May 13, 2013
SAO PAULO, May 13, 2013 /PRNewswire/ -- BM&FBOVESPA has now completed a month since the migration of its equities market to the PUMA Trading System, which is the Exchange's new and single multi-asset class system. The new platform was created and developed with CME Group as part of a strategic agreement between the two exchanges, which now gives them the capability to deploy the system with other strategic partners globally. The BM&FBOVESPA PUMA Trading System was brought about to transform several trading platforms into a single one, maintaining advanced technology, reducing latency significantly and increasing order processing time as much as thirtyfold. In August 2011, BM&FBOVESPA and CME Group completed the first phase of PUMA by launching the derivatives portion of the platform.
In this month alone, since the migration from Mega Bolsa to the BM&FBOVESPA PUMA Trading System there have been two BOVESPA segment records for messages and trades executed in a one-minute peak. On April 12 there were 385,374 messages per minute and 16,550 trades per minute; and on April 23 there were 427,479 messages per minute. In comparison, the record for Mega Bolsa (the old equities trading platform used since 1997) was on September 14, 2012, with a peak of 284,348 messages per minute and 10,350 trades per minute.
On April 17, the BM&FBOVESPA PUMA Trading Platform also received transactions from the expiration of options on Ibovespa, handling BRL 6.55 billion in the process. In this session, the financial total traded in the BOVESPA segment was equivalent to BRL 22.97 billion. Furthermore, on April 29 two new stocks began to be traded: Smiles and BB Seguridade, adding BRL 9.40 billion volume and 1,103,416 trades to the market total. On neither day did this trading have an impact on the overall market performance.
With the BM&FBOVESPA PUMA Trading System now responsible for the equities and derivatives segments, the Exchange has consolidated itself as a global reference point for trading risk control. The new system means that the Exchange now simultaneously offers seven market protection mechanisms (six types of price fluctuation tunnel and one volume tunnel) as well as pre-trade risk control. This definitively makes the Brazilian market one of the most secure in the world.
The BM&FBOVESPA PUMA Trading System is practical, simple and functional as it attends to both the individual investor who accesses several segments in a single environment, and the large institutional investors that require agility and low latency at all times. Despite these changes, the new platform's screens have been modified very little in comparison to the previous ones, in order to have less of an impact on those who trade on a daily basis.
BM&FBOVESPA S.A. – Securities, Commodities and Futures Exchange was created in 2008 with the integration between the Brazilian Mercantile & Futures Exchange (BM&F) and the Sao Paulo Stock Exchange (Bovespa). Together, the companies have formed the third largest exchange in the world in terms of market value. BM&FBOVESPA offers trading in equities on the cash, options and forward markets, and indices, interest rates, foreign exchange, agricultural and energy commodities on the futures, options, forward and swap markets, as well as other spot market transactions on gold, US Dollar and federal government securities. In order to provide investors with efficient and secure services, BM&FBOVESPA utilizes state-of-the-art technology. With its fully integrated business model BM&FBOVESPA is able to offer not only a sophisticated trading environment, but also registration, clearing, settlement, risk management, and central depository services. It also acts as the central counterparty for all of the transactions carried out in its markets by way of its four clearinghouses: equities, derivatives, securities, and foreign exchange.
About CME Group
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the world's leading central counterparty clearing providers, which offers clearing and settlement services across asset classes for exchange-traded contracts and over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk.
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SOURCE CME Group