Market Development Initiatives

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Alexia Francis
6 years ago
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1 Market Development Initiatives Client and Business Development August Public

Securities Lending Business opportunities Operational Open Interest BRL Billions Improvements - IPN v.2 Uncertified offers * Until Jul/16 Give up (borrowers) Intraday average rates Regulatory 6.9 15.

2 Securities Lending Business opportunities Operational Open Interest BRL Billions Improvements - IPN v.2 Uncertified offers * Until Jul/16 Give up (borrowers) Intraday average rates Regulatory Local clients Request to SUSEP Insurance Company * Approach to Ministry of Social Secutiry - RPPS Non-residents Request to ESMA and SEC UCITS and 1940Act Funds (%) Lenders 1% (%) Borrowers 2% 4% 1% Dissemination 2% 22% 36% 34% Events attendance (ex.: ISLA, RMA, PASLA) Annual roadshows in US and Europe Interactions with local clients that still doesn t use the service 39% 59% Source: BM&FBOVESPA jul/16 2

3 Market Making Program Equity Options Options with Market Making Program 24 single stock options* 1 ETF option (BOVA11) 1 Index Option (Ibovespa) single stock option + ETF option (BOVA11) ADV (# Million) Index Option (Ibovespa) ADTV (BRL Million) ADV (# Thousand) ADTV (BRL Million) % 50% 40% 30% 20% 10% 0% Investors breakdown on option with MM (%) 1% 7% 7% 1% 2% 13% 4% 23% 37% Deconcentration Before MM Programs, volumes on options were highly concentrated on PETR and VALE : % MM options in ADTV 3% 36% 21% 25% 5% 6% 35% 8% 45% 13% 53% 14% % of ADTV (BRL) % of ADV (#) 16% 14% 12% 10% 8% 6% 4% 2% 0% Source: BM&FBOVESPA jul/16 *ITUB4, USIM5, BVMF3, BBDC4, GGBR4, BBAS3, CSNA3, CYRE3, ABEV3, CIEL3, BRFS3, BBSE3, KROT3, OIBR3, CCRO3, CMIG4, TIMP3, UGPA3, VIVT4, BRML3, LREN3, JBSS3, CSAN3, QUAL3 3

Non-Sponsor BDR Highlights 4 depository institutions: Bradesco, Citibank, Deutsche Bank and Itaú Unibanco 122 programs available for trading 121 based on US-companies 1 based on LATAM

4 Non-Sponsor BDR Highlights 4 depository institutions: Bradesco, Citibank, Deutsche Bank and Itaú Unibanco 122 programs available for trading 121 based on US-companies 1 based on LATAM Underdevelopmentinitiatives To accept non-sponsor BDRs as collateral Non-sponsor BDR lending Treatment of trading halt in case of corporate actions New reference price methodology ADTV BRL Millions Open Interest (12 months) BRL Billions * Since 05,oct ** Until jul/ * ** Source: BM&FBOVESPA jul/16 4

ETF EXCHANGE TRADED FUND Highlights ETF Managers: Banco do Brasil, BlackRock, Caixa and Itaú Unibanco 15 ETFs tracking local and foreign equities indices 13 ETFs

managers to list other local and foreign ETFs Courses, workshops and events for the dissemination of the product ADTV BRL Millions AuM (12 months) BRL Billions *

5 ETF EXCHANGE TRADED FUND Highlights ETF Managers: Banco do Brasil, BlackRock, Caixa and Itaú Unibanco 15 ETFs tracking local and foreign equities indices 13 ETFs tracking local equities indices 2 ETFs tracking foreign index (S&P500) Underdevelopmentinitiatives To accept International ETFs as collateral Bring new ETF managers to list other local and foreign ETFs Courses, workshops and events for the dissemination of the product ADTV BRL Millions AuM (12 months) BRL Billions * Until jul/ * Source: BM&FBOVESPA jul/16 5

6 Client and Business Development August Public

MARKET MAKERS FOR DERIVATIVES Market Makers Achievements Trading volumes

.. in addition to further 50 institutions mapped.

7 MARKET MAKERS FOR DERIVATIVES Market Makers Achievements Trading volumes growth Spreads decrease Higher open interest Lengthening of price curves... in addition to further 50 institutions mapped. Programs Inflation Spread Futures FX Futures Options on U.S. Dollar Commodities Futures Options on Commodities Options on IDI Options on Stocks and Indices IBOVESPA Futures S&P 500 Futures Ongoing To be announced Evaluating 7

8 COMMODITIES MARKETS DEVELOPMENT Key developments Market Maker Anonymous Markets Incentive Programs Contango Project Open Position Limits NDFs on Commodities Roadshows USA and Europe 8

9 INTEREST RATES AND FX PRODUCTS Enhancements and Expansion of Products Inflation Family Govt Bonds NTN-B Futures DI Index Futures ETF IF Options on IPCA DAP¹ DI x IPCA Swap Options on D11/D12/D 13/D14 DI1 DI x Pre Swap Benefits of CORE (Integrated Risk) Option on IDI OC1³ Options on ITC FRA² Currency Swap DOL Rollover OTC Derivatives DOL Mini DOL Mini Rollover Options on DOL EUR Futures JPY Futures GBP Futures Spot Dollar FX Futures Options on EUR Options on JPY Options on GBP Main contract Adjacent contract Contracts to be assessed Markets being diagnosed ¹ Inflation Spread Future contract. ² Forward Rate Agreement on coupon. ³ One-day repos (Selic Futures) 9

10 INFLATION SPREAD FUTURES (DAP) Operating figures 100,000 contracts in open interest achieved on Aug 1 st Over 160,000 contracts traded on 11 different maturities Trades Julho July Junho June May Maio Julho July Junho June May Maio Contracts (thousands) Open Interest Contracts (thousands) Q16 Q18 Q20 Q22 Q24 Q16 Q18 Q20 Q22 Q24 K17 K19 K21 K23 K17 K19 K21 K23 10

11 INFLATION SPREAD FUTURES (DAP) Operating figures 100,000 contracts in open interest achieved on Aug 1 st Over 160,000 contracts traded on 11 different maturities Open Interest equivalent to NTN-B 800 BRL (thousands) Quantity (thousands) Q24 K23 Q22 K21 Q20 K Q K May-16 May-16 May-16 Jun-16 Jun-16 Jun-16 Jul-16 Jul-16 Jul-16 Q6 0 May-16 May-16 May-16 Jun-16 Jun-16 Jun-16 Jul-16 Jul-16 Jul-16 11

12 FIXED INCOME ETF Products Status Product Regulation Concluded Trading and Post-trading systems ready for listing National Treasury preparing to select a fund manager to run the Sponsored FI ETF Fund managers evaluating the market and available benchmark indices 12

13 / 4418 / 4207/4834/7938 ri@bmfbovespa.com.br 13

4Q13 Earnings Presentation

4Q13 Earnings Presentation February 14, 2014 Forward Looking Statements This presentation may contain certain statements that express the management s expectations, beliefs and assumptions about future