In September 2009, equity markets (Bovespa segment) traded BRL 114.23 billion, totaling 7,143,911 trades. In August, total volume reached BRL 112.01 billion, with 7,233,428 trades. Bovespa segment highlights for September include a financial volume record set by BM&FBOVESPA's four Exchange Traded Funds (ETFs): BRL 557.86 million, in contrast to BRL 451.14 million in August; and five trading records registered via Home Broker, among them a record volume of BRL 44.20 billion in September, in comparison to BRL 42.54 billion in August.
Derivatives markets in the BM&F segment (including financial and commodities derivatives) totaled 31,505,077 contracts and BRL 2.12 trillion in volume in September. That compares to 28,907,308 contracts and a volume of BRL 1.88 trillion in August. The daily average of contracts in the derivatives markets in September was 1,500,242, compared to 1,376,538 in the previous month. BM&F segment highlights for the month of September includes DMA trading via co-location, which totaled 147,074 contracts traded in September, in contrast to 53,410 contracts traded in August; and the CME Group Globex – GTS order routing system that registered 1,785,549 contracts traded in September, in comparison to 1,460,410 contracts traded in the previous month.
Volumes and Trades – Equities, Equities Derivatives and Fixed Income
The Bovespa markets reached a total volume of BRL 114.23 billion in 7,143,911 trades in September, with daily averages of BRL 5.43 billion and 340,186 trades, respectively. In August, total volume reached BRL 112.01 billion in 7,233,428 trades. August daily averages reached BRL 5.33 billion and 344,449 trades.
The most traded stocks in September were: Petrobrás PN, with BRL 11.91 billion; VALE PNA, with BRL 10.95 billion; Itauunibanco PN, with BRL 3.60 billion; BMFBovespa ON , with BRL 3.35 billion; and Petrobras ON , with BRL 3.22 billion.
Indexes
The Ibovespa ended September 8.90% higher at 61,517 points. Best performing stocks were: MMX Miner ON (+29.76%); Brasil ON (+20.14%); Rossi Resid ON (+19.15%); JBS ON (+17.90%); and Klabin S/A PN (+15.07%).Worst performing stocks were: Cosan On (-7.34%); TAM S/A PN (-4.37%);CPFL Energia ON (-3.94%); Cemig PN (-2.70%); and Cyrela Realt ON (-2.70%).
In addition to the Ibovespa, the remaining stock exchange indexes also ended September up: IBrX-50 (+9.62% at 8,690 points); IBrX-100 (+9.82% at 19,573 points); ISE +9.76% at 1,764 points); ITEL (+10.45% at 1,352 points); IEE (+4.58% at 22,330 points); INDX (+7.10% at 8,975 points); IVBX-2 (+5.22% at 5,048 points); IGC (+9.62% at 6,060 points); ITAG (+10.26% at 7,975 points); Small Cap (+7.37% at 968 points); MidLarge Cap (+9.96% at 872 points); Iconsumo (+7.14% at 1,189 points); and Imobiliário (+2.80% at 855 points).
More information about Indexes
Market Value
Market capitalization of the 386 companies listed on the BM&FBOVESPA in September was BRL 2.09 trillion, compared to BRL 1.93 trillion concerning the same number of companies listed in August.
Special Corporate Governance Levels
The 158 companies part of the BM&FBOVESPA's special corporate governance levels at the end of September represented 61.16% of the market capitalization, 76.25% of trading volume, and 80.38% of the trades in the spot market.
Market Participation
The spot market accounted for 93% of total trading volume in September, followed by the options market, with 4.7%, and by the forward market, with 2.3%. The after-market traded BRL 1.46 billion with 118,653 trades, compared to BRL 1.41 billion and 120,993 trades in the previous month.
