The Brazilian Mercantile and Futures Exchange (Bolsa de Mercadorias & Futuros, BM&F)^[1] is Brazil's derivatives exchange, based in São Paulo. It was formed in 1991 with the merger of the São Paulo Commodities Exchange, created in 1971, and the Brazilian Mercantile and Futures Exchange (BM&F) established in 1985. In 1997 a second merger joined BM&F and the Rio de Janeiro-based Brazilian Futures Exchange. Derivatives Exchange is an exchange for trading derivatives. ... The title of this article contains the character ã. Where it is unavailable or not desired, the name may be represented as Sao Paulo. ... 1991 (MCMXCI) was a common year starting on Tuesday of the Gregorian calendar. ... 1971 (MCMLXXI) was a common year starting on Friday (the link is to a full 1971 calendar). ... This article is about the year. ... 1997 (MCMXCVII in Roman) is a common year starting on Wednesday of the Gregorian calendar. ... Ipanema beach, in the South Zone, immortalised by Tom Jobim and Vinicius de Morais song The Girl from Ipanema Rio de Janeiro (meaning River of January in Portuguese), pron. ...

Operations and Structure

BM&F trades US dollar denominated futures on feeder cattle, robusta coffee, cotton, crystal sugar, and futures and options on live cattle, Arabica coffee, corn, and soybeans. Gold futures and options are also traded. Spot price contracts are traded on Arabica coffee. Forward contracts are traded on 250-gram gold, and spot contracts on 10-gram and 0.225-gram gold. Futures and options are traded on the Ibovespa stock market index, and options on the flexible Ibovespa. BM&F trades US dollar futures and options, flexible US dollar options, and an array of interest rate futures and options. In 2000, the exchange joined the GLOBEX Alliance,^[2] and BM&F acquired the French NSC screen trading system. Some agricultural products continue to be traded by open outcry. Trading is conducted from Monday to Friday, from 9 a.m. to 5 p.m. with after-hours sessions from 2:45 p.m. to 8 p.m. After-hours transactions are cash settled on T + 2. Binomial name Bos taurus Linnaeus, 1758 Cattle (called cows in vernacular usage, kine archaic, or ky as the Scots plural of coo) are domesticated ungulates, a member of the subfamily Bovinae of the family Bovidae. ... A futures contract is a form of forward contract, a contract to buy or sell an asset of any kind at a pre-agreed future point in time, that has been standardised for a wide range of uses. ... In finance, an option is a contract whereby the contract buyer has a right to exercise a feature of the contract (the option) at future date (the exercise date), and the writer (seller) has the obligation to honour the specified feature of the contract. ... This article discusses the coffee plant; for information on the beverage see coffee (drink). ... Binomial name Glycine max Soybeans (US) or soya beans (UK) (Glycine max) are a high-protein legume (Family Fabaceae) grown as food for both humans and livestock. ... General Name, Symbol, Number gold, Au, 79 Chemical series transition metals Group, Period, Block 11, 6, d Appearance metallic yellow Atomic mass 196. ... The spot price of a commodity or a security or a currency is the price that is quoted for settlement (payment and delivery) of the transaction immediately. ... A forward contract is an agreement between two parties to buy or sell an asset (which can be of any kind) at a pre-agreed future point in time. ... A stock market index is a listing of stocks, and a statistic reflecting the composite value of its components. ... The Bovespa Index (Índice Bovespa) is an index of 50 stocks that trade on the São Paulo Stock Exchange (Bovespa). ... This article is about the year 2000. ... Open outcry occurs on a commodities exchange when traders shout their buy and sell orders. ...

Performance and Financial Information

The average volume of contracts traded daily at BM&F during 2006 is 1.043 million, in contrast to an average of 794.9 thousand in 2005 – a growth of 31.31%. In January 2006, 1.057 million contracts were traded daily, on average, (during the same period in 2005, the average was 661.1 thousand); in February this year, the average was 1.028 million contracts traded every day (in February 2005, the average was 670.7 thousand). An increase was also registered in open interest: the volume rose from 10.278 million on the last day of 2005 to 10.859 million on the last trading day in February of 2006, a 5.65% growth. Volume, also called capacity, is a quantification of how much space an object occupies. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ...

Also in 2006, 4,309 agricultural derivative contracts were traded daily, on average, in contrast to 4,264 in 2005 – a growth of 1.06%. The number of open interests in this segment rose 13.23%: from 44,559 open interests at the end of 2005 to 50,453 at the end of February 2006.^[3]

External links

BM&F Official Website[1]

Notes

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See also

• Bovespa - largest of Brazil's nine stock exchanges
• Rio de Janeiro Stock Exchange - Brazil's second largest exchange