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TheStreet Open House

PUMA Trading System: BM&FBOVESPA Celebrates A Month Of BOVESPA Segment Transactions At The New Platform

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.

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