Investor Participation
In September, foreign investors were responsible for 32.70% of the total volume, compared to 33.31% in August. Individual investors came next, with 31.01%, compared to 30.97%; institutional investors had 25.90%, compared to 27.20%; financial institutions, with 8.20%, compared to 6.35%; companies, with 2.12%, the same as in the previous month; and other types of investors, 0.07%, compared to 0.06%.
Foreign Investment
The net flow of foreign investment into the Brazilian stock market in 2009 as of September 30 is a positive BRL 29.42 billion, which is the combined result of the amount of BRL 11.41 billion in acquisitions carried out by foreign investors in the stock offerings and the positive balance of BRL 18 billion in direct trading at BM&FBOVESPA.
In September, the financial volume traded by foreign investors in the stock market is a positive BRL 4.03 billion, which is the net balance between stock sales of BRL 35.22 billion and stock purchases of BRL 39.25 billion.
The foreign investor participation in stock offerings, including IPOs, represented 55.6% of the total BRL 20.52 billion in transactions related to the publication of the closing announcement dates ending on October 2, 2009.
Investment Clubs
The BM&FBOVESPA ended August with 2,870 investment clubs and 46 new registrations. Total liquid asset reached BRL 11.17 billion and the number of participants reached 143,264, according to the latest available August data.
Home Broker
In September, trading via Home Broker registered the following records: volume totaled BRL 44.20 billion, compared to BRL 42.54 billion in August; average daily volume reached BRL 2.10 billion, compared to BRL 2.02 billion; total number of trades reached 4,474,883 compared to 4,392,467 in August; the daily average of trades stood at 213,090, in contrast to 209,165; participation in the stock market's total volume in September was 19.40%, compared to 19% in August.
The total number of trades reached 31.30%, compared to 30.40%. The average amount per transaction totaled BRL 10,860, compared to BRL 10,720. The number of investors placing orders stood at 215,861, compared to 211,316 in August. In September, the number of brokerage firms offering Home Broker remained at 68.
Securities Lending
The financial volume of stock lending transactions in the Securities Lending Bank (BTC) reached BRL 28.74 billion in September, in comparison to BRL 25.85 billion in August. The total number of trades reached 63,477, compared to 61,990 in the previous month.
Fixed Income
In September, the trading volume for the secondary market, counting both the Bovespa Fix and the Soma Fix, totaled BRL 66.83 million, compared to BRL 26.80 million in August. Of this total, debentures accounted for BRL 3.41 million, Real Estate Receivables Certificates (CRI) accounted for BRL 4.21 million, and Credit Receivables Investment funds (FIDC) accounted for BRL 59.21 million.
ETFs
The financial volume registered in September by the four BM&FBOVESPA Exchange-Traded Funds (ETFs) reached BRL 557.86 million, in contrast to BRL 451.14 million in August. ETFs BOVA11, SMAL11, MILA11, and PIBB11 registered 8,366 trades. In the previous month the number of trades was 5,753. ETF BOVA11 reached the highest financial volume in September, with BRL 484.17 million, in comparison to BRL 373.33 in August.
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Volumes and trades by Direct Market Access (DMA)
In September, BOVESPA* market segment (equities) transactions carried out through order routing via Direct Market Access (DMA) registered a financial volume of BRL 92.26 billion and 8,026,749 trades. In August, the financial volume was BRL 89.63 billion and 7,990,605 trades, respectively.
* Direct access to Bovespa market segment is carried out through DMA model 1. Also known as traditional model, in this type of DMA the client accesses the Mega Bolsa through technological intermediation of the brokerage house.
Note: DMA modality traded volumes includes both ends of the transaction (buy and sell).
BM&F Segment (Derivatives and Futures)
Derivatives markets in the BM&F segment (including financial and commodities derivatives) totaled 31,505,077 contracts and BRL 2.12 trillion in volume in September. That compares to 28,907,308 contracts and a volume of BRL 1.88 trillion in August. The daily average of contracts traded in the derivatives markets in September was 1,500,242, compared to 1,376,538 in the previous month.
