Ibovespa, how liquid?

Discussion in 'Trading' started by just21, Sep 8, 2009.

  1. just21


    BM&FBOVESPA Receives Regulatory Approval for Ibovespa Equity Index Futures Accessible by U.S. Participants Through CME Group's Electronic Trading Network
    SAO PAULO and CHICAGO, Aug. 28 /PRNewswire-FirstCall/ -- BM&FBOVESPA, the largest exchange in Latin America, and CME Group, the world's largest and most diverse derivatives marketplace, have announced that BM&FBOVESPA has received regulatory approval enabling market participants trading from a U.S.- based account to trade futures and options for the world renowned Ibovespa stock index. Participants can access the Ibovespa contract through CME Globex(®), CME Group's electronic trading network, beginning immediately.
    The listing is part of the order routing agreement that began last September that enables customers in Brazil to access CME Group products via the GTS electronic trading platform and CME Group customers to access BM&FBOVESPA products via CME Globex. To date, more than 4.5 million contracts have traded as a result of the partnership. Yesterday a record 97,000 contracts traded. Average daily volume in August has been 70,000 contracts.
    The two exchanges are also jointly developing products for customers. As part of the arrangement between the two exchanges, CME Group owns a 5 percent equity stake in BM&FBOVESPA and BM&FBOVESPA owns a 1.7 percent of CME Group.
    CME Group - As the world's largest 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 largest central counterparty clearing services in the world, which provides clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort®. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk in both listed and over-the-counter derivatives markets.
    The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex, E-mini and CME ClearPort are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. NYMEX and New York Mercantile Exchange are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group and its products can be found at www.cmegroup.com.
    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 worldwide in terms of market value, the second largest in the Americas, and the leading exchange in Latin America. In today's global scenario, in which responding quickly to transformation has become a competitive asset, BM&FBOVESPA is an attractive investment option with cost efficient trading fees. Among its broad range of trading products, the new Exchange offers equities, securities, financial assets, indices, interest rates, agricultural commodities, and foreign exchange futures and spot contracts. As a leader in the Latin American market of equities and derivatives, BM&FBOVESPA's mission is to act in the macroeconomic growth dynamic of the Latin American market and position, not only the Exchange, but also Brazil as an international financial hub for equities, commodities, and other financial instruments, with operational excellence and socially responsible attitudes.
    SOURCE CME Group
    SOURCE: CME Group
    Web site: http://www.cmegroup.com/
  2. Daal


    Whats the symbol?
  3. just21


    I cannot see it on the IB globex page.
  4. aradiel


    Well you can do the math:

    70,000 contracts * 57,000 (actual quote of the contract) / 1.85 (USD/Reais)

    = $ 2.156 bi
  5. just21


    No info from IB chat about when t will become available. Start lobbying...