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Market Passport

Market information

Supporting you

Key market information

  • Local currency

    Brazilian
    Real (BRL)

  • 2017 GDP

    USD
    2,055bn

  • Time zone

    GMT
    -3 hours (Brazilia)

  • Numbering
    system

    ISIN
    and local numbering system

  • Main stock
    exchange index

    IBOVESPA

Key market figures

Market capitalisation USD 955bn
Number of listed companies 343
2017 value of share trading USD 667bn
Number of ETFs listed 15
2017 value of bonds trading USD 0.24bn
Number of bonds listed 335
Number of futures contracts traded in 2017 n/a
Number of options contracts traded in 2017 682m

Local market infrastructures

  Equities Corporate bonds Government bonds
Trading BM&FBovespa OTC OTC
Clearing BM&FBovespa CETIP SELIC
Settlement and custody BM&FBovespa CETIP SELIC
Cash leg SPB/BACEN SPB/BACEN SPB/BACEN

Local market authorities and regulators

  • The Comissão de Valores Mobiliários regulates the securities market, including the stock exchange
  • Banco Central do Brasil regulates the cash and fixed income markets
  • The National Monetary Council sets the guidelines for monetary, credit and foreign exchange policies
  • The National Association of Financial Market Institutions is a non-profit civil entity working towards the integration of Brazil’s National Financial System

Market practices (ALL TIMES ARE LOCAL)

SECURITIES
Settlement cycles
Equities T+3
Spot options T+1
Bonds OTC: T+0
Net: T+0/T+1
Gross: T+0
Gov. bonds T+0/T+1
Cash T+1
Cut-off times
Equities 3.00pm
Bonds 6.30pm
10.15pm for SISBEX
Cash 6.00pm
 
Omnibus account/securities No
Omnibus account/cash Yes
Pre-matching Yes
Irrevocable pre-matching No
Short selling Yes
Cash settlement/DVP Yes
Securities lending Yes
Foreign ownership limits Yes
Tolerance limits

BRL 70.

Examples of market penalties

Penalty fee of 1% for failures on T+3 and additional penalty fee of 10% on T+4.

Exception made for failures caused by previous failures from other parties.

Buy-in practice

Buy-in launched at T+4 10.00am by BM&FBovespa and to be executed by T+6.

This buy-in order execution has to be confirmed by the broker to BM&FBovespa by T+7. If the buy-in order cannot be executed, it will be valid for the next 3 days after the restart of trading of the security.

BNP Paribas customers benefit from free access to more detailed market information on our NeoLink webportal. Click here to access the Market Profiles or contact your relationship manager.

Supporting you

BNP Paribas Securities Services in Brazil

We are a top-rated securities services provider in Brazil, implementing innovative solutions for our clients, and backed by the financial strength of the BNP Paribas group, one of the G-SIBs in the world (global systemically important banks).

Our main services

Core

We offer local custody to domestic and foreign institutions. Our core services include settlement, safekeeping, corporate actions, proxy services, cash and collateral management.

Market-specific

  • AutoForex solution for more efficient cash management and operations, covering late payments and time differences
  • Flexible cash account structures and real-time cash reporting in SWIFT messages
  • Broker-to-Custody offer allowing an integrated brokerage and custodian solution
  • Asset and fund services for local and global portfolio management companies

What makes us different

  • Direct participant of B3 (Brazilian CSD for equities and corporate bonds) and Selic (Brazilian CSD for government bonds) for local custody
  • Efficient custody platform offering over 98% STP settlement
  • Risk management as part of our culture
  • One-stop-shop BRL settlement solution, saving clients from the complexity of dissociating securities settlement from the supporting foreign exchange deals, in a highly regulated forex market
  • Innovative solutions to adapt to new regulations, such as IRS NI 1634 and NI 1680

Selected market recognition

  • Global Custodian Agent Banks Emerging Markets Survey (2016): Global, Market and Category Outperformer in Brazil
  • Global Investor Sub-Custody Survey (2018): Winner Multi-market Americas for Brazil

A sound partner

BNP Paribas Securities Services was established in Brazil in 2010 as a department of Banco BNP Paribas Brasil SA. BNP Paribas Securities Services has close to 80 experts covering custody and fund services activities.

Contact

For more information, please contact your relationship manager or
Aline Dealtry, Relationship Manager
aline.dealtry@br.bnpparibas.com

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