Some 64.6m options contracts changed hands for the month as a whole, of which all but 26,000 were single stock options. The rest were options on the bourse’s leading iBovespa share index. The volumes are up 68% on June 2009’s figure of 38.5m.
This compares to the all time high of 87.5m contracts traded in March this year. Options on all other asset classes, including options on Ibovespa futures (which are a more popular investment tool) have yet to be reported.
Last week, the bourse announced a new membership class and attendant fee structure for high frequency traders. BM&F has been keen to target HFT traders as it ramps up infrastructure investment in support of collocation and direct market access.
Reuters today reported that the bourse was planning a $612m bond issue to cover general corporate costs, as well as financing for its stake in strategic partner CME Group.
High frequency traders will receive discounted day trading fees for US Dollar and iBovespa futures contracts, which TRADEfees suggest will be as follows:
US Dollar
0-3,500 contracts $0.40
3,501-7,000 contracts $0.20
7,001-14,000 contracts $0.15
14,001-28,000 contracts $0.12
28,001+ contracts $0.10
Ibovespa
0-1,800 contracts R$0.40
1,801-3,600 contracts R$0.20
3,601-5,400 contracts R$0.15
5,401-9,000 contracts R$0.12
9,001+ contracts R$0.10
Presidential roadshow
rolls into town
Separately, the bourse’s planned roadshow events for each of Brazil’s presidential candidates for October’s elections will continue in July. Marina Silva, the Green Party candidate and former environment minister, will meet international financial executives at New York’s Palace Hotel on July 22.
Frontrunner Dilma Rousseff, President Lula’s chief of staff and the Workers’ Party’s anointed successor, met international investors in May, when more than 600 participants attended. BM&F has invited all the Brazilian presidential candidates to participate in future events, to take place in either New York or London.
Tom Osborn +44 207 779 8361 tosborn@fow.com