Volumes and Trades – Financial Derivatives
Interest rate futures (DI) totaled in September 12,469,090 contracts traded, in contrast to 9,773,986 in August. The US dollar futures ended the month totaling 5,959,815 contracts compared to 6,393,595 contracts in the previous month. The Ibovespa futures traded 1,443,420 contracts in September, compared to 1,260,120 in the last month. The Euro futures contract (EUR) registered 5,330 contracts, in contrast to 13,710 contracts in August.
Open-interest contracts ended the last trading day of September with 21,993,232 positions, compared to 20,333,146 in August.
Volumes and Trades– Agribusiness Derivatives
In September, the agribusiness derivatives market on BM&FBOVESPA (including futures and options) totaled 151,582 contracts traded, compared to 171,929 in August. Agribusiness markets totaled 74,238 open interest contracts at the end of the last trading day of September. In August, these contracts totaled 75,378.
Volumes and Trades - Minicontracts
The derivatives market for mini contracts traded 1,177,213 contracts in the month of September, compared to 1,081,139 in August. Of this total, the futures market for Ibovespa mini contracts traded 1,103,632, compared to 1,031,748 contracts in the previous month. Mini U.S. dollar futures traded 72,085 contracts, compared to 47,475 in August. Mini futures contracts ended September with 27,498 open interest contracts, in contrast to 16,231 in the previous month.
Volumes and Trades – Spot Gold
The spot gold market (250 grams) traded, in September, 1,216 contracts, compared to 899 contracts in August. Spot gold market volume totaled BRL 17.70 million, compared to BRL 12.57 million in the previous month.
Investor Participation
In September, financial institutions led derivatives trading (BM&F segment), responsible for 43.86% of contracts traded, compared to 43.17% in the previous month. Institutional investors were responsible for 26.77%, compared to 27.13%; foreign investors represented 20.31%, in contrast to 18.88%; individuals represented 7.16% compared to 8.61%; and companies, were responsible for 1.90%, versus 2.21%.
Individual Investors
In September, there were 85,033 individual investors with at least one account registered at the Derivatives Clearinghouse, compared to 82,210 in the previous month.
Volumes and trades by Direct Market Access (DMA)
In September, Direct Market Access (DMA) trading of deri vatives* market segment at the Brazilian Securities, Commodities and Futures Exchange – BM&FBOVESPA registered a total of 7,800,461 contracts traded, with 731,377 trades carried out through the GTS trading platform. In August, the total was 6,609,180 contracts traded in 674,823 trades. The volumes registered by access modality in September in comparison to the previous month are as follows:
- Traditional DMA – 4,649,846 contracts traded, in 455,580 trades, in comparison to 4,087,745 contracts traded and 446,219 trades;
- Via DMA Provider – 1,217,992 contracts traded, in 25,793 trades, in comparison to 1,007,615 contracts traded and 25,023 trades;
- DMA via order routing with CME Globex (CME Group's electronic trading platform) – 1,785,549 contracts traded, in 233,953 trades, in comparison to 1,460,410 contracts and 197,936 trades.
- DMA via co - location – 147,074 contracts traded, in 16,051 trades, in comparison to 53,410 contracts traded, in 5,645 trades.
*Direct access to the Exchange's derivatives market segment is carried out through DMA models 1, 2, and 4. In model 1 or traditional, the client accesses the GTS through the technological infrastructure of the brokerage house. In model 2 or via DMA provider, the client does not use the previously mentioned structure and connects to the system through an authorized access provider. DMA via order routing with CME Globex is also a form of DMA model 2. In model 4 or DMA via co-location, the clients install their own equipment inside the BMFBOVESPA facilities. Staring on October 19, DMA model 3 will be authorized for the derivatives market segment. DMA model 3 allows direct access to the Exchange's electronic derivatives trading platform without technological infrastructure of a brokerage house or DMA provider.
Note: DMA modality traded volumes includes both ends of the transaction (buy and sell).