BM&FBOVESPA held a public consultation into the rules for the selection, accreditation and performance of market makers for equity options, and after examining the suggestions and observations made by market participants it submitted the rules for analysis by the Securities and Exchange Commission of Brazil (CVM), which approved them with the understanding that non-resident institutions may also participate, observing the relevant regulations.
In light of this, BM&FBOVESPA hereby informs you of the competitive bidding process to select market makers for options on the stock of OGX Petróleo e Gás Participações S.A. (OGXP3) and Itaú Unibanco Holding S.A. (ITUB4) - both traded on the exchange market managed by BM&FBOVESPA in the BOVESPA segment – pursuant to Stage 1 of Competitive Bidding to select market makers in equity options and Ibovespa options.
The timeframe starts on this date for the delivery of proposals by the institutions that wish to participate in this bidding process to decide the institutions that shall be accredited by BM&FBOVESPA as market makers for options on the above-mentioned stocks. The timeframe ends on June 27, 2011.
Do you have doubts?
Further information can be obtained from the Equity Products Department by telephone at (+55 11) 2565-6329 and (+55 11) 2565-6435 or by email at fmopcoes@bvmf.com.br.
Bidding Program to Select Market Makers for Equity Options and Ibovespa Options
The bidding program has been developed to select market makers for options on the stock of ten companies and on the Ibovespa index, and should occur in 4 (four) stages:
Stage 1 – April 2011: options on the stock of OGX Petróleo e Gás Participações S.A. (OGXP3) and of Itaú Unibanco Holding S.A. (ITUB4).
Stage 2 – July 2011: options on the stock of BM&FBOVESPA S.A. – Bolsa de Valores Mercadorias e Futuros (BVMF3), of Usiminas Siderúrgicas de Minas Gerais S.A. – Usiminas (USIM5) and on Ibovespa (IBOV).
Stage 3 – September 2011: options on the stock of Banco Bradesco S.A. (BBDC3), Gerdau S.A. (GGBR4) and Banco do Brasil S.A. (BBAS3).
Stage 4 – November 2011: options on the stock of Cia. Siderúrgica Nacional (CSNA3), PDG Realty S.A. Empreendimentos e Participações (PDGR3), and Cyrela Brazil Realty S.A. Empreendimentos e Participações (CYRE3).