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CME Gateway

Support for BM&FBOVESPA Products

Overview

CME Gateway Version 7.5.6 and higher supports trading of BM&FBOVESPA (Brazilian Mercantile & Futures Exchange Bovespa) Futures and Options products via the CME Globex electronic trading platform.

Available Products

Traders can trade futures and options contracts for all agricultural commodity, financial contract, and OTC market products available at the BM&FBOVESPA exchange. CME Group exchange customers must comply with and meet the registration requirements of BM&FBOVESPA. For a complete list of products, refer to the exchange web site.

CME Gateway Configuration

Trading is supported on the CME Gateway by enabling the price feed channels for BM&FBOVESPA subjects in the [price_session] section of the hostinfo.cfg file. To enable a channel, remove the # character to “uncomment” the corresponding FIX/FAST subject parameter.

Note

The CME Exchange multicasts market data for BM&F BOVESPA products using FIX/FAST mode only.

The FIX/FAST subject parameters for BM&FBOVESPA are included in a clean install of the hostinfo.cfg file. However, after an upgrade, you will have to manually update the hostinfo.cfg file with the BM&FBOVESPA parameters from the master file. For more information about updating a hostinfo.cfg file from the master file, refer to Master Files . The parameters for BM&FBOVESPA are shown in the following example.

Example

FASTSubject16=BMF_FUTURES

FASTSubject17=BMF_OPTIONS

Because there is a 14 channel limit on the CME Gateway Version 7.12.3 or higher, ensure that the CME Gateway used for trading BM&FBOVESPA products has enough capacity to add the two additional channels.

In the fast.cfg file, the price feed channels for the two BM&FBOVESPA product types are defined as follows: channel 24 for Futures and channel 25 for Options.

The channel definitions are provided by CME Group and included in the fast.cfg file installed on the CME Gateway. For more information regarding how the CME Gateway uses the fast.cfg file, refer to Example: fast.cfg.

Client Application Impact

X_TRADER® 7.4.9 or higher is required for trading BM&FBOVESPA products. Contracts are traded in Brazilian currency, so you need to add the exchange rate between the Brazilian Real and the US Dollar (USD) to the currency table in Guardian. For procedures to update the currency table, refer to the Guardian 7.x Online Help.

BM&FBOVESPA products are not eligible for the following exchange features:

  • Cancel on Disconnect (COD)
  • Mass Quotes
  • User Defined Strategies (UDS)
  • Request for Cross (RFC)
  • Request for Quote (RFQ)
  • Privately Negotiated Trades (PNT)
  • Spreads (prelisted multi-leg strategies): For any listed contract that represents multiple instruments, instrument details will not be disseminated.
  • Implied Trading
  • Good Till Cancel (GTC) orders
  • Good Til Date (GTDate) orders

BM&FBOVESPA Supported Order Types

The CME Gateway supports the following order types for all BM&FBOVESPA Futures and Options products:

  • Limit
  • Stop-Limit
  • Market-Limit
  • FAK

BM&FBOVESPA Unsupported Order Types

The exchange does not support the following order types available via CME Globex:

  • Market Order with Protection
  • Stop Order with Protection

Point Values for BM&FBOVESPA Products

You need to confirm the correct point value in the TT-Supported Product Database and manually update the Guardian product table, as needed. To confirm the correct point value for a product, refer to:

http://www.bmf.com.br/portal/pages/contratos2/ContratosPrincipal2.asphttps://www.tradingtechnologies.com/productdb/

Some BM&FBOVESPA products will not have working point values defined in the product table. Instead, the following products have their point values set using an exchange-defined formula that changes on a tick-to-tick or day-to-day basis:

  • DAP
  • DDI
  • DDM
  • DI1
  • FRC
  • FRM
  • FRP
  • SCC