComp ID” in addition to the Sender Comp ID provided for FIX order sessions. This is an optional parameter.
BVMFTemplates.xml and BVMFEquitiesTemplates.xml
A separate BVMFEquitiesTemplates.xml file is required for trading equities products and is provided as follows:
- Clean installation: Installing the latest version of the BVMF Gateway provides the most recent BVMFTemplates.xml and BVMFEquitiesTemplates.xml files by default. These files are located in the <root drive>:ttconfig directory.
- Upgrade: When upgrading to the latest version of the gateway, the BVMF Gateway overwrites your existing BVMFTemplates.xml file with the most recent version. The BVMFEquitiesTemplates.xml will be installed by default after an upgrade to 7.17.5 or higher.
- Customer Advisory: If the exchange updates the BVMFTemplates.xml or BVMFEquitiesTemplates.xml file prior to a BVMF Gateway release, TT will issue a Customer Advisory with the most recent version. You must manually overwrite your existing file with the most current file.
This file has been modified to support equity products and overwrites your existing MulticastGroups.cfg file after an upgrade to 7.17.5 or higher.
This additional configuration file aids in managing price data; however, it does not require manual updates. Do not edit this configuration file.
Upgrades from BVMF Gateways version 7.14.x or prior are not supported. Customers must first upgrade to a BVMF Gateway 7.15.x or 7.16.x before upgrading to 7.17.
To support equity products after upgrading to gateway 7.17.5. or higher:
- Add the multicast channels to the [PriceServer] section in Hostinfo.cfg
- Configure the replay ID in Hostinfo.cfg
- Enable the STOCK Product Types GAL setting using the Aconfig Utility.
Refer to the BVMF Gateway release notes for a list of changes needed when upgrading to 7.15.5 or higher.