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Routing to the Exchange

Network Overview

The BVMF Gateway provides access to the BVMF (BVMF) exchange products via the BVMF PUMA electronic trading platform by connecting to the following interfaces:

  • EntryPoint: The Order Server connects via FIX protocol 4.4 to the EntryPoint order routing interface.
  • Unified Market Data Feed (UMDF): The Price Server subscribes to and receives prices from the UMDF, which is a dual-feed multicast market data dissemination system based on FIX 5.0/FAST protocol.

BVMF Connectivity Options

BVMF offers four connectivity options for direct market access (DMA) to its PUMA electronic market data, order entry, and clearing platforms:

  • RCB
  • RCCF2
  • Internet VPN
  • Co-location

To connect to the BVMF Gateway and the exchange using one of these network connectivity options, you need to select a DMA service provider or Telecommunications (Telco) service provider.

RCB

The RCB (Rede de Comunicação BM&FBOVESPA) is a communications network that provides traders with DMA access to the BVMF trading and market data systems via the BVMF Gateway. Traders can connect directly to the RCB infrastructure using direct communications lines to BVMF, or by using services provided by a DMA vendor (e.g., TT) or Telco service provider. Traders can also connect through a brokerage firm, which provides the RCB network connectivity to the exchange via a BVMF Gateway.

RCCF2

The RCCF2 (Rede de Comunicação da Comunidade Financeira) or “Financial Community Communications Network 2” is the latest version of a shared IP/MPLS network administered by an external provider (Primesys Soluções Empresariais S.A.). This infrastructure provides customers with DMA access to the Exchange’s trading systems via VPN connections to BVMF Gateways. Traders still need to be part of a brokerage, but their connection to the UMDF and EntryPoint platforms via the BVMF Gateway is provided by Primesys.

Internet VPN

This option uses encryption between two points connected to the Internet to create secure communications “tunnels” between your trading environment and the BVMF network.

The basic technical requirements for establishing LAN-to-LAN VPN access to BVMF are as follows:

  • NAT support
  • IPsec support
  • 3DES encryption support
  • MD5 and SHA-1 support
  • GRE support (A GRE tunnel is necessary for multicasting)

Co-location

This connectivity option enables customer orders to be generated by an automated trading system (ATS) hosted on a server that is co-located with the exchange host and matching engine.

Bandwidth Requirements

Whichever service provider is selected, your DMA connectivity option must meet the following requirements established by BVMF:

  • Bandwidth between 10 Mbps and 1 Gbps. BVMF highly recommends a minimum of 10 Mbps for connections to the UMDF and EntryPoint platforms.
  • Low latency (i.e., directly linked to the BVMF network).
  • Various technological options to assure high availability (e.g., failover configurations).
  • Scalability of access and bandwidth.

Hardware and Software Requirements-TT

TT recommends all Gateway software be installed on server class machines. For server class machine specifications, refer to the TT Trading Systems – Hardware and Software Requirements document located on the TT Customer Portal.

Hardware and Software Requirements-Exchange

BVMF Gateways communicate with the exchange via a number of different options that can be either customer- or exchange-managed. Different hardware and circuits will be utilized and provided, depending on which solution is chosen.

Please refer to the exchange http://www.bmfbovespa.com.br/en-us/international-investors/opening-an-account/opening-an-account.aspx?Idioma=en-uswebsite for specific